Max Life Insurance Complaints & Reviews

To,
The Manager Max Life Insurance
Sir, This is with reference to the policy No[protected]. I am writing this letter with great sorrow that I have trusted one of the most reputed brand in life insurance and in turn I have been gifted with wrong commitments & betrayals from your side.I have taken the policy no[protected] Dec2013 on the basis of below commitments from your staff or agent.
I have to pay premium of 25000/Year-till 6 Years and in return I will get the following benefits:
A. 10% bonus from 3rd year of the policy till the 20th year of the policy (2Lacs 4 thousand) which are mention in policy document as non guaranteed. But your agent make me a big fool he show it will be guaranteed from Max life.
B. Final Maturity value of this policy will be 4 Lacs 60 Thousand. in same section of 10% non guaranteed.

But your staff make me a big fool, I know the truth when your customer care talk to me about this policy, he told me that the final maturity will be 2 lacs 4 thousand & bonus depend upon company it will be 0 or 1, 2, 3, %, he also admit that your staff who did this policy play cheating with me. I try to solve my issue since 4 month before but all of your employee talk with me like 3rd class company. Before I was not aware all about that. Now I'm going to complained to IRDA+Consumer court.
But before it I request you to please release order to pay back me my money. Please solve my issue ASAP.

Regards Satish Kumar
Mobile No:[protected]

My Policy Number[protected]
I THINK THIS COMPANY IS CHEATING ME. I NEED RECTIFICATION.

Policy holder Name wrongly entered in the document as "SELVANM.D"
CORRECT SPELLING - SELVAM.D
Address was completely wrong - No.132, chinna thervazhi and so on ...


Please take the address from AXIS bank or No. 132, Chinna Vazhuthilambedu, Thervazhi post,
Gummudipoondi taluk, Thiruvallur district, Tamil Nadu, Pin code - 601201.

Dear all Before surrendering this policy[protected] i verified in your customer care and after knowing fund value and necessary documents required for surrendering the policy i went to the branch and given all documents and ecs cheque for surrender. The operation department has got all from me and given me the acknowledgement also...and intimated me that it takes 10 days to reback my money.( happened on 3/3/2014). 2) Today 8th day i called up the customer care and asked the status of my policy, they said it is declined and i have not paid 2 ATP`s. I was very much upset because in this pension plan there is nothing mentioned in surrender have to pay 2 ATP`S. More over this is unit liked plan with 0 DB. 3) Why your operation people in branch not intimated this on the time of surrender, same to customer service . The IRDA has clearly said in unit linked plan if the policy cross the 3rd year, it should be accepted for surrender ( there are some plans differ for 5 years surrender) But my policy documents said 3rd, 4th and 5th year we can surrender. 10 to 30% surrender charges as applicable as per surrender year. How can a life insurance company can reject the unit linked plan ...that too a pension plan just like this, i want clear explanation and surrender the policy.

We are from thiruvallur high court.Now a days we are receiving many complaints on max life insurance regarding calls to the customers.The company is calling customers and asking them to pay the premium.They are calling often to the customers.The agents are not intimating on the grace period and policy benefits.The agents are providing wrong information on bonus.We are collecting written complaints from all the customers and we are intimating the same will be forward to IRDA. i also invested in Max Life Insurance and lost Rs.20000/-. Regards Sridharan.

Hi, I'm an Axis Bank customer and an executive from Max Life Insurance and mis sold 2 policies to my father. The executive walked up and without explaining much about the policy and the maturity period, sold the policies to my father. today we are paying huge premium every year and our money is getting blocked for 10 years. this was never told by the executive to us. this person has cheated us and had taken the benefit of our genuineness. while we questioned him on this, he did not have an answer. I would want this issue to be resolved and I want my money back, I would like to stop both my policies immediately. request you to please provide a solution to the same, else I will walk up to consumer court. regards,

