Max Life Insurance Complaints & Reviews

HI Support Team,

My policy number is[protected]ULIP balanced fund .I have raised multiple follow up complaints on customer care support in regards to my policy -Complaint number 16257146 .Each time they assured that resolution will be done .The provided resolution as money will be refunded exceptionally on my request and will be sent in form of cheque in 7working days .The request was to not allocate money deducted from my account as ECS towards my fund and instead refund it as I didnt get any communication of ECS deduction before deduction date 8-Jan-2016 .on Feb -5 representative confirmed that the money is not allocated and is in process of refund and I should wait for 7 working days to get cheque complaint number 16390605 was given for that .Today when I called to know status of my request it was mentioned that the refund may not be possible as funds are allocated already .However after discussion he asked me to wait for call back .It's been almost a month I am struggling to get my own hard earned money and Max life insurance is just not resolving my query .I will not be recommending Max life insurance products hence forth .Please suggest if you can help me on this reqards

Suchit
[protected]@gmail.com

I terminated my policy on 4 th feb and submitted all necessary documents at the same time and got a acknowledgement receipt also. On 8 the feb i cam to know about ecs deduction from my bank account towards Max. When i called on helpline today, they told that the policy is still active !

In Ahmadabad, Max office Rembrandt never pick phone line ! Very absurd !

This is not a complaint but one need to learn about the unprofessional behavior of Max Insurance ! I dont know if the procedure of cancellation is yet not started, how many days they will take to refund my amount ?

- JG
09/02/2016

Respected Sir/Madam,

It is with great regret that I am writing this letter to your as I want to bring to your kind notice the extreme trouble and inconvenience I have undergone due to your negligent services
I am Sahadeb Paramanik under service of Border security Force (MHA, Govt.of India) as an Assistant Sub Inspector (Radio Mechanic). On 2nd August 2014, your company executive Mr Nitin and Mr Ajit visited BSF Camp 52 BATALION Raisingh Nagar, Rajasthan and was lured to purchase Life Gain Premier 15 Yr 6 Pay insurance policy of your company by your representative. He informed me that as per the scheme of the policy of your company, on purchase of policy I would get below mentioned benefits. Believing these words to be true, I made a payment of Rs 9, 000/- towards the policy no:[protected] to your company.
The benefits told were-
1. Monthly premium -Rs 3000 is directly deduct from BSF pay slip.
2. Depositing period will be 6 years
3. Maturity would be after 10 year .if my present age is below 35 years, I shall be get maturity approx Rs 9, 00, 000/-
4. Loan will be granted from any Axis bank on behalf of this policy and maximum amount of loan will be sum of maturity i.e. Rs 9, 00, 000/-. Because Mr. Tomar said max life and Axis bank had collaboration.
5. Medical risk cover Rs 5, 0000/-.

However, the problem remains that at the time of purchase, I clearly told your company executive to send the policy papers to my officials address but they sent it to home address and later on, when I visited my place and checked the policy papers, I found that all the promises made by your company executive was fake and I realized that I was duped by your company executive.
Disappointingly, on having received such fraudulent and deficient services from your side, I filed a complaint vide Ref No. 14222580 with your company executive and told them to cancel the policy and asked for a refund of my hard earned money. I made several calls to your representatives in this regard but failed to receive a satisfactory reply from your side.
I have been trying to communicate with your company for some time now but there has been no response from your side. Neither there has been any hint of any kind of an attempt to redress my grievance against your company that could closely justify your act of cruelty. As promised by your company I am entitled for an undisrupted and honest services by your company and your act of deceiving me cannot under any circumstance be overlooked nor can it be forgiven and I contend the same.
I am appalled to have received such inept and unprofessional services from a company of your repute which has created unnecessary hassles in my life, resulting in loss of time and money.
It is very clear that your company is involved in fraudulently extracting money on the basis of misrepresentation from the customers. This attitude of your representatives has caused me a great deal of monetary loss and mental agony. The irresponsible behavior of your staff and the ill treatment which was meted out to me has caused to me utter hardship and trouble and caused to me a great deal of mental frustration and anxiety.

