Max Life Insurance Complaints & Reviews

Dear all,

My name is deepthi and am from bangalore. I have a policy with max new york which was taken in nov 2014 and the policy number is[protected]. The complaint on them is i had payed 3 years premium of 72000 i. E 30, 000 per annum for 3 years. When i got to know that the lock in period is 3 years i mailed them asked about my fund value and they told me that it is 90000 but when i asked them to surrender for the same amount they told me that 30% surrender charge would be applicable which was not told at the issue of the policy and they said i would now be getting some where around 42000... Then i thought why to lose 47, 000 and mailed thwem back asked for some assistance on this. Please help me how to get my full amount back, i bought this policy just cause the maxlife agents had told i will get the paid premium in full after 3 years locking period.

This is with reference to the above mentioned policy, which i had surrendered on 15th nov., 2016 at chembur branch. Please note before surrendering my policy, i had enquired with the executive at chembur branch about the surrender value, so he said that i will get an amount of rs. 41000/- and i also enquired with the executive whether my premium which was due on 16th november, 2016 will be deducted or not, so he said that it will not be deducted after i surrender my policy on 15th nov., 2016. But unfortunately the premium amount of rs. 30, 524/- was deducted from my account on 16th november, 2016 inspite of surrendering the policy. Then when i called up chembur branch to inform about the deduction of my premium on 16.11.16, they said that i will get the deducted premium amount alongwith my surrender value within 7 days. But to my surprise, i got only my surrender value of rs. 40, 000/- on 20th nov., 2016. Then again i called up the executive at chembur branch, they said they will raise the request on my behalf. But unfortunately, i have not yet received the deducted premium amount of rs. 30000/- in my account. I have visited chembur branch several times, but unfortunately, my problem is not yet solved.

Kindly look into the matter and do the needful at the earliest.

Regards
Marina jackson
(M) [protected]

Sir
I am an agent working in Noida office.I was proactive for december2016.I have done15 meetings, attended twenty days in office.During december2016 computer was not working properly, so in system only eleven days have been shown as attendance in place of twenty days.
I have not been given AWS rs12000 for december2016.
I request you sir to allow the office for giving me AWS rs12000 for december2016
I shall be ever grateful to you.
yours sincerely
madhuri sharma agent code 611444
dated 20/01/2017 mob [protected]

I was advised by an Axis Bank employee, who came along with the Max Insurance person, with a plea to invest in the above policy. The Agent Code 453355. They said that the lock-in period will be for 5 years and the 6th year I will be able to close with interest and bonus received on the same. Since I was not receiving statements I called the Max Insurance help-line and it was a shock to me. The executive said I will have to pay for 6 years...

I have max life life partner plus endowment to age 75 plan -20 pay no.[protected] its returns are very poor in future. Today i called the helpline number for its surrender and it was told that first premium will be forfeited and and for rest premium paid only 30%(minimum) will be paid.I have paid 1.17 lakhs and now they are paying 41785/- for the same. I don't know how irda has approved the scheme . The company is big cheat.

Sir,
Ihave taken one policy from Max Newyork life During the year 2011 March 24th, and the policy number is[protected], My clint ID NO-[protected], I have Paid two instalments @Rs 25000/yanam, Total amount paid is Rs 50000, (Fifty thousand)Through Axis Bank Eluru, West godavari dT, Andhrapradesh,
But Due to my financial problems i could not able to paid the premium amounts, and discontinued the policy, I approched the local Branch office and requested for the retun of the premium amount, But they refused to return the amount and demanded me to continue the policy then only i wll get the total amount at maturity or on death, and i also contacted the head office through customer care I have received the same reply,
So I request the Consumer complaints forum to go through my complainent, and see justice to be done to me and instruct the Max Newyork Life insurance company to refund my premium amount
Regards
K.Markandeyulu,
Flat No c-4, SriHarsha Towers,
Tenaliramakrishna st,
Ashoknagar,
ELURU-534002, Andhrapradesh,
Mobile*[protected]
Mail Id - [protected]@gmail.com

