Max Life Insurance Complaints & Reviews

Hello MY Name is Hemant.
I have taken a maxlife gain plus plan policy no.[protected].
I am paying premium of 40k/annum for the last 6 years so the total i have paid 2.40lacs.
Now when i asked them that i want to surrender my policy they are saying that i will get only 1.15 lacs.
First time i am seeing a policy which is giving negative value that too more than 50% how ridicolus.
These guys are cheaters & looting a common public.
I am planning raise a complaint against them in consumer court.
If anybody else is intersted please let me know.
MY COntact Details are [protected]

My name is parmjeet singh dhunna and my policy number is[protected]. I just wanted to transfer my policy to one of my cousins and i was about to transfer it but unfortunately, bank employees made me fool. They said to me that your policy has been cancelled so there is no need to transfer it. I have a recording of one of the employees who is admitting that i was misguided and given false information about cancelling my policy. I am totally mentally tortured. I want my money back. I do not want to continue it.

पालिसी नंबर[protected] मै 2007 में hole life plan खुलवाया था और2017 में मै अपना पालिसी sullender कर दिया लेकिन मुझे स्लेंडर अमाउंट बहुत कम मिला मेरा जमा हुआ57000 और स्लेंडर अमाउंट दिया24450कृपया मुझे इस बारे में संतुष्ट करे

I had Taken a Policy with Max Life in 2013, I have paid Premiums not time for every month till Feb 2017, Now I have Requested for Surrender of My Policy.
I Submitted all Documents at Thane Branch Office on 8th March, & they said Amount will be credited in my Account in 8 Working Days, it is still not credited.
There Customer Care Executives says that Payment has been Initiated on 17th March & Kindly Wait Amount will be credited.

Policy No.[protected]
Mohammed Yusuf Rassiwala
[protected]
[protected]

Hello,

As discussed in start only you call representatives told me that this is possible and they will change the plan after this.
If I am getting promised by your call representative person and he is telling me that it is possible and all my documents is checked and verified on the grounds of 50 lakh then now how you will not allow me to get enrolled in 50 lakh sum.

The mail is with you only when I told you that I want to change my plan on the date of purchase of policy 16 Feb. So why don't you verify this thing in start only ??

Also I got a mail from service.helpdesk that they never recieved my request of plan changed and they are telling this to me when the policy is issued. I send all the mails snapshots and mails that I got from online maxlife insurance. After that your representative call me and fell sorry for that.
Now your representative is saying underwriting team is saying No. please explain how come you never get the request as I have all the hard copy with me for change of plan mails.

Please give me your clear answer as the person Sourav your representative is telling me to quit the policy. As he is saying me like I am begging for policy from you. Is this the way you treat your Coustomer.

I want clear things on this as previous also you told me that I haven't raised any request for policy sum change but I show you all that proofs and now Sourav is saying the that I am not eligible. I want clarification on this as it's unacceptable. It's your duty to check the requests made by customers and get reply with that.

You manger.maxlifeinsurance person mail id is making promises that hey will get back to me in 1 day but after 8 days they told me I can't get the policy change to 50lakh and now also it's 2 days now reply or call from your side.

Please reply me with this.

Thanks

Dear MAX LIFE INSURANCE

I have 2 policies of Max Life Insurance. The policy was taken thru Axis Bank.
The payment for this is through ECS, and it is done through an annual payment. The next scheduled payment for these 2 policies is early April 2017.

Today, 17th MArch 2017, an agent of Max Life Insurance (Nikhil: Phone #[protected] called me and mentioned of a 10% discount, which is typically given to Agents, that would be passed on back to me if I transferred the premiums directly via NEFT to a bank account they would specify.

A 10% reduction in the premium would have meant I saved Rs 30, 000/-

This was too good to be true.
Which is why I did a google check on the same.
Thanks to the complaints made in this forum, I now know this is a fraud scheme.

These fraudsters have MAX LIFE customer information, obtained through lax information security policies at your end, and are making illegal use of the same.

There have been quite a few instances of this fraud happening, and too many for Max Life to treat as a one-off.
It is not good enough for MAX LIFE to request duped customers to file a police complaint after the event.
Please take the proper preventive measures to ensure customers are not being deprived of their hard earned money.

My request to you, MAX LIFE, would be to immediately send an email or SMS to ALL your customers alerting them to such a fraud.
Send the email / SMS now!!

