Max Life Insurance Complaints & Reviews

I desire to take out a policy for my grand son aged one year. I am 69 year old person. i have been informed that i am required to pay the premium for seven years and the policy period of for 74 years. I can surrender the policy after the period of 10 years or so.
I am keen on knowing that if i get the policy matured after my grand son reached the age of 16 years whether how much i will get. i am been informed by your call center executive that i may even get the amount which would be less than the premium paid. is it right or wrong.
if this statement is right, then why do you provide the chart showing the surrender value of the policy after various periods.
kindly reply at the earliest as i intend to take out the policies. I have already policies for my grand daughters but now i am affraid whether the decision taken by me is right or wrong as 74 year is too long a period for any perosn

Dear Sir,

I am got Two phone calls to remove agent code deactivation process from my max life insurance policy[protected] to stop sending bonus and commission to agent. Asked me to fill application and forward other relevant documents, and asked me to confirm availability in hometown for collecting the following documents like:

1.Address Proof
2.ID Proof
3.Passport size photo
4.Cancelled...

From
R.K Luthra
H.No. 185, Sector -9, Panchkula (Haryana)
Mob. No. [protected]
To
M/s Max Life Insurance Company
Sector -11, Panchkula.
Dear Sir,
I was issued the above stated policy certificate for Rs. 200000/- Lacs on yearly installment of Rs. 20000/- w.e.f 24.03.2009. I have been regularly paying the installment of premium warth Rs. 20000/- till the year 2013 (5 Installments). The total amount comes to Rs. 100000/-
I would like to draw your attention to the aforesaid policy document that when I came to your office I was ensured by your the then concerned officials namely Sh. Bindra and others and presently meeting with Mr. Rajbir Singh that the amount of policy shall be invested in assured return portfolio which means that my paid up premium shall attract premium paid Plus any amount of growth till I Surrender the policy. However I was astonished to receive your letter dated 27.12.2016 therein you have informed me that the surrender value is just Rs. 29371.49 against my paid up premium of Rs. 100000/- which clearly establishes the deceitful action on your part by diverting my funds to the wrong portfolio which has linked to market value. This practices not only bad in nature but prejudice to the interest of SUPER SENIOR CITIZEN who has strived to pay this hard earned money out of his pension which is the main source of his livelihood after his retirement. It is also astonishing that when I had stopped to pay the premium then what was the fun to deduct mortality charges.
Your aforesaid action has prompted to stay away from continuing this policy furthermore . Now you are advising me to continue my policy paying the arrear of Rs. 60000/- So that I may suffer more loss. I humbly request you to pay me Rs. 100000/- premium amount plus some portion of growth within 15 days failing which I shall have no other option but to take legal recourse to the matter.
In the end I hope that you will kindly consider my case sympathetically keeping in view of my old age of 78 years.

Thanking you. Yours sincerely
With Regards
Dated:[protected]R.K. Luthra)

Respected Sir/Madam,

I Mr.Yehota Sema opened an insurance for myself in Max life insurance for 11 years. My policy no is[protected]. I paid all my premium. My insurance got matured and I received a final cheque. But when I calculated the amount, it is coming less than what I saved. Therefore I would kindly request you to look into this matter and tell me where my remaining balance is ?

Thanking you.

Yehota Sema

On 21.10.2016, I received a call on behalf of Max life insurance & on that call basis, transferred Rs. 53175/= in MAXLIFE A/C NO.[protected] thru UTR in Corporation Bank NAWADA BRANCH NEW DELHI Vide UTR TRANSACTION REF NO. –[protected] .

Later on, I came to know, it's a FRAUD CALL and immediately reported to Ms. Meenakshi, Branch Manager, Corporation Bank Nawada branch, DELHI on 25.10.2016 & give a letter about this Fraud and she ensure that they have freezed the concern bank account no. [protected].

They did verification at their end and found that it was a fraud account and my funds has been transferred in the same account and ensure me that funds will be reversed back into my bank account.

After that I have contacted them thru SMS & made so many call times but till date I am not received any solution from Corporation Bank .

Later on Contact Sh. Subhash Keshav ji at Jhandawalan Office over phone & thru SMS but till date I am not received any solution from Corporation Bank.

Not getting any solution after 4 month Now I Hereby approached head office to take-up the matter & release my hard earn Money with interest to my bank account.

Arnav Dayal
[protected]@yahoo.com

Company's agent has said that the plan is 1 year and after the completion of 1 year you can able to withdraw your money after 1 year I wentwent branch visitbranc and manger said that you cant withdraw your money until the completion of lock in period.
I am asked what is tha time period of lock in period he said that tha lock in period is 5 years and anywhere in my policy bond not mention the lock in period is 5 years. And now my funds value is 36094 rs and I inverst 40000 rs he said that 36094 rs is pay after 5 years how foolish I am 40000 after 5 years get 36094 fraud compny please take action
Name shashank Dixit
Number [protected]
Mail [protected]@gmail.com

Hi,

I have purchased Term insurance plan online from Max Life insurance company website on 25 Jan 2017. After that I suppose to upload require doc. and get my medical done. But their provided link is not working. Hence I sent one mail for correcting this technical issue.

