[Resolved]  Kotak Ulip Plan — Surrender of Life Policy in Kotak

Kotak Mahindra Life Insurance says that they cater only to HNI Clients and charge premium for the same so that only HNI Client can be their major customer.While taking the policy their marketing team run pillar to post at the client end to convince him to take the policy but their return under the ULIP Plan is currently not up to the mark as they promise to the client and when the client desires for the surrender of the policy they ask each and every member of that HNI Client who has taken the policy from Kotak Life Insurance to personally present themselves at the Branch for surrender of Policy. Note that even the acceptance of authorization letter given by the Client in favour of his employee or in favour of the advisor in Kotak Life Insurance is not acceptable by every branch of Kotak, more so in Kolkata.IRDA HAS TO SAFEGUARD THE INTEREST OF THE POLICYHOLDER SO THAT THEY CAN'T FACE THIS TYPE OF HARRASEMENT IN THE FUTURE.
- Victim of Kotak Life Insurance