Max Life Insurance Complaints & Reviews

I contacted the customer care and local branch to surrender my policy.
I have deposited the premium for 3 years.
4th year premium is due.
They said that i cannot surrender my policy for 5 years.
It was started in 2014.
The agent had told me that i can surrender the policy anytime after 3 years.
You guys are thief.
I want my money back.
And i don't want to invest ever again in max life.br...

I had applied for a life insurance with max life and due to some technical reason (Unknown) it was communicated that the request has been rejected.
For almost a month i have been following with this person rishikesh (Sales guy) to know the status of refund. He has no clue where the money is and what the status of my policy is. The fact of the reason, he does not even know the reason for rejection..

However, i am not bothered about the rejection of my request rather to receive my refund from the company which is hesitant to refund the amount.

I am going through a hell of a process to understand the reason why max life is hesitant to refund my money. It seems they are now interested in the money rather insuring people.

The given insurance number was[protected]

Somebody please take note of this complaint. I want a complete explanation with compensation for such a reason from max life.

Is irda stipulating such acts.

Regards
Rajath antony

My name is madhavi gurav i have taken this policy since 10 years but now i want to cancel this policy due to undue circumstances, i want them to refund my principal amount back. I have approached them many times through calls... Emails and have also visited their branch but they are not willing to refund money.

Max newyork life is a fraud company and they harass their customer to the core

I am cheated by this company, i want my money back.

Regards
Madhavi gurav

महोदय
axis bank की पाओटा ब्रांच, जोधपुर के प्रबन्धक द्वारा भ्रामक जानकारी देकर मेरी बीमा कर दी गई इसका विवरण निम्नानुसार है:-
पॉलिसी नंबर[protected]
1-प्रबन्धक महोदय द्वारा जानकारी दी गई की आपके द्वारा देय प्रीमियम राशि को भारत सरकार के ऋण पत्रों मे विनियोग किया जाएगा तो इससे प्राप्त बोनस इतना होगा की 7 से 9 वर्ष बाद आपको प्रीमियम नहीं देना होगा।
2 -गंभीर एक्सिडेंट की अवस्था मे प्रीमियम राशि के आधी राशि का भुगतान तत्काल किया गाएगा
वर्तमान मे axis bank के उपभोक्ता सेवा के टोलफ़्री नंबर पर जानकारी लेने पर उपरोक्त दोनों तथ्य ही झूँटे पाए गए व सूचना दी गई की
1-आपको 15 से 20 वर्ष प्रीमियम देने पर बोनस इतना होगा की आपको प्रीमियम देने की जरूरत नहीं होगी तथा
2-एक्सिडेंट की अवस्था मे आपको किसी भी प्रकार का भुगतान देय नहीं है।
3- प्रीमियम राशि को भारत सरकार के ऋण पत्रों मे विनियोग की जानकारी भी गलत है।

इसी प्रकार maxlife कंपनी मे बात करने पर उन्होने जानकारी दी की आपको जीवन पर्यंत हर वर्ष प्रीमियम तो देना ही होगा।बोनस का भुगतान तो बीमा अवधि पूर्ण होने अथवा म्र्त्यु होने पर ही देय होगा।
इस प्रकार यह स्पष्ट है की axis bank के प्रबन्धक द्वारा भ्रामक जानकारी प्रदान की गई इसका उन्हे कोई लाभ मिला होगा।
अत: मेरे द्वारा जमा की गई प्रीमियम राशि मय ब्याज लौटते हुए मेरी पॉलिसी समाप्त करने की की कार्यवाही करने का कष्ट करे
मेरी शिकायत पर उपरोक्त कार्यवाही नहीं होने पर मुझे IRDA व उपभोक्ता न्यायलय मे वाद प्र्स्तूत करना होगा।
मुझे विश्वास है मेरी शिकायत पर कार्यवाही होगी।
भवदीय
गजेंद्र कुमार व्यास
पॉलिसी नम[protected]

Hello,

My self Atul Agrawal and I am having Policy holder of MAX LIFE INSURANCE. My 3 policies running with MAX LIFE INSURANCE.