As a consequence of your deficient service and the repeated incompetency displayed by your employees, I have suffered undue hardship and mental frustration.
I would like to emphasize that:
• You have been grossly negligent and unprofessional in your approach.
• I have undergone a lot of extreme stress and mental agony because of your deficient service.
Given the above sequence of events, I request you to cancel the policy and refund the entire amount paid by me immediately.

ABOVE COMPLAINT PREVIOUSLY LOGGING BUT TILL DATE NOT SOLVED.
ON SEPT 2015 ONE OF GRIEVANCE OFFICER CALL ME AND TOLD ME REFUND WILL BE INITIATED WITHIN 15 DAYS BUT TILL DATE NOT REFUNDED.
I hope that I do not have to take these steps and look forward to an amicable resolution of this issue.

Warm regards,

SAHADEB PARAMANIK
52 BN BSF, RAISINGHNAGAR,
NEAR RAILWAY STATION,
SRIGANGANAGAR,
RAJASTHAN-335051
[protected]@gmail.com,
+91-[protected]

I want to buy mutual fund so I visited the Axis bank in Aurangabad maharashtra.discussing after agent he force to buy fast track super plan.In discussion he told that you can withraw amount after three years .when I search this policy on internet and got almost 35 pages information which clearly shows that this is not mutual fund.this is life insurance unit linked plan, which I didn't want.2)it shows policy holder can only withraw after 5 years.3) policy holder can only withraw partial amount.
my amount Rs 25008 on 15/1/2016 has been debited from my Axis bank accountfor proposal no[protected].16/01/2016 I got call from maxlife to confirmationat that time I asked about my doubt they also confirm that this is not mutual fund.I denied this proposal on confirmation call due to above reason .Till now my proposal is pending.I email to company of proposal denial.now the question is when will I get my money back to my account.
Santosh Hawle
[protected]@gmail.com

My policy proposal is[protected], payment done online, and after medical company has rejected proposal and mailed the reason for rejections also mentioned that amount will be refunded shortly, But still amount not refunded by the company. Dear Friends I suggest all of you do not go with such a fraud company, who is not giving the money back.

I have started a policy with Max Life Insurance on 2012, (Policy #[protected], and paid 4 years premium continuously approximately the total of Rs. 200, 548. Now I have decided to surrender my policy due to some personal financial issues. When I have requested the details of surrender value, I received the reply from Max Life Insurance saying that I will get back the amount of Rs.73, 053.40 only. What kind of refund this is... shocked &, frustrated after hearing this reply. Thanks,

Dear sir, I am suman mondal, have a policy( no[protected]. I already paid three premium, but i have to stop and premature the policy, so tell me how i get the police value in very quickly and how much amount i will receive.

Hi, I am holding the max life insurance policy number[protected] since Dec 2012. I have already paid 3 premiums of 50, 000 each. In last 3 years I never got any call from the company regarding the policy. I never received the statement in mail or hard copy. Now after 3 years, they call me everyday and ask me to remove the agent code from the policy, otherwise commission will be paid out to the agent from my bonus. This is absolute nonsense. Also, tired of all this, I now want to cancel the policy and they told me that the surrender value will be around 55, 000, though I have already paid 1, 50, 000 as premium in last 3 years. I am very disappointed and frustrated. All this was never told when the policy was issued. Is there a way I can get better refund after cancelling the policy. Thanks Jassi

Dear sir, I came to known that without my knowledge there is a Policy in our company in my name I didn't sign policy document and ecs form. Also didn't receive any policy document, phone calls, mail and msgs regarding the policy for the past 1yrs. But on 1 St January without any prior intimation through mail or msg my December month whole salary of Rs. 15272.27/-debted in my salary account. It's very hard to run my family without my...

URGENT against the following debit entry the amount has not been credited to MAXLIFE account The amountof Rs 49949/- has not been reversed to my account yet. Please do the needful for reversal of the same or guide me accordingly. sir transaction was done on 27 october 2015 at Thane Bharat bank branch Kalyan Dt Thane state :maharashtra. ac holder name Shivam Tanna savings account.