To, The Manager Max Life Insurance Sub: Policy w/o benefits Dear Sir, This is with reference to the policy no[protected],[protected] & [protected] . I am writing this letter with great sorrow that I have trusted one of the most reputed brand in life insurance and in turn I have been gifted with wrong commitments & betrayals from your side. I have taken the policy no[protected],[protected] &[protected] on the basis of below commitments from your staff or agent ( not clear) 1. I have to pay premium of 30000 +25000 = Rs 55, 000/- and in return I will get the following benefits a) Mediclaim of 6 lacks b) Discount of almost 50% on first year premium, which will be given in the form of cheque after depositing the premium and there after from 2nd premium there will be discount of 35% means I have to deposit only 32, 500/- from 2nd year till 10 years. After depositing the above amount of Rs 55, 000/-, I have again received the call that on the basis of above policy I have achieved some kind of slab, so company is giving me below Med claim policy along with the above policy and for that I have to deposit Rs 50, 000/- and I will get below benefits 1 Mediclaim of 10 Lacks for 10 members for lifetime i.e 84 years. 2.The above complete amount will be refunded with interest after one year. I have asked them that how company can offer such big discounts, so again they clarify that as I have achieved some slab so I come under some elite customer list and as they are directly from company not from any agent or broker, so company is passing the commissions benefits directly to the customer. After some days I received the policy document but nothing was mentioned in it, when I contacted them ( Mr. Sukhwinder Singh and Mr. Vinay Mehra) they told me that these documents are simple policy documents, the benefits documents along with the first year discount cheque will come after few days and these excuses goes on till April and after that they stop responding to my calls and never comes on line. Now I have received three policy documents with no benefits and just simple policy. And it is very clear that I have been cheated with wrong commitments and fraud has been done with me. This is definitely spoiling your companies image and brand on the basis of which I have taken this decision. You are requested to kindly cancel my polices and refund my complete amount of Rs 1, 05, 000/- deposited with you, as I completely lost the trust & faith. I have in your esteemed organization. I also request you to kindly take strict action against the people who has done this with me, so that they can’nt cheat anybody in future. I once again request you to kindly refund my total amount and oblige Looking forward for a favorable & positive reply Thanks & Regards Gurpreet Singh & Kawaljeet kaur (Policy Holder).

This is Ruchika Thakur. I am policy holder with Max life insurance[protected] I want to make you aware that MAX LIFE INSURANCE is a scam. They just fool the people. I was offered a policy by stating that for initial 3 years I need to submit 20k rupees each year and after 3 years, I will not have any need to submit money however, after completion of 5 years, I will receive 1 lack 20, 000 rupees back. Whilst my 5 years were over in January, I asked my agent for the process of money return but have been told it will be 45400 that I will receive back. On top of this, because I am out of India from a long time, I will not receive money unless I will physically go to that office in Amritsar. Could you please highlight this scam to the public and save someone else to loose their hard earned money?

Hi There, This is Ruchika Thakur. I am policy holder with Max life insurance[protected] I want to make you aware that MAX LIFE INSURANCE is a scam. They just fool the people. I was offered a policy by stating that for initial 3 years I need to submit 20k rupees each year and after 3 years, I will not have any need to submit money however, after completion of 5 years, I will receive 1 lack 20, 000 rupees back. Whilst my 5 years were over in January, I asked my agent for the process of money return but have been told that amount will be 45400.. (said that I breached some Terms and condition but have not been told about these terms and conditions for past 4 years) On top of this, because I am out of India from a long time, I will not receive money unless I will physically go to that office in Amritsar. Could you please highlight this scam to the public and save someone else to loose their hard earned money?

i am dhananjay bhosle i received msg about my policy[protected] in which my bank detail and bank name wrong pl check my bank detail and if you have any problem contact me on my mob no [protected] if any default of premium for which i am not responsible regards adv dhananjay bhosle

Dear Concern, I wish to highlight the fraud being committed by MAX LIFE INSURANCE company with hands-in-glove with ’IC DIRECT SALES AGENCY’, New Delhi (an channel partner of theirs). I got a call from the same agency in Dec-2013 and they offered me a life insurance policy - Max Life Gain Plus 20 Participating Plan. Agency executive assured that whoever takes on this Policy of premium amount of Rs. 30, 000/- or more will be given a benefit amount of Rs. 95, 746/- in next 40-50 days. But after giving this amount of Rs. 30, 000/- as premium for Policy No.[protected] issued on 23rd Dec 2013 and waiting for 5 months I came to know that both Max Life and IC Direct are frauds and cheaters. Agency person also gave a benefit Id - MAX/1800/4075/DA saying this has been genuinely generated from Max life and will be entertained soon. Now they don’t attend my call. They have eroded my savings which in turn has affected my financial health very badly. MAX LIFE INSURANCE IC DIRECT SALES AGENCY PVT LTD (New Delhi) NAME OF FPR’s CONTACT NUMBER IC DIRECT SALES AGENCY(479505), 1201, Surya Kiran Building, Kasturaba Gandhi Marg, New Delhi: [protected], [protected], [protected] Sachin Verma, Sunil, Ravinder Pandey respectively. Request you to raise a complaint against IC DIRECT SALES AGENCY as well as against MAX LIFE INSURANCE for doing fraud and forgery. Please help me out to take my money back with interest and take proper action against the above company. Thanks & Regards, Himanshu Karki (Cell + 91-[protected])

