Max Life Insurance Complaints & Reviews

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.

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 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]