Max Life Insurance Complaints & Reviews

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.

Please note that, against the following debit entry the amount has not been credited to CESC through Billdesk. The amountof Rs 15000 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 21 september 2015 at 2.21 pm. my account no [protected] central bank of india, .branch loni, Dt Ahmednagar state :maharashtra. ac holder name Lingaraj harihar, savings account.

I have purchased a money back life policy fro Max in 2004 and paid total premium of Rs. 76820 and received maturity and money back benefit in total Rs. 79531 which is too much less as benefit of Rs. 2711 in 11 years. No insurer declare the bonus rate during policy purchase but in case of other insurance company the return is reasonable. Now Max is saying that the amount is ok. I have contact to Grievance Redressal Officer of Max Life Insurance ([protected]@maxlifeinsurance.com and manager.[protected]@maxlifeinsurance.com and service.[protected]@maxlifeinsurance.com ), but they are ignoring and regretting my case saying that payment was correct. If it is correct then why did not they have mentioned the interest rate or PUA during policy purchase and how it is correct that total maturity and money back benefit will be same as premium amount. Policy no[protected] IRDA Token number=[protected], Entity ref. number[protected]

Dear Sir, My PF account no is - PF-PN[protected]..I was an employee with Max newyork life insurance co. ltd. as a sales executive, I have resigned from my services by company procedures. kindly let me know the procedure to release my fund and also the account balance Regards, Rajan Sharma [protected]

I have given an application for change of credit card 4 MONTHS ago. There is no response and some action has been taken after calling customer support. Only recently some action has been taken, but again after multiple calling and forced follow ups. Reached the support in all the ways possible, but the support has been snail pace.

Application number[protected], enrolled on sep15, 2015

1. How long it would take for processing policy application?
2.How long this huge delay in processing the policy and keeping me on
high risk will go on ???
3.Provide me details of agent or sevice representative who had
enrollred me in this policy. 4.Why he didnt clarify with me that there
is such a mess underlying in policy finalisation?. 5.Why did you
deduct my preimum in advance then, when you were to take time in
finilising the policy ?
6. Who will be said liable for any mishappening occuring to me during
this period of processing ?Will company pay my nominee the claim
during this period of suspension?

I request a clear prompt response from your end instead of a
tailor-made ficticious reply .

I am manish robert pagare ex employee of max life insurance co ltd, my emp code is bby 4691. Resign in 14 th may 2015, courier my pf related all documents but still i have not receive any details of my pf no is pf-pn[protected]. Can you give me the status of my pf! manish pagare [protected] [protected]

Hi All,

Please could help in getting my money back, these max life people are trying to cheat as much.

I have paid around 1, 35, 000 and because of the stupid service i want to cancel the policy and looking for 100% refund.

Please help me.

Regards,
Nancy

My name is Om Prakash and my wife Kamini Sinha. We jointly surrender the policy on 14/10/2015 . My policy number is[protected]. Max Life Insurance Company said that they give refund after ten days but I would not any refund. So, lastly I requst that please give refund (money) to me.

Hi my name is panchanand shaw and my policy number is[protected], the agent who have created me this policy have given me all the fake information and wrong promises about the policy, i contacted lots of time to max life customer care number but your customer care service is too bad they have just giving me the notification that sir we recieved your complain and we will get back to you regarding this shortly, but no one have resolve my issue yet, i told every maxlife representive to cancel my policy from a long time ago but they have not did it yet. i need it to be cancelled as soon as possible and refund my money because you have not given me the exact information about this policy, otherwie i am going to report this to consumer forum and police station as well, because you guys are doing fraud, you must have to stop this fraud otherwise i will take serious and legal steps regards to this.. i need my money to be refunded. thanks you regards panchanand shaw phn- [protected]

Max Life Insc.no[protected] dt 17/9/2015.Yes Bank Chembur Mumbay 400071 did not explain fully the details of policy, and when i wanted to cancell the policy, Max Life is refusing and saying 15 days have passed, Request you kindly consider the request and refund me the amount at the earliest,

