Kotak Life Insurance — Malpractices followed by Kotak Life Insurance

Respected Sir,

Jai Hind. This is bring to your kind notice the malpractices being followed by Kotak Insurance. Please be informed that we had initiated a policy with Kotak Insurance in 2015. We deposited Rs. 3.4 Lac for about three years. Thereafter we requested to cancel our policy & return back our entire amount since we were not in a position to invest. After following them for almost 2 years they returned back Rs. 1.96 Lacs to us just a few days back. It was a horrifying experience with company begging for our hard earned money. Since then we have been asking them to return the balance amount as well but they do not agree. A complaint to IRDA through pgportal (Complaint No. DEAID/E/2021/00386) could not find me an answer. In fact IRDAI official simply forwarded me the company's reply. I still do not understand how a case can be closed without my consent. It clearly shows IRDAI official favoring the company.

I had requested to Kotak for written evidence which they have failed. They did not even send my account statement. It is clearly a case of cheating/malpractice.

Really not sure about the role RBI. Complaints to RBI about that Bank have not been answered. Really pathetic company.

These Banks pose a big threat to the society & should be shutdown.

Please look into this matter & do the needful from your end. I request my balance money back.

An early action from your end would be highly appreciated.

Thanking you,

Atul Sharma
Email : atulsharma.[protected]@gmail.com
Cell No.[protected]

Policy No. 03215256