Hello ! I have been sold four policies from Max Life which are not exactly what I wanted and I does not find the policy’s features and benefits as per my requirement. As the policies are in Free look period I request you to please cancel the same and refund my money. I haven't received the hard copies of the policies yet. Details of the policies are mentioned below: Policy 1 Name of the Policy Holder - Varun Sud Policy Number[protected] Policy 2 Name of the Policy Holder - Varun Sud Policy Number[protected] Policy 3 Name of the Policy Holder - Varun Sud Policy Number[protected] Policy 4 Name of the Policy Holder - Neha Sud Policy Number[protected] Policy No. 4 is on my wife's name but the Cheque (Cheque No. "058643") is given from my account only so I am not sending a separate mail for the same. I'll be very grateful if you reply back as soon as possible. I HAVE SENT THIS MAIL ON 31ST MARCH AND STILL WAITING FOR THE REPLY ON THE SAME... Neha Varun Sud [protected]

Dear Concern, I want to raise complaint against MAX LIFE INSURANCE, Max life insurance having a direct sales agency called ' IC DIRECT SALES AGENCY ' located at new Delhi. I got a call from same agency and offer me Loan on 0% interest in 45days of processing. Then he offer me a MAX LIFE INSURANCE policy and told me that You have received a loan against policy in next 45 days. At that time I am very needy person in terms of rupees because I have been going family problem at the same time. So I took 50k of a policies of MAX LIFE INSURANCE in Jun'13. After 30days the again she call me and said that your loan amount is high so you have to apply a separate application as per rules.. after that to till date I haven't received the loan amount and the FPR also answering my phone and said I’ll give you a money back . I am totally frustrated now. So I take a decision to registered a complaint against the team. I have all the sms regarding the same. Name – Digvijay singh. Contact Number - [protected] MAX LIFE INSURANCE IC DIRECT SALES AGENCY PVT LTD (New Delhi) NAME OF FPR's IC DIRECT SALES AGENCY priya malhotra, neha rajput, jagdish, manish thakur . 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 companies. Regards, digvijay singh. [protected]

This complaint is against Max Life Insurance and Axis Bank which sourced this policy (policy number[protected] Max Life Life Gain Plus® 20 Participating Plan) to me on Feb 2012.Axis Bank is Mis-selling life insurance of Max Life Insurance as an investment proof for giving locker as at the time of taking locker Axis bank told me that I need to invest in this policy and Axis Bank executive told me that this plan is a guaranteed plan and i will get return of 1, 60, 000 after six years and I can surrender this policy after three years with 2 or 3% deduction. But when I contacted Customer care of Max they told me another thing that I can not surrender my policy as there is a locking period of 3 years It’s all right I can deposit my third premium but what’s the use of that as if I will deposit premium for three year than I will get cash value of 12, 000. It's a clear case of fraud by Axis bank by giving wrong information about product features. I have approached nodal officer Manjula Shetty of Axis Bank for this but shameless people are saying that their bank is not faulty. Axis bank is misguiding people with association of MAX life insurance to fraud people. I have contacted Axis Bank Mayur Vihar Ph 3 again and still executive of the Axis bank told me that I will get 1, 60, 000 after six years if I deposit more money as in this plan I need to submit premium for six years that means 1, 20, 000 and I will get 1, 60, 000 on 7th year as they Max insurance will announce bonus after 3 years. No body is clearing real picture for this policy..I have paid two premiums for this policy and I don’t want to block more money in this plan as this plan will not have any good features rather than blocking my money for 20 years and they are giving very less sum assured .I am not understanding why govt is allowing these kind of policies to sell by insurance company when there is no benefit for people from this policy. It’s not a matter of my money only but this is affecting so many people to block their money in such kind of policies.I want my money back from Max as there is nothing like customer care service as they are showing in their advertisement. I have filed FIR against Axis bank but that is not o[censored]se as there is no law in India to protection from fraud policy.