MAX Life Policy numbers of Two Policy :[protected] &[protected]

I received Many calls from Mobile number ([protected]) who introduced himself as Vikas from Max Life insurance employee. He is having my all three running Policy details which are running in MAX life. He is having all very secure data such as policy details, ECS date, Bank account name and Account number etc.

He Informed me that if I don't want to take Policy Agent services against my running policy then I must pay 10 less premium amount. But Policy Premium should be Paid before of ECS Transaction date and it can be done via NEFT of any other Bank. After receiving Premium Amount New ECS bank details will update on basis of Reference/UTR number.

My Max life Policy (Policy number[protected] Premium is 50000 rs and ECS date scheduled on 1st/December of every year. so, I must pay 45000 rs (10 less) before 1st Dec. He shared Kotak Mahindra Bank Details for NEFT transaction for Policy Premium payment.

KOTAK MAHINDRA BANK DETAIL
Beneficiary name MAX LIFE[protected]
Account Number [protected]
Bank Kotak Mahindra, Branch Jasola /New Delhi.

On 29th/November/2017, I made payment 45000 rs from my Corporation bank account (AC no [protected]) to KOTAK MAHINDRA Bank (AC no-[protected]) with Beneficiary
name MAX LIFE[protected] via Self CHECK/NEFT. My Corporation account check number 052162 and REFFERNCE number 20202484. Amount was deducted from my account on same day.

On 4th/December/2017, I visited in Max Life insurance office (Near IFFCO CHOWK) and asked for Premium Receipt. Customer representative (Anisha Chawla) confirmed me that your Policy Premium paid for 2017 and next due date in 1st/Dec/2018. she provided Premium Receipt copy via mail as well. (Snap shot of mail and Premium Receipt copy attached).

On 8th /Dec, I Online checked my Policy from MAX LIFE website it was showing Premium amount paid.

I was getting ECS transaction failed messgae via mail.

On 16th/Dec, ECS rescheduled and deducted 50000 rs from my citi bank account.

On 15th /Dec, when checking Policy details via online its status showing Bounce. While Money Already deducted on 29th/Nov from my account. Again, I visited to Max Life office with all proof but now they were denying no payment received against policy and giving very nonce reason for premium receipt.

I visited in Kotak Mahindra Bank (Sec-14, Gurgaon Branch) and Informed to Bank Manger. He checked and confirmed me that Above Bank account details existing but Beneficiary name is different. He Confirmed that Payment was received on 29th /Nov.

I need return back my 45000 rs which i paid for policy (Policy number[protected].

All proofs (Bank account transaction detail, Confirmation mail snap shot by MAX life customer representative, Premium receipt copy, snap shot of MAX life via online login) attached here.

I am having all details, If any information needed from my side please let me know.

Thanks//
Atul Agrawal
sargam.[protected]@gmail.com
+91-[protected]

I have purchase a policy on 16 dec 2016 and now due to some personal reason i want to cancel the policy.
I went to the max center to inform then they just ignore and not help me.
And said that wait for some time and then come back.
Can anyone help me in cancelling the policy.
Yet i have not received the documents.
Please help me in this asap.
Plaese help.

On 29.11.17, sms at about 1728pm is received to me for paying 25802.2rs.
Same has been paid digitally immediately, on date 14.11.17 a cheque is returned to me of amt. 25446.13rs. Why? I can't understand, again same messages are coming that u have not paid the premium of 25642.46
Following are my queries
Who is responsible for the loss in cheque amount
Why fake messages are being sent
Period o[censored]ncover etc.

So i opened this policy with max life insurance in my axis bank branch. It has a huge yearly premium. I no longer wish to continue paying it and want to discontinue this policy. But the so-called lady at axis bank tells me i can not do that. I wont be getting my principal amount for 5 more years even though i stop paying my premium. I do not understand why do these people have to force us? And is it even a rule? Or that lady is just making it up to reach her target? Really a big mistake to sign up for such a fraudulent company. You guys suck.

Inispite of my passbook Uptodation in policy. Why payment made to fake account . The Aadhaar Card and passbook are submitted by transferee accounts are not belongs to me. complaints it made in your office. I also got complaint no-i.e. 18542396 on dated 11/12/2017 but till date not get any proceeding information from your organisation plz look after it.

