Max Life Insurance Complaints & Reviews

My fried who worked in Max made to Take a policy from Max in 2009 .Yearly premium is 5000+ including taxes around 5136.00 rs in march yearly .As i had No money i could not pay in 2014 march, so i paid the amount in 2015 febuary including late fee, but i got a mail that i have still a due of 32.0 Rs in 2014.Pay the premium to reinstate your policy. when i called the customer care they said it will be updated soon, i have a paid sum of Rs 5304 and have a bill online too for it., when i asked about the surrender they are saying that i will get only 30% of the amount after deducting 1 yr premium as i have taken whole life policy...they said i wont get anything and i have to pay till 25 yrs from start of the policy and if i die i my family will be get that money ..., that too if i die of disease only, cause it is a disease raider plan etc.. My friend who worked in Max is not working there now...I have been cheated ..i just cannot invest money yearly without any returns.Few months back when i called the customer care of max they said after 5 yrs of paying premium i can surrender the policy and take back my money, but now they say only 30% will be returned ...this is totally cheating... plese help i need my money atleast 75 % returns+ interests will do..I dont want to continue the policy.Here is the folowing reply what i got from the company.Policy Number :policy number[protected] policy taken in vellore, Tamilnadu We would like to inform you that the above mentioned policy is inactive in our records since 31 March 2014 premium due amount is Rs 32.86 .Please find below the cash surrender value details as on date, however these are the approximate figure and likely to change.Surrender Value = Cash Surrender value that is 30% of Total Premium -First Year Premium Cash Surrender Value = Rs 8, 229.34 please guide me...am in need of money.

I bought a policy from Max New York Life Insurance Company now name changed to Max life insurance.I bought a policy through my friend 6 years Back who was working at that time, a yearly premium paying plan(whole life policy)including dreaded diseases as mention in the plan.I directly at the office 1st later I started paying online only.Last year in 2014 I did not pay, but I paid this year including the late fee totaling Rs 5304 which I was asked to pay, I have also the bill for it.but when I enquired the company they mailed the details " premium due amount is Rs 32.86 "When I enquired about the surrender they say that only 30 % will be refunded excluding the 1st yr premium.I would get only = Cash Surrender Value = Rs 8, 229.34 Then what about my remaining money.?They say to read the offer documents or complaint against the agent, But the agent is not working in the company.Now I have to pay year 2015's premium.Am not willing to loose my hard earned money again, at least 70 to 75% money refund would be thankful. My policy number[protected], policy taken in vellore branch, Tamil nadu.

Max Life Insurance Annnual Premium Rs 10000/-( Rupees Ten Thousands Only) Paid as Online Payment ao 13-2-15 but the Premium Receipt had not been Generated.My Policy Number is[protected] Name N.KANNAN. Please send the Premium Receipt By Post Immediately.

My name is om prakash, my policy number is[protected]. I surrender of policy dated - 06/02/2015, but after surrender, my 100001.92 rupees was debited at dated - 09/02/2015, from my axis bank account. I request, please refund my 100001.92 rupess to my axis bank account. This is my second complaint, my first complaint submitted at date - 12 Feb 2015. If my money 100001.92 will does not refunded to my axis bank account, I will go court and media (CNBC, ABP NEWS)etc.

My name is om prakash, my policy number is[protected]. I surrender of policy dated - 06/02/2015, but after surrender, my 100001.92 rupees was debited at dated - 09/02/2015, from my axis bank account. I request, please refund my 100001.92 rupess to my axis bank account.

