[Resolved] Kotak Mahindra — Misselling of policy 20 yrs instead of 3 yrs | |||
Never go with Kotak Mahindra for any policies. I was convinced by Kotak Mahindra agent that Kotak Super advantage plan is an excellent plan and the term is only for 3 yrs after which I can withdraw the amount and I will be getting 250 return on my first year premium. My total investment is approx 1 lakh per annum.To my horror I found that the policy term is for 20 yrs and I will be getting 200-250% return of first yr premium after the completion of my plan tenure at 20th yr. Unfortunately I was not available when the document paper came and when I came to know about this, I contacted the branch, and they confirmed that return will be 250% after 3 yrs and asked me pay for atleast 3 yrs. Now I completed 3 yrs the total fund value is less than 2 lakh. Its a complete fraud scenario wherein the company has cheated 1 lakh of my principal amount. On top of it I am not getting any proper response from Kotak Mahindra customer care and as well the officials are rude in answering & attending. Real pathetic service in terms of investment as well as customer relation. As per the agreement a fund manager is supposed to take care of funds and advise me regarding the growth and advise me on switching. Nothing of that sort was done in my case. I am getting all promotion calls from Kotak but never with regard to my fund. For name sake kotak customer care reply that your grievance will be addressed as soon as possible. I am sure I am not the only one affected by kotak there must several thousands affected by taking Kotak Super Advantage Plan. I will surrender the policy at loss and I shall go with LIC. I shall submit a consumer complaint against misselling of policy. Better to stick with LIC where the policies are transparent and there is no nagging calls for further investment. I will never ever look back with kotak. Its a total fraud company from my point of view. Please contact me if in case you have any unique idea to come out of this ULIP scam plan. email id: [protected]@yahoo.co.in Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 2 Comments | |||
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You may contact [protected]@moneycontrol18.com . They will definately help.
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27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, India - 400051
Kotak Investment Plan — Telemarketting Calls from Kotak
More than a month I am getting call form the Kotak for investment plan. It disturbs me during the meetings. All most every time I said no to them. Even asked them not to call me any more. but today (04/DEC/2008) its alomost 2-3 times received call for the same. I asked them during the first call to stop it immediately but I still received the call. Number from whichreceived calls is [protected] /[protected]