I even call to their customer customer and sent the mail for this issue. After continuous follow-up for this issue, when i did not get any corrective action from their end. I decided to cancel my application on 6 Feb. I sent mail for their max life provided mail id for this request. They acknowledge for my mail and inform to get back to me within 24 - 48 hrs everytime. But i never receive any mail or call from their end.

After that I send my concern to their escalation mail id. But it did not work as well. only one time i got a mail from escalation dept. person Ms. Deepali Jain to look into this issue on 16 Feb. But even after that i did not receive any call on that again. I callled her couple of time and she assure me to do cancellation and refund my application money. But that also do not worked.

I just got frustrated with this kind of behavior by such a big organization who has presence in current market. I everyday call, mail and to their customer care and escalation mail id. But no one replying.

Hence I am now looking legal action against this company. This is really disturbed my life and I am in pain after giving full year term money at application and no one hearing it.

Please look into this matter and help me in this regard.

Thank you
Satish Badgujar

Hi sir/ madam,

I have raised a complaint about the agent who has given me false information about the policy and made me to invest my hard earned money in max life insurance. It is almost 7 days i have raised my complaint, but till now i did not get any response.

I need a resolution and return the amount i have paid.

I kindly request you to "cancel my policy and return my hard earned money back".

Please find my policy and query reference details below.

Policy no :[protected]
Name : pradheep h
Policy name : max life monthly income advantage plan
Policy term : 22 years.
Premium payment term : 12 years
Premium / annum : 75, 000
Premium paid till now : 75, 000
Query reference no : 17912932

Note : please fine the mail chain below.

Thanks,
Pradheep. H

I am getting calls to remove agent code deactivation process from my max life insurance policy to stop sending bonus and commission to agent. Asked me to fill application and forward other relevant documents. The caller asked me to pay 26, 000 and said will remove agent code from my policy. The caller said his name was Monica and his phone [protected].In the above is for your information and provide me necessary guidance in this regards....

Reference to policy #[protected], Name of base insured wrongly wrote Mr. Pranashi Bandyopadhyay, Gender Male to be corrected as Ms Pranashi Bandyopadhyay. Gender Female.I have requested Axis Bank, Barasat Branch who is the coordinator for the scheme with Max Life Insurance, but no fruitful response received.

Regards

Sadhan Bandyopadhyay
Tel # [protected]
Email ;[protected]@emirates.net.ae

This is regarding complaint against your employee having ph number as [protected] ( Santosh name coming in true caller)

He just don't have knowledge at all on how to speak with customers

He literally started to abuse when i said i dnt remember the policy number

I think its a big mistake that i have chosen your policy
My 5 policies are running with you and if immediate action is not taken...

My self sreejith Marath sreevalsan I purchased a policy MAX LIFE INSURANCE (Monthly income advantage plan) policy no[protected]. Policy commenced date 12 January 2017.
Agent who sold the policy has given wrong information's about the benefits. While I go to their office to cancel the policy. They misguided me and told me to wait until the receive the bond in hand. They told me anybody can submit the cancellation form. I am working in Dubai & I have to go back to Dubai next week. I give my wife an authorization letter & signed free look cancellation form.
Now they are telling I have to go directly to submit the cancellation form otherwise they will not cancel.

Can you please do the needful to solve this issue.

Dear,

I am writing in continution to my complaint dated 24.01.2017, against Max life company.

Policy No:[protected],
Greviance reference no: 17859444.

As requested I have given ample time for investigating my case. In between there was a mail from Investigating department, of max life insurance company, wherein it was mentioned that my greviance will be investigated and redressed at earliest. I was really hoping for some positive response from this second tier of the company and waited for more than 10 days.

During this time there were couple of fake calls; who were asking me to buy another policy in order to get my maximum money back from this policy.

Yesterday I got a mail from the investigating department. To my astonishment nothing has been mentioned in that mail about my concerns. In brief two points are mentioned,

1. Free look period of for the policy was completed and 2. For the last 5 years, there was no complaint against bonus amount that had been paying.

I clearly mentioned in my complaint that, I had purchased the policy way back in 2009. Hence there is no point of looking for free look period whatsoever.