Dear Sir/Madam, I have experienced financial fraud of Rs. 64, 000 from MaxLife Insurance, agent name Purveshbhai Sheth, Vadodara Branch. Please help me to get my money back. In November 2014 Purveshbhai Sheth and Bhanuben Parmar from Maxlife Insurance had approached me for Insurance policy. I requested him for more details about policy. I had received answer from the insurance agents that once I will take the policy, I will get full details of policy by post with policy documents. I trusted both of the agents, so I signed form which was blank and paid the advance money by cheque. Later I decided to cancel, so cancelled that policy. In week time Purveshbhai Sheth again approached me asking to take another policy. He promised me that I will get complete details of the policy before actual policy will be taken. So I signed new form for quotation and paid money by cheque. I received call from many phone calls from Maxlife Insurance company for policy verification department regarding the policy. Every time I asked, I will verify policy only after I will get the policy related details and I want to know terms & condition first. Then Purveshbhai called my phone no. And on conference call he had taken details for quotation of policy. In that recorded call, I had clearly told following points : voice was not clear to understand, I do not have complete details and whatever Purveshbhai telling is right so more information can be taken from Purveshbhai. Mean time I requested Mr. Purveshbhai Sheth that, I don’t want to take the policy as I need money back for my personal reason and I cannot to pay very high premium so don’t proceed for any policy. Purveshbhai replied to me, he will not proceed for policy application and I will get back the money asap. Since November 2014 to 1st week of February 2015, I asked many time to Purveshbhai Sheth to return the money. Purveshbhai Sheth replied me that he has requested to his head office and I should wait. It is almost 3 months gone and still I haven’t received back money which I had given while taking quotation from Purveshbhai Sheth for Maxlife Insurance. There is no policy taken on my name as I haven’t heard back from Maxlife Insurance about any policy and not received any documents related to any policy. I also don’t want to go ahead for any policy with Maxlife Insurance in future so I want to make sure money must be returned to me and no policy should be imposed to me without sending full details. Please help me to get back my money Rs.64, 000 with interest asap. Thanks & Regards, Chetan Pilot Phone no. [protected] Email address : chetan.[protected]@gmail.com Address : 1 / 36, UdayPark society, Behind Panchvati, Gorwa, Vadodara. pin code-390016.

Dear Sir/Madam, I made a policy in Max life insurance in 2010 with policy number[protected]. My anual premium for the said policy was Rs 50, 000 and i paid total Rs 1, 50, 000 for 3 years till 2012. Due to fund un-availability i could not pay the premium for 2013, 2014. But since 2010 the fund has not grown enough as was promised. So i want to surrender the policy and want to go for refund of my investment on a gainfull mode. Kindly arrange for the policy refund. I have attached the premium receipt copy of 2012. Please let me know if you require any more document for the same. Thanks, Arijit Jaiswal

Dear Sir/Madam, I purchase policy from Max Life insurance on June 2010. My policy No is[protected].My policy term of payment is Annually.The latest payment made of my policy on Dt-19/12/2014 of Rs.10155/-. I got a mail on Dt-16/12/2014from Max life insurance that if you will pay before 31st jan 2015 then the late payment fee will waive off. And also i got a message on Dt-19/12/2014. So I just want to confirm the mail & message, i called to the customer support [protected] on Dt-19/12/2014. The support executive person told me that yes it was correct. So after that I made the payment by my HDFC Credit card. Today I called to the customer support to confirm the payment. But they told me that you have to pay Rs.249/- for late payment as well Health declaration form. But I confirm from the executive that you no need to pay HDF because i didn`t cross the 180 day limit. The day i make the payment it was 177 days for the payment due date. So right now i totally pissed off because i am looking for a loan against my insurance. It is totally frustrated me.I have all the proof for that. If necessary I will show it. So please help me out of this issue. It is not the payment of Rs.249/-. Its matter the service & communication they provide at the time of payment. I feel if anything will happen to me then how the nominee will get the amount. Thanks, Tofan Kumar Prusty

To, The Head Office, This is with reference to my policy SMART Assure Risk with Policy Number :[protected]. I had paid semi annual premium for an amount of Rs. 18000.00 dated November 30, 2008 needs a complete refund with interest applicable as i had requested in the past multiple times i wouldn't be able to pay premium as semi annually so please change my plan to monthly premium also would like to mention at the time of getting this policy i advised the same to the policy agent promised me you can pay semi annually upfront and later you can pay monthly, post which i kept on informing the max life insurance department i am paying monthly but they refused to accept money made several attempts on this occasion, now it's been almost 6 years i haven't received my refund from Max Life Insurance. Furthermore, this is my Policy Receipt Number :[protected] /2008-09/01 for your ready reference. Refund my Original Amount paid to Max Insurance Rs.18000.00 as you guys cheated me, it's my hard earned money and i haven't avail any benefit from my policy, would not ever suggest anyone to buy policy from max insurance Kind Regards Sagar

I have taken a policy with this company and my policy no is[protected] under the Plan Max Life Life Gain Plus 20 Participating Plan and the date of the policy is 27/12/2011. As on 27/12/2013, i have paid Rs.90, 000/-. This was taken through the agent Amsure. While taking this policy they convincingly stated that for this policy, the lock in period is 3 years and the policy can be surrendered any after 3 years and the surrender value will be...