After all, these fraudsters claim to be MAX Life agents and have information that customers shared with MAX LIFE trusting it would not be used for malafide intentions

Thank You,
Arup Ghosh Dastidar
[protected]@hotmail.com

I have a policy with max new york life insurance which was taken in May 2009 and the policy number is[protected]. This is basically my father's policy name as Mr Sushil Kumar Sharma. The Agent Mrs Kajal Rathi, Agent code: 251587 told him to pay his premium for at least 3 years after that you can continue this policy otherwise you can withdraw the amount. The company will pay your deposit amount with some advantage, So continuously My father had paid 3 years premium of 80, 000 i.E 20, 000 per annum for 3 years + 20, 000 Policy Amount. Now in Feb 2017 when I consult with their Ghaziabad branch, they told me you have to continue this policy till 75 year of age, then I decide to close my policy and request to return my amount, The manager told me the company will return only 50, 200 Rs. After hearing their words, I was shocked, the company is using my deposit amount from last 6 to 7 years, then what about the interest amount?

Basically, we don't know about the company & company owner, as per the customer perception, your agent is one, who represents the company, for the customer he/she is the company or owner, so they must give proper information without focusing their target, and company must appoint the Genuine agent and guide them to focus on customer satisfaction, not on the sale.

Company agent ditched my father by giving wrong information, company and Mrs Kajal Rathi is responsible for creating this scenario.

Conclusion/Suggestion:

The company should pay my actual amount (80, 000) which i have paid + Interest Amount. And take suitable action against the Agent Mrs. Kajal Rathi.

Can call me at : [protected]

Sir,
I have taken a Policy No.[protected] as assisted by Axis Bank Chennai Main Branch in 2011. When I taken the policy they informed me that the policy is for 20 years but you can surrender after six years. (If I paid six years premium regularly). Due to my unexpected medical expenses, I decided to surrender the policy since I have paid six year premium totaling to Rs.1, 52, 000/-. I have approached through axis bank to surrender the policy. The person told me that they will call you and inform you about the surrender value after your confirmation only they will surrender the policy. But nobody spoke to me about the surrender value, suddenly I got a SMS that your request is in process.. After two hours I got a credit confirmation from my bank a sum of Rs.71, 130/- credited.
Then I approached Max Insurance office at Mylapore they told me to mail a complaint/request stating that without confirmation they surrender the policy. But they have not even acknowledged the mail.
Rs.80, 000/- deduction is a very huge amount (it is my 4 month salary)
I can not sleep or eat for the last 6 days.
Because of trust I have lost Rs.80, 000/-. I request you to deduct some reasonable amount as surrender charges.
I anyone can help me, It will be very useful to rest of my life.
B Jayagurunathan
[protected]

Dear Sir,

I have a policy of above number and I receieved a call from your Lucknow branch stating that the above policy is not very useful. They told me that this policy can be surrendered and if I get a new policy with a premium of 40000 than therer will be no deduction on my old policy and also I will get a bonus. Initially I did not heed their advice but I was repeatedly called and also they told all details of my policy my dob, my address and also agent name and code who did the policy. I was asked to send address proof, adhar card pan card, cancelled cheque and a cheque of 40000. I did send all these to your LUcknow office on Feb 7th. After that I received a new policy no[protected] on 25th Feb and they told me that the money will be done RTGS by 28th. After 28th when I enquired I was told cheque had been send from Head office by speed post Tracking no EB[protected]IN which was again found to be false. Again they told me that they will do RTGS and till date I am being fooled.
The concerned agent of our office was Mr Rahul ([protected]) .
I would request max life to terminate my new policy and refund my amount of Rs 40000 to my account.
I have all conversation with him and all my call records, please expedite the matter or else I would have take it to consumer court and IRDA

Hi,

I had purchased the online term plan of sum (50 lakhs) paying the annual premium of amount (Rs. 5093.65). After purchasing the same I had my medical done on the same week (Saturday). Next week I had a chat with one of the executive and I was told that the policy has got issued and I would receive both the soft as well as the hard copy within 2 to 3 business days. After that discussion it's more than 5 days and when ever I am giving a call I was being told to wait for another 48 hrs i.e 2 days. Whereas I discussed with few of my know persons they applied for the same policy and they have received the hard copies also in their communicating address.

I am not understanding why MAX is lingering the issue unnecessarily while everything has got settled and the policy has got issued. Unnecessarily they are buying time from the customer and wasting time so that the free look period of 30 days get over and the customer cannot claim the amount.

If this is the case at the initial stage of issuing a policy they how much a customer needs to be harassed while claiming the amount in genuine case. The customer care executives are not at all polite/ helpful also, as they dropped the phone without listening to the customers. I had recommended few of my colleagues to go with MAX and now I need to tell them to think twice before renewal.

I don't want to continue with MAX after this incident and do the needful to cancel the policy and initiate the refund.

Thanks & Regards,
Partha Pratim Pal
Email: [protected]@gmail.com
Mob: [protected] / [protected]

I will summit my policy on 21/2/17 .but i want recive my money

Dear sir /madam
I would say this us new way of fraud.

I paid 99k in month of dec and i got bond also but after 3 months 99k credited in to my account and when i asked customer care they told me that bank has not intake your proposal but i got bond after accepting by bank.

Now they returned money but who will pay 3 months interest and maturity amount.

My number is [protected]

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

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

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