Kotak Mahindra Bank — kotak life

Address:

102/104, Cears Plaza, 136, Residency Road, Bangalore, Bangalore, Karnataka, 560025

I have submitted a complaint with kotak grievance team that i was cheated by the kotak agent by providing false promises to buy their policy.
I got a response from kotak grievance team stating that they will not take any action against my complaint and they saying that they cannot settle my premium amount.

I have taken the policy no. 03300696 with kotak insurance in 2015. While signing the application the insurance agent from kotak has made false promises that this policy will give returns of more than 8%. I was not aware that this traditional policy has less returns and without knowing that i signed the application. From 2015 till now i was lured by the agent saying always that this policy is best in the industry and asked me to continue. Then when i checked with another friend who is also aware about insurance told me that this policy will not have much returns. I would like to surrender the policy for making me to buy using lured words and false promises by kotak agent. Without explaining the policy in detail, the kotak agent forced me to take this policy and now am under this cheating trap. So kindly review and investigate this complaint with kotak insurance team and ask you to get the refund from kotak which l paid the premiums so far without deducting any charges. Its my hard earned money and i don't want to give it to this insurance company / agent who has cheated me. This is very unfair practice which followed by indian insurance companies.

If i am not getting the positive response from kotak insurance then i will be filing legal case/proceedings with bangalore metropolitan magistrate court against the insurer to repay my paid premiums.

Navaneeth