Hi, This is Swarup Sinha and I want to submit a complaint against a fraud insurance policy which is being sold in the name of Max Life Insurance. The lady named Kanika Sharma called me first and spoke to me for 1 hr explaining me the policy and the details and the benefits. Later her manager ( as introduced ) by her - Amit Singhania called for verification and if I had understood the policy - 20000 for 5yrs and you get 40000+ on maturity plus 4000 refund once policy is in place as commission value. Also for lifetime insurance coverage, I was suppose to pay 20000 in the name of Club Max as its a joint venture with them. The collection agent came home in Pune and collected all the documents and the cheque in favor of Club Max. Till date I have not received any update or calls. When I call I get SMS alerts as in meetings from Amit Singhania [protected]. My Cheque got cleared on October 13 and when I checked back I found payee name changed from Club max to club max holdings.Is there any way I can recover my money. I need urgent help in this. I checked Internet and found these guys are fraud and have cheated lot of people.

Respected Sir,

1) Company's recruited agent named Sanjay Kumar had collected premium against above cited policy no, and produced me a fake provisional receipt.He along with his concerned branch manager fled away with amount collected.
2) Even Branch Manager given me a written signature proof of premium received.
3)The moment I realised that third installment/premium doesn, t realize in my policy no. i.e[protected];sooner I ceased my policy .But now company does not taking their stand to revert my loss back to me which was taken by their recruited/aligned representative only.

Even I underwent through a procedure of internal grievance redressal mechanism of a company but they responded negatively. .
With a great hope that I'll be in the position of true justice.

With Regards,

Usha Bhatia
Vill: Amtrar
P.O:Lilly
Tehsil &; District Kangra
Himachal Pradesh
Mobile no. [protected]

I want to raise complaint against MAX LIFE INSURANCE. Max Life Insurance is having a direct sales agency called 'IC DIRECT SALES AGENCY’ located at new Delhi. I got a call from the same agency and they offered me MAX Life Insurance Gain Plan with health insurance for my entire family. But after paying sum of Rs40000 for policy and waiting for last 2 weeks there is still no response. Even they don't attend my call and have added my number to auto reject. They have provided fraud information. MAX LIFE INSURANCE IC DIRECT SALES AGENCY PVT LTD (New Delhi) NAME OF FPR’s CONTACT NUMBER IC DIRECT SALES AGENCY: [protected], [protected], [protected], Kanika Sharma, Shika & Amit Singhania respectively. Request you to raise a complaint against IC DIRECT SALES AGENCY as well as against MAX LIFE INSURANCE. Please help me out to take my money back with interest and take proper action against the above company. If no response i shall go ahead and file a legal case against the same.

Sub : Policy No :[protected] Reference: False commitment /Cheating &Fraud by Max Life Insurance . I have been sold the above said policy on the given below assurance by then there employee : Mr. Nikhil Agarwal –mobile no :[protected] he committed on behalf of max life insurance that a pension of Rs 30000/ month shall be paid after I attaining the age of 60, whereas in policy it has mentioned only Rs 94617/Annum.2) a sum assurance of Rs 12, 61, 562/- -maturity after paying 10 continues years and I am eligible to get this amount back once I attain the age of 60 Years, whereas, in policy they have mentioned as 75 years .3) Bonus amount of a minimum of 20 L after attaining the age of 75 Years-whereas this amount is much lower than the commitment, mentioned in policy .When I came to know about their fraud, I have sent a mail to them for not presenting ECS in my account, but that also they ignored and go ahead with presenting the ECS in my account and extracted the quarterly premium of Rs. 48436.87 from my account for the qtr from October to Dec.