Dear sir/ma'am
I received a call at 16:30 hrs today from this mobile number [protected].
He said that he's an agent from max life insurance and told me all the information regarding my insurance policy even my date of birth and pan number.
He told me that you have a due bonus of 84, 000 from the past 3 years and it is kept in the company at the agent code account. He told me that he has filed a complaint with the gbic department and the file number is 5396200/gbic and the complaint was accepted by arun kumar saxena - [protected]
That he'll call me in a day or two and will get me my insurance bonus.

Should i be concerned about this.
How could my information just go out in the open market like that?

Please reply to this urgently or else i'll have to file a complaint in the consumer cell.

Thanking you

I have been called from your side for premium payment which is being due and so i had made payment of 45000/- through rtgs in the account name of max life to the given account no. However again i am being called for the same. I immediately contacted the customer care for clarification but i have been told that i have been cheated and no money for my premium has been deposited & i am duped, if so i am duped how can any other person use the account which is in the max life. Also their no. From which i had been called and so i deposited and still they insist but they now do not give proper answer and disconnet. Please call me on my no. [protected], and resolve my issues i cannot at all accept this and will take all the necessary serious legal actions and stop my all the policies right away.

Big time cheater maxlife insurance. I had 3 policies, one i had continued for 4 yrs and other two a few months less than 3 yrs. My financial situation didn't allow me to continue because these policies are pushed to me by the bank officer who used to visit my office campus. The one i had continued for 4 yrs i got 20k deducted from the amount i invested. The two i was few months short of 3yrs, i was told that i will not get any money. It's my hard earned money and # you tricked me.

It's funny that i called up irda. And they say if it is that way in the policy you will not get anything. Irda should stop and should protect people's money. Maxlife and axis bank together, just eating up money with no effort. On contrary, i went back to my ppf after 7yrs of nonpayment, and in few hrs, it got regularized and i paid 100 fine per year and i got back all my money, more than i can expect. It's a shame that irda not able to do anything for people like me.

I am going put this on every damn page, every social media. Maxlife got to be banned.

Hello,
Sir/madam this is to inform you that i am axis bank saving a/c holder (Salary account).
I approached the axis bank, lanka varanasi uttar pradesh branch for issue of one locker.

The branch employee piyush chaudhary forced me to agree to take the insurance policy plan of max life insurance company limited (50 thousand rupees approximate) and told me that its compulsary for locker.

Axis bank branch employee piyush chaudhary and max life insurance employee pankhuri told me that this policy is only 3 years locking period and good return (Guaranteed 8 percent annual return after 3 years locking period). And both of them (Piyush and pankhuri) did not give me proper detail about max life insurance policy.

After policy i received confirmation/verification call regarding plan and details. Max life insurance policy detail provided by verification call and employees (Piyush and pankhuri) was not same.

Basically, they convinced him with their trick of fraud intention.
I dont want to continue the policy i just dont like it, kindly cancel it and refund my whole money in my account., i dont want to wait anymore please cancel the transaction immediately, am highly frustated...

Policy detail is policy/proposal no:[protected]
Policy holder name : - atul kumar

Please resolve my problem (Refund my whole money in my account) as soon as possible.