Sir I have got 32, 500/- and going to get another 34, 770/- but I have already deposited total 77, 000-/(approx), moreover there is no bonus till date. So after investing 77, 000/- for long 11 years, I will get only 67, 000/- resulting a huge list. So please have a look upon the matter and inform me soon. my policy no[protected] ph no-[protected]

This Company has so INEFFICIENT EMPLOYEES. They have mistaken typed by mothers name wrong on her policy and from last 7 years I'm chasing them to change it but nobody is listening. When I asked the guy who initially had all the commission from the insurance. Bhai abhi to main max ki taraf zada dhyan nahi deta. This was the reply given by the insurance agent, I'm presuming that he also took the dealer ship of Apollo now. Please someone help me to get my mother name changed as its a typing mistake. She will not be able to travel anywhere. But Seriously worst and disgusting service my MAX

Phone calls from Delhi NCR Name Pooja Sharma Ph No. [protected] saying that your Policy With Max life No.[protected] is machured & if you will invest Rs 25, 000/- in other policy you will get rs 2, 25000/- Amt which will transfer in A/c This will happen in last month & again today the Name Rashmi Sharma Ph No [protected] saying the same. & miss guide me Sangita Parkhe Jalgaon MH

Policy Num#[protected], Max Life Insurance. I personally went to the Hyderabad branch to take a policy. The representative sold the policy to me by telling few good things about the policy. I had paid premium for 3 years, and now came to know that what all he said is all fraud and nothing is true. Max Life is not ready to accept the blame and started using standard statements, that they will escalate and started telling that you have signed the document and agreed to our policy terms and conditions and all but not ready to compensate. In fact they said they will refund 1/3rd of premium paid so far if i want to surrender the policy. Premium amount is approx. Rs.37, 000 per year, i.e. paid so far Rs. 1, 10, 000 and they will refund only Rs. 45000 approx. and not ready to do anything else.

Hi this is Akash Chheda. One your agents has put a fauged signature on the application form and has started a policy under my name which I need to continue now for 6 years. I am going to complaint against this in the consumer court as this was highly unexpected. Such frauds need to be taught a lesson.

Dear Sir, I am Ganesh Dutt, I worked in Max life insurance in year 2011, My Provident fund account number is PF-PN[protected], I just want to inquire about my balance and how can I apply for withdrawal online ? With best regards, Ganesh Dutt [protected] [protected]@gmail.com

Sir, This is Mr. Nayana Mardi complaining against tele cheating: 11 month back in December 2014, I received a call from saying
Maxlife Insurance Company ltd.BW-231 chamber No-3, Budh vihar Vijay nagar, Ghaziabad- 201009. Regarding offering bonus of life
insurance policy which have been done in 2010. The person murali manohar mishra, he told for that complete of 5-years they are
offering bonus of 24000/- for that I need to give a check of 7, 000/- as security deposit. The check he told me to write in
the name of "SUNSHINE SERVICES". I paid according to that. I sent in professional courier to the above mentioned address,
again few days after he again called me saying that there is a verification in the name of travel, I have to say that I have
took the Travel policy and no connection with the Insurance. I asked why I have to lie, he replaid your bonus awarded duration
is expired, now to get that we have taken the authority for that there will be a verification department for that you should
not show that you have bonus, so I answered as he told like I have purchased the travel, after some days my check got cleared
but he told the amount I paid will come along with the bonus amount .but I dint get anything. After some days my number was
not active since I traveled to France for my office work purpose(about 2 months)after coming back from France I got anther
call saying Amith Khanna that my file is on hold, So I asked actually for me called person is muralli manohar mishra, that
person replied that he left the job, so for bonus to get along with security money you have to send me anther check addressing
"MOUNTZ CLUB" of about 15, 000/- but he told it will not get clear and verification call from verification department but
I have to tell the same story as I told before . I told the same but that check also got cleared. I asked the same person
why? he told its my mistake, again they called asking this time no mistake we will do the settlement, asked again check of
15, 000/-, but that also got cleared, I got disappointed I wrote a complaint e-mail to Maxlife Insurance, but they didn't
response, again anther person Adithya called and told me he is calling from Reserve bank of India. I believed he told this
is the final clearance you have to give me check of 35, 100/- so you will get 1, 25, 000- as total amount but they cheated me,
that money got cleared again they asked for 1, 00, 000/- for the security, I didn't give they asked for 50, 000/-, I dint give
finally they asked 30, 000/- I dint give because I realized that I got cheated by these people, Sir kindly catch these cheater
and punish them, Kindly recover my money back to avoid FINANCIAL loss sir. Total amount I paid to them is 72, 100/-.I also got
the travel kit from the "SUNSHINE SERVICES" and "MOUNTZ CLUB" they are also take part of cheating. Please take action against
them.
The contact numbers of cheater: Amith khanna( +91 [protected], [protected], +91 [protected], [protected], +91 [protected]);
Aditya (+91 [protected], +91 [protected]).
My check is from HDFC bank: check series from 482008 to 482014.