I filled in a form for a Max Fast Track Super insurance Growth Plan in the name of my wife Sukla Das on 8th Sep 1915 through Axis Bank Narendrapur Branch, Kolkata. Fund for the purpose was withdrawn from my Fixed deposit on 8th Sep 2015 itself by Axis Bank. This fund was deposited by Axis Bank with Max Life Insurance on 10th Sep 2015. Even after receiving the money on 10th Sep 2015. Max Life Insurance has provided me a policy with an NAV of 18th Sep 2015. My email address provided in the policy was wrong. My dissatisfaction was brought to the notice of Axis Bank and the Max Agent immediately on 28 Sep 2015 with the clear verbal instruction to withdraw the fund if the mistake was not corrected. Further due to the incorrect email address assigned me by Max Life Insurance I could not answer its query pertaining to my satisfaction/dissatisfaction regarding the policy provided. Having received no proper responce, on 13th I returned the policy, made a written representation and filled in a form for return of the Fund of 50, 004/- deposited with Max Life Insurance. I have yet to receive a response. Please help me get my money back.

I just been to mysore branch for an illustration but branch manager insulted me in front of my colleague saying that illustration can't be given for any Tom dick n Harry.
Is their any illegal thing in giving just an illustration, I clearly told him I know abt the mli products, but he just ignored as if he is not interested in doing business, am sure with this type of attitude branch may disappear from mysore, MLI has very good products but the people over their is an issue.

Co. informed me that bonus of Rs. 2178.48 is due and cheque no. 648251 against my policy[protected] is issued in January 15. I have not received the same and requested for duplicate one through my mails. On 24 August 2015 company wrote that their Customer Service Representative will get back in 3 working days with a suitable resolution and advised me to quote reference number 15571771 for any further communication on this request, in future. But despite various mails no one turned up

Dear All, My name is Manmeet Singh Sehgal. I am owing a insurance policy with Maxlife insurance.I have taken this policy on Feb 04th 2012. My policy number is[protected]. I have paid premium for 2 years . My premium amount is 104307 ( One Lakh Four Thousand Three Hundred Seven Onle ) Yearly.. So totally i have paid Rs.208614 including taxes. Some Of Financially Problem I Can not Continue to deposit my premium this is my humble request to company please return my amount back i deadly want this amount if some of other way to refund my premium any fine you want to put on my money thats oky but please i request to you refund my money back. Please contact on my mobile [protected] or my e mail [protected]@gmail.com

Dear All, My name is Udaya. I am owing a insurance policy with Maxlife insurance.I have taken this policy on April 26th 2012. My policy number is[protected].I have paid premium for 3 years . My premium amount is 15000. So totally i have paid Rs.45341.41 including taxes. The sum assured is showing as Rs.182029.66. But when I called them for surrendering, I was shocked to hear that I will get only 9000 for the premium and 1100 as bonus. So totally I will receive only 11100 which is not even 25% of the total premium amount I have paid. The maturity date of my policy is 20/04/2032. When I asked whether I will receive the sum assured at least on the maturity date, they said again premium amount would be detected as per max life detection calculation. The detection policy was not said by the executives during policy purchase. So I request people to not trust Max Life and take insurance policies. There is no benefit unlike others insurance companies.

Super term plan for 5000000 purchase on 24/08/2015 and premium paid Rs.21033/-also, but original policy documents not send by Max life Insurance co. My policy no.[protected] no tracking details by SMS on mobile send by company also. I am not setisfy of after sale service of max life insu.co.

Sir, As i have been harassed by Max life insurance company for the last 9 months for the refund of my amount having Rs 15000, But They turned blind eye to release my amount with their clear intention to cheat me...And below are the reason you can came to conclusion... 1.Firstly I did not receive my bond .and they showing that i i have received my bond with their acknowledgement slip, But the fact is that it was not my signature. 2.they asked me that is one time payment plan, whereas it is long term plan and not one time investment, so they cheated me . 3.As i am not very rich and it is my hard cash amount, but they are not refund my amount. 4.Their staff behavior is very rude. 5. I have all related documents that prove they missell me the product., if you allow me to show the documents i will show you. So pl get my amount refunded as i am tired But i will fight for injustice committed. Thanks and Regards Badri Pathak [protected]

Dear sir, Myself Prof. GAURAV R. PATEL. DOB : 01/01/1982 M:[protected] As I bought a policy of Rs.1, 05, 000/- approx. from one o[censored]r life EMPLOYEE/advisor/agent around first week of june, 04/06/2015. First of all, I didn't received any document at all, Totally not happy with the initial service. I have now decided to cancel it with MAX. Its my humble request to help me to cancel watever my policy with MAX, and want my money back as soon as possible. Waiting for ur positive reply. THANKING U.