My Name is Neeraj chauhan and am from Unnao, U.P. I have a policy with max life insurance which was taken in Nov 2012 and the policy number is[protected].The complaint on them is that I had continuously payed premium of 72000 i.e 2, 000 per month for 3 years. When i got to know that the lock in period is 3 years I telephonically contacted to Max life office at Hazratganj, Lucknow and made query about surrender value, In reply their representative told me that at this stage I would receive a very less value I.e. about 23, 000 approx. moreover, if I manage to pay for 5 years then I would receive atleast that amount which I have deposited against policy. Further on her advice I manage to continue the policy and after completion of 5 years I visited to same max office on 27th of Nov'17 in connection to surrender the policy and asked about surrender value, in reply the officials told me that i would receive only Rs 77, 000 approx. I was shocked to hear that after contributing of Rs. 1, 20, 000 for 5 years I'm going to receive the value with loss of 43, 000. For this I seriously share the previous conversations which were made between us to which they denied straightway. Further i telephonically contacted to max customer care no. and disscussed about surrender value of policy with all previous happenings to me. Their customer care representative told me that on surrendering of policy on completion of 5 years i should receive the value equal to 4 year deposits beside this that lady representative advised me to visit their office for more details. Again on dated 28 Nov'17 I went to same office and discussed the matter but it was all waste as they don't want to cooperate anyway. This proves the uncertainty/fraudulent in payment policy of max life insurance. Further in tensed mental condition I submit the formalities in connection with surrender of policy, consequently I have received the value of Rs. 76, 975/- in my bank account on 04/12/17 with huge loss of Rs. 43, 025/-. This was the worst experience of my life. I hope upon this complaint my case will be scrutinised again and wish that diffrence amount be paid to me at the earliest.

Dear sir,
This is for kind information that i am your customer for last 5 years. And i have your life insurance policy i. E. Policy no[protected], premium of policy is 25000 per anuum. Yesterday i received one call in the name of miss banarjee regarding my policy and today again she was convincing to me so i was very much confused
Miss banerjee was saying that she is the manager of max life insurance, and she can cancel the file and giving threatening and when i asked are you genuine or like fake /fraud call, she got excited in fury.
She was saying that agent can withdraw your bonus and he has one lock code on your bonus. While bonus directly comes to customer account.
Is it true?
While in policy the agent name is axis bank ltd kosikalan.
And from the no i received call is [protected].
Can you confirm please that the no is ok or fake call on my given mobile no.
I will be very obliged to you as i trust in your policy.
Thanks®ards
Surendra pal
[protected]

My father took the policy - 'max life life gain plus 20 participating plan' took this policy as insisted and forced by axis bank and it was told that there is only 3 years locking period and good return.
Basically, they convinced him with their trick of fraud intention.
Now, after 4 premiums, when he is trying to surrender the policy because of some bad financial condition, he is getting only 50% of the value deposited and no return for the amount already paid for the policy.
Policy[protected]

Both axis bank and max life are cheating people together. This fraud has to brought to the public notice and right action should be taken to punish these people.

I got the call from customer service from max life that my policy is providing me bonus on my [policy. Since there is agent involved in between so i cannot directly claim the bonus. For that i need to open a dummy policy from hdfc life, provide them all the details like pan, adhaar and cheque of rs 50000. I got suspicious and called the customer care where they told me that there is no bonus on you policy and it was a fraud call. I got calls from below number.
[protected] - sana
[protected] - sk subramanium

Please provide these numbers to police and strict action should be taken.

My policy no.62647122 surrender​ on 4th October 2017 for some financial problems. The Imphal branch assured me the surrender amount will receive within 25 to 30 days. They failed to their words and till now no information is provided to me.Why is it so, and what is the reason for the delay in my application process?

Max life insurance customer portal says fund switch will be confirmed in 48 hours. However the last fund switch i did took 19 days to be confirmed. Thereby the customer is exploited and robbed of the market fluctuations and the gains there in, by max life insurance. Other companies like icici and hdfc confirm fund switch instantly and the transaction is visible on the customer portal the very next day. Poor and dishonest show by max. I assure you that if this continues more and more customers including me will withdraw our funds from max life insurance.

I have taken a max life insurance policy from max new york in 2008 for which i was paying a premium of rs. 4000+taxes twice every year using my credit card. This month i decided to stop the policy and not to pay the premium. The due date was on 22nd nov, at 5:51 pm, i received a message on my phone that the premium amount has been debited from my credit card. When i enquired from my bank, they informed that the card was been swiped physically which was not possible as the card was with me and i was in my office.

I realised that there are some rbi approved swiped machines on which the card can be swiped remotely if the vendor has the credit card number and expiry date. Though this facility has been ceased by rbi few months back due to some fraud happened. Also its a fraud if the payment is been swiped without any written approval from the customer and their photo ids along with the authentication

I would like to take a serious action against this kind of forgery committed by such reputed company and request to publish this news so that all the consumers gets more aware by such kind of frauds