I sought details of calculation of bonus against my policy. The company claimed that they have declared bonus at 8% for last year. If it is the case, I have paid so far 3, 74, 000.00/- as a premium. If the premium of ongoing year is deducted then the figure will be 3, 24, 000.00/-. At 8 %, bonus for the last year should at least be 24, 920.00/- ( 3, 24, 000 * 0.08). But what I got was 12, 000.00/- only which is very less and not even 4 %. I accept my mistake of not looking for these details for last 5 years. But it doesn't mean that I have no right to raise concerns now. At least now I realised the fraud & cheating that has been doing by the company.

One more clarification I stressed upon is the surender value of my policy. There is no mention about this in the mail from Investigating officer. Instead a free advise has been tendered saying that it would be beneficial if I continue this policy.

I am deeply hurt & dissatisfied by the attitude of this company. I regret for choosing the company which I could not alter. My sincere advise to people is do not buy any policies from Max life. They will show you big dreams while selling policies, later they will turn blind eye to your concerns. There is no need to tell about the attitude of people working at branch office.

In no way I will continue this policy and allow my self being looted further. I have to surrender this policy, but the amount that is offered by the company (108000.00/-) is not at all acceptable. I need to check bonus amounts of previous years too.

Hence seek intervention of the consumer complaints authority to help me in getting my money back. Plus I have not got the services that have been promised by the company.

Bala
[protected]

Team
I bought a policy from max life few year back Policy no.2604857 amt.15000/-
Policy sold to me by saying after one year you can withdrawal the whole your amount near about double.
But when I went to the branch for withdrawal the back office told me you can not withdrawal your amount it can withdrawal only after 5 years.
It is possible when will u pay the 3 installment regular.it is so harassment for me.
Pls do the needful resolve the same

Regards
Kuldeep Khokhar
[protected]

I am rajesh kumar dipak took insurance policy of max new York Life ìnsurancè six years before, but after that I was unable to pay the premium. My policy no. is[protected].l took policy on31/3/2010, and I payed 20000.what l have to do get back money or give me advice. My email mail is [protected]@gmail.com, mobile no . [protected]

I am a policy holder of the Max Life Insurance having policy no[protected] and my 5th years premium of Rs 58672.29/- has already been recovered on 09/01/2017.But inspite of several requests through e-mail as well as through mobile, such documents is not sent till date. Now I have a great doubt in my mind about the reliability of this company about their performance as to whether my money will be returned as per terms and conditions as provided in the policy papers or may be treated as a fraud one.Please reply along with premium payment receipt immediately.

Dear All

I, Mr. Bala, have taken a whole life
policy from Max life insurance, in June 2009. Policy no. is [protected] and since then I have been paying
premiums monthly (4200.00/- per month). So far the total amount of
premium paid by me against the policy is INR 3, 74, 742, 56.00. In between I had withdrawn bonus of INR 39, 900.00.

While offering the policy, the company agent told me that, after paying premiums
for 12-13 years, the bonus amount will be equal to premium amount and
after that the policy will continue without paying any premium. But in
actual the amount of bonus that has been awarding by the company does
not match with those promises. As per the present trend I have to pay
for another 15 years (total 25 years) then only bonus will be equal to premium. I have
been to nearest branches couple of times and sought for help but no
one care to help.

So finally I decided to surrender the policy and asked for surrender
value and I was told that I would get INR 1, 08, 523.77 (against total
premimum paid INR 3, 74, 742, 56.00). I was utterly shocked and asked for
details of calculations.The customer representative of the company didn't care to
bother to my concern and said some calculations which I couldn't get.
Also said that all these terms were mentioned in the policy bond which
I couldn't find. Moreover while offering the policy your agent never
told about these regulations.

This is nothing but fraud and cheating. I feel being cheated by the company. These 7.5 years I had paid my hard earned money with hopes on future. There are no words to describe my feelings.

I had written a mail/ coming to the customer care of the company on 24.01.2017, ticket number is. 17859444. There is no response from the company.

Hence I am filing this complaint and humbly request to help me in getting back my money.

Bala
[protected]

1) Lack of communication between Maxlife and Medical tests Lab.
2) No Response from Customer care after payment was done.
3) They don't know how to speek with the customers.
4) Again again asking for additional documents. they don't know what are the documents they need and what are the tests they need.
5) Always rescheduling the appointments.

many more.

Thanks,
Application number:[protected].

Sir
I am an agent related with Noida office.I have done15 meetings and attended20 days in office.computer system showed only11 attendance.iwas proactive for December 2016.till date AWS rs12000 has not been paid to me.
I request you to pay me rs12000..
I shall remain ever grateful to you.
Yours sincerely
madhuri sharma
code611444
d134 delta1 greater noida
Gautambudhnagar u.p.
dated26/01/2017

I'd like to know the cancellation terms and conditions for policy[protected]. I am planning to discontinue due to personal reasons. I haven't made a final decision but I would like to know the policy. I have been paying 50, 000 Rs every year for this and I signed up for Max Life Life Gain Plus 20 Participating Plan from Dec 2013.