I have a policy (Policy No.:[protected] with max life insurance -Plan Name - Max Life Life Gain Plus 20 Participating Plan, and while opening the policy on Policy Issue date 25-NOV-2010 I asked agent(Mr. Akhileshwar Pandey - 206766) if in future I want to surrender the policy, he told me that there is locking period of 3 years and after that you can withdraw the policy anytime without any further charges .He did not tell me any charges will be deducted. I am urgently in need of money and so, I called up Max life insurance customer care, and they are telling me that I will et 30% of my investment and that too I wont get the money I paid in 1st year. If they want they can deduct the interest, but atleast return the amount I have paid.This is a fraud. They are not returning my money even after five years.

Hi Team, I got a call from representative (A) saying that he is from MLI and asked me to take insurance of 15000. Also he said that you can upgrade to free membership which is free and please make a cheque of 15000 in favour of club Max. Now they told that they will be sending me bond and documents, but its being 2 weeks now. So i thought of searching online and came across this site. In my case I have not got the bond yet, and still these guys (A) are in contact with me. They are telling me that some agent (B) will call you and you have to say that you have taken holiday package and not any insurance.(As per them (A) this will save the agent commission, which according to them i will get.) I had a call with agent (B) and he told me that this is not at all related to insurance and its only holiday package and this is not at all related to Max life insurance. I clearly mentioned each and everything to agent(B) . Now this so called Mr A is calling me and asking me to clear agent call by saying that this is only holiday package. What should i do now..????? Help appreciated. Reach me at [protected]@gmail.com Regards, Ashish.

Dear Madam/ Sir, I have taken Life insurance policy from Max Life (policy number[protected], but it was totally different from what Max Insurance adviser told me. So, I send Free look cancellation form. But company has replied me that your free look period get expired. As per policy there is 15 days FreeLook period from the date of receiving policy document, which i received on 26th Aug 2014. And I send Feelook cancellation form on 2nd Sep which is received by your office on 8th Sep 2014. The period between 26th Aug to 8th Sep has not completed 15 days. So, my freelook period has not been expired. It is my kind request to you kindly look into the matter and do needful. Thanks & Regards, CA Saurabh Shukla M. No. - [protected]

This is with regards to my Policy no[protected] ..Max Life Life Partner Plus Limited Pay Endowment to Age 75 Plan ..Please rename this plan to a "CHEAT plan"..I am paying premium payments for the past 4 years ..Monthly 8347 ..Yearly 1 lakh plus .. i have paid for 4 full years . When i took the plan no one told me about the surrender value . Yesterday i connected from USA to Bangalore customer care .. i was shocked when the representative told me my surrender value === First year premium is a donation to you GUYS and i get only 30 percent of the remaining premiums have paid .. Why was i not told about surrender value when you guys signed me up ...Its hard earned money ... My advice to people looking at max life ...please be aware "This is a scam"which is a legal i guess @ People who can help .. Should i continue with this or just take the money which is not evene 35 perecent of what i have paid ? please reply @ [protected]@gmail.com

I am Manan from Kolhapur. I had taken a policy of Max Life in Oct 2010. My policy states that it is a non linked non participating policy. However, I have been accrued allocation charges, fund management charges for a traditional policy. Lots of mis selling from Max Life Insurance.

Hi there, My Polcy number:[protected] An agent came to my home and told my father that we will get around 8 crore rupess if we join some MAX policy. We gave two instalments of one lakh and twelve thousand rupees each. Later I found that there was nothing like crores or something. He explained all these things on a piece of paper and we have that paper with us. Sep 27, 2014 Today, after three years another agent name : Alok Srivastava (Claims to be working in MAX complaints department) called me and asking for one Lakh rupees, and promising me that I will get around four lakh rupees in next 45 days. This agent is pushing me to submit the money today itself. I don’t understand why MAX agents/employees are always in such a rush for money. Another agent(claims to be MAX Life Insurance head office) called on the last eveing, asking for 25000 rupees and promising me that I will get my money back. I have lost 2 lakh 24 thousand rupees, now MAX people are asking for another one lakh. But none of the agent/emplyee is ready to give me anything in written. I will appreciate if anyone can help me. Please feel free to ask for further details. Regards Bhupesh Pruthi Call @ [protected]