Sir mera nam ashish kumar sony hai maine 21-11-16 ko axis bank ke thru max life insurance ke policy leya lekin bank karmi ne jo detal mujhe bataya hai vo bond me nahe hai jo 15 dayes bad mujhe mela mai mai es policy se asantust hu mai policy band karna cahta hu mujhe mera paisa vaps caheye

Sir/madam
my name tarun pratap singh policy no is[protected].
I was wrongly misguided and sold policy by ms sobha singh max life insurance singrauli branch mp. She told me that i have to pay one time premium and then after she will make to stop and release fund after one year. But now there are telling that i have to pay all premiums and there are not closing my ecs and telling to close my current account. Kindly requested to close my ecs and close my policy as soon as possible. Also kindly realease my policy fund.
Thanking you.

Hi my self Ashish, i had purchased the max life insurance policy in agust 2016, but still i want to cancel this policy because due to some family problem, and need money urgently but max life insureance is not cancel my policy and not return my policy, he told me you can withraw your money after 3 years...
Can you help me how to withraw my amount...
Ashish Malakar
[protected]
Email - [protected]@gmail.com

Dear sir

I m writting this message with complete distress disgusted and unsatisfied with your staff behaviour with fraudential call to customers to avail another policy.this is completly unacceptable and action should b taken to your concern staff. I got a call yesterday from Ankur desai/Arun saxena having mobile no [protected] from max life Delhi saying my 3 year commission rupees 165000 has been claimed by my agent and to claim this amount i have to remove the agent code and make the policy in self code... so that i can claim the amount and it will b directly credited to my account...and to claim this amount they suggested an insurance FD rs 49000 from bharati axa life insurance to be done as soon as posisible. When I caught their fraud they talked with abusive language ...and misbehaved... i just want from max that this kind of fraud to be stopped and take strict actions agaist such staffs.
I m having 1 lac premium per annum with customer id[protected]...i want these staffs to be punished who misbehave and do frauddential act with customers.
Sir humble request to u please take some actions. Else i will have to withdraw my policy.

Thanking u

Hello all,
I have opted for max life premium return plan.
Premium/year = 15125 including tax
Premium paying term: 11 years
Policy term : 20 years
Policy states insurer has to pay for 11 years (Amount = 163845 inr) and max life shall return the same amount after 20 years (Amount = 163845 inr).
If insurer wants to cancel the policy - he is not even going to get a penny. On conversation with customer care executive asked him benefits of policy, his suggestion is to get profited by death, which insurer gets sum of rs 1500000.
Policy itself is baseless and biased towards max life firm.

This is to inform you that I am paying the premium ( max life insurance ) for Rs 24704.67 against above policy, which got cleared from my saving account([protected]) of axis bank on 8.12.2016 . Till now I have not received any acknowledgement or the premium receipt .
Payment receipt have not been received by us since 2014.

Please settle this issue immediately other wise I shall file a complaint to consumer court.

Thanking you
Kartik Mishra
T.c 240 Street no -7 Pnadav Nagr
Near Shadipur depot
Ph : [protected]

Respected sir/Madam, I had complained about my cancelled policy no[protected] of no refunded amount of rs 3000 before almost 10 days . Which13 days have passed from the date of cancelld day . One of representative from max life customer care contacted me after comlained and I was assured to be contacted after refunding the amount . But as yet neither refund nor any call have come from max life incurance. Dear sir/Madam, please refund my rs 3000 as earliest as a reputated and responsible incurance company for every indian citizen . So I hope quick action from max life incurance not assurance .