NAYANA MARDI

I had Max Life Insurance, but due to some financial I surrender the policy. I had paid the amount of the policy. When Stopped the insurance payment I used to get calls from agents, you have lapsed your policy. I replied them I have some financial problem so I not able further policy amount. I have requested them to close my policy. I got assurance that you will not receive any call from us regarding the policies in future. But After a month agent called me & said me Why are you not paying the amount of your policy. So I explained the event to them & he OK no problem. But this problem did not stopped. Different agent with different still calls me. This is like harassment now. One of their agent called me & used foul language.

My name is Aarti Prajapati. I am complaining on behalf of my father who became a victim of mis-selling of the policy no[protected], premium of which is 12000 per year. My father is not well-educated and cannot read/write English. Max Life sold the Whole Life participating policy to my father stating that he will be required to pay the premium till 5 years after which remaining premiums would be paid through bonus and my father wouldn’t have to pay from his pocket. My father was 55yrs when he took the policy. As explained by Max Life, the premium payment term was 5yrs, so my father planned for next five years and purchased the policy. Today he is 60 and retired with no earnings. When he called Max Life regarding premium payment through bonus, he was informed that he has to pay premiums till 15 yrs. Only then bonus would be given. My father was shocked to hear this. He informed the representative that this is not what he was told at the time of buying the policy. The agent argued and suggested various options to my father like (i) taking out 1000 rupees every month aside for a premium is not a big deal. (ii) your children can pay the premium. (iii) you can pay the premium from whatever savings you have. For a retired senior citizen, 1000 per month is definitely a very big deal. Why will he make his children pay the policy premium. Why will someone spend his savings on an insurance policy that too at an age of 60, when he himself needs the money to meet his own expenses. After some discussion within the family, this time, I called Max Life again to understand the policy. The representative while explaining told me that as per this policy, we need to pay premium for only 10 yrs. Looks like Max Life themselves don’t know the policy well. Some say 5yrs and some say 10yrs. Max Life is not trustworthy at all. My father now wants to surrender the policy. He got a bigger shock to hear that the surrender value is bonus + 30% of all premiums paid (excluding 1st premium). Till date he has paid 60000. He cannot afford to lose such a huge amount at this age. Buying this insurance policy has ruined his entire planning done for retirement. He is repenting his decision to trust Max Life.

I had a max policy #[protected]..I paying premium of 16750 for last 4years. Unfortunately because of financial problems i surrender the policy..I received amount of 6725 as my whole money..I dont know what these guys are paying..I aproched details regarding this at vijayawada office..They are saying 1st premium will be fully deducted..And the balance will be retuns at 30% interest..Ok fine 2 x 1600 =32000 and its interest 30% ..How much i have to get..I complainted regarding this they are saying one person is solving your issue..Same word from so many days..I dont know how many years i have to weight. My dear friends these type of all insurance companies are doing same.When ever they collect the payment they dont tell what is in policy..When ever we are claiming all the rules come they are simply robbing our money.