Im intekhab ahmed, took max life insurance policy no.[protected] in may 2011 wid an annual premium of 14999/-. I hv paid all my 06 premiums till now..14999*6= 89994/-. But wen i talk one of d representative on fone regarding my surrender value, she said u vl get only 46000rs/-... I just want to know why so less wid reasons...expecting d reply soon @ my email id..
[protected]@gmail.com

Respected sir, my policy no[protected] has been cancelled on december 16, whice a sum of Rs 3000 was paid against the following policy number not refunded yet to my acount. For whice I contacted at nearest axis bank and was assured that amount would be auto refunded to my bank acount . But after three days the amount have not yet been credited to my acount. So I hope a quick action on my problemes.

They are cheating people by selling policies which don't earn any benefit and their standard answer is that Max life is not doing good or the market where you money is being put on is not doing good. I have taken this policy for my daughter education and the agent who sold me this policy now tells that it has more admin charges. Max Life sucks in short.

I am Faizuna Shaik from Bangalore, My Late husband had made this Max life Guaranteed Monthly income plan policy on my name, last year he passed away. We have paid 4 annual premiums of 93000 each. 2 annual premium were pending but since I am in financial need I surrendered my policy here in Malleshwaram branch but according to policy & promised by max life people instead of 360000/- after deduction of 30% of all 4 premiums, received is only 159000/-. Few of their executives themselves are confused. Now I am requesting the malleshwaram branch Max life staff to check and credit the balance amount but they are unnecessary delaying and everytime I get the answer that "We have escalated the issue to head office and we still not have received any reply." Kindly help me out in this regard as I really have no patience and It is difficult for a woman of my age to travel everytime to their office.

Policy Number[protected]

Regards
Faizuna Shaik
[protected]
Bangalore

I had taken a life gain premier policy of max life insurance for an annual payment of rs.45000 per year in feb 2016. It is for 15 years pt, (6 years premium payment term or 8 years premium payment term) with 3 years of lock in period. But i want to discontinue now and withdraw the amount.
Will you please suggest how much amount i will get back in hand and how much time will be taken to complete the withdrawal procedure?

Name-abrar ahmad
Policy no[protected]

Sir/mam
Main aap sabse ek question puchna chahta hun please reply karna policy ya fd insaan kyun karta hai sirf isliye ki mehnat se jo paise kamata hai use save karke rakh sake aur time aane par un paiso se apni family ke liye kuch kar sake magar kya haal hota hoga us insaan ka jab use ye pata Chale ki uske jama kiye hue policy ke paise use nahi milenge.maine 2 saal pehle 2015 me max life insurance ki ek policy li thi.policy lete time agent ne yehi kaha tha ki agar koi emergency aa jaaye aap 2 policy payment ke baad chaho to apne paise nikal sakte ho 2 policy payment main kar chuka hun already crises ki wajah se compny ne 3 month se salary nahi di aur kuch month me meri sister ki marriage hone wali hai main able nahi tha policy continue karne me isliye maine max life insurance customer care me call ki aur apni detail batayi policy no etc...aur pucha ki main apne paise jo around 1 lakh 99 thousand hain kaise milenge mujhe and unka reply answer ye the ki aapko paise nahi milenge aapko pure payment karna padega policy ke uske baad aapko milenge us time mujhe aisa laga jaise main ek deathbody hun main bahot jyada roya becoz middle class family ka hone ke sath sath puri family ki responsibility sirf mujh par hai kuch month me ghar pe shadi hai main aap sabhi max life insurance compny ke employee se hath jodkar request karta hun ki please mujhe mere paise return kar dijiye please badi muskil se paise kamakar main apni family sambhal raha hun agar aap logo me koi ek person bhi insaan hai aur mere dard aur taklif ko samjh raha hai to please mere paise wapas kar dijiye otherwise pareshani ki wajah se mujhe suicide karna padega please mere madad karo mujhe paiso ki shakt jarurat hai please brother and sister please

I. Am chhammad sekh, my policy No:[protected], i was paid only one instalment, that is my first year premium. After first year i was stopped my policy upto at this time. So iam request to you ( company) please cancellation of my policy, And kindly give me currect solution of my problem