Dear Sir/Mam I recently got max life insurance, the employee was told u can pay every year 1 lakh on 6 yr plan after 7th yr u can take 7.2 lakh they said, but the illustrative detail was showing me on after six yr i will take the money was 3.75 lakh i called max life customer care they also said to me u paid 6 lakh in 6 years but the policy was given after six yrs only 30% of my capital if i want to take the full amount after 20 yrs 18.26 lakh only. Actually i asked child plan to my son after 12 yrs that amount because my son college life will be needful the amount but they given 20 yrs plan, that plan name also the changed (Life gain plan) i said them on Child Plan totally they changed without my knowledge. Already they debited in my account 51, 586 Rs and i m not filled the form they only filled my form signature only i m filled they filled AUTO PAY in my account, and i asked to cancel my policy they are not accepting after 6 months it will be debiting to ur account automatically but i dont need this insurance please help me. They cheating lots of people please save as all. Thanking you Prem Kumar R Policy No :[protected] Client ID : [protected] Date of Proposal :[protected]

Policy No:[protected] Dear Rajesh Sud, You should know your systems and people at call centre how they are exploting and degrading your brand image in the market. To explain my episode in simple two lines: I have done the payment on 31st march 2014 at 9pm through online, Rs.7978 I have received the maxlife payment transaction id:317288. I have done several follow ups over email and phone for my premium renewal policy PDF, i have not received proper support from your backend team. Everytime they say, we have not received the payment sir. Today i.e on 7th April, at 5pm onwards, i spoke to two different females at your call centre, they are so casual, they are not ready to help me, i have asked their name, they have abruptly disconnected the call on my face, inspite of sharing my payment receipt, they are telling only one word, we have not received the payment sir. My latest complaint no: 13213183 Regards, Rajasekhar

Dear Sir/Madam,

This is my policy : Max Amsure Secure Returns Builder ULIP - Level - Simplified which was taken on 11.03.2009 for tenure o[censored]p 2027 on high return basis as per the amsure insurance agent advise, I took this policy and paid premium of Rs.10000/-. annual Policy No[protected]. But It is the matter of regrate that your company has clsoed your SOlan office and noen is here to advice. Even your agent Mr. Raman Sharma has changed his Moblie No. Once I got his no and tried to contact him but his response was not so good.
I had taken an other policy amonting to Rs. 20, 000/- anuualy in 2010 for 20 years Policy No.[protected].
Everybody interest only investment to get returns high but consumer become loss, no one will go for this type of Max Amsure Secure Returns Builder ULIP - Level - Simplified - New insurance policies.

Please suggest me to withdraw the policy and also the procedure to withdraw or handover the policy. My policy number :[protected], and Policy No.[protected]. Lakshmi Datt Sharma, mobile no. [protected]

Hi i m purchases Max policy throw Axis Bank kankarbagh patna .bank executive Miss Nisha says me this policy is good and he say no loking period in this policy . next year for the time of due date of premium i read policy cearfully .

Sir, I took a policy in your insurance with one mr pari t on 17th august 2007 and my policy no is[protected] when your representavive explained me he told this policy is pension plan and i beleived it i was paying till 2008 dec i think pari resigned from your company and no person came there after and after 2 months i received a call and i asked about the policy it was just insurance life partner plus and after maturity u will get the amount .I have paid around 15 months and my money is with you and i literary want money hence i request you to release my money as soon as possible.

Sir, As I am holding multiple policies with your company.one of my policy number is[protected] .For this policy i have not given ECS request.At the time of policy purchase, i have given a cheque.after that for the second year i have made a payment through online using my credit card.For this year, ECS has been activated without my knowledge.To activate ECS, i have to give a request and ECS mandate form should be signed and submitted by me.I have not done anything.How it has been activated.I am just irritating of this.Sorry to say this. Regarding this i was receiving somany sms and mails for ECS pre hit intimation.So i called the customer care and made a complaint.That stupid customer care executive didnt listen my words at all.after irating, she has given the complaint number 13026728. so i have sent a mail to manager to stop my ECS.i have received a default replay.no response from him. My policy due date was[protected].But i have made a payment on[protected].After this, My ECS has been dishonoured due to insufficient balance.45rs has been deducted from my account.after two days i got a call from customer care.The person who told me said that " as per your request ecs has been activated ". he did want to listen my words.i dont know why your customer care executive are all like this. they are not understanding the issue.they are just reading the default replies to the customer.They dont have any knowledge about the products. After all this today i received a mail stating that "ECS bounce intimation" as the following """""""**************************** Dear Mrs. Rajathi K, Greetings from Max Life Insurance Company ! This is to inform you that the ECS transaction for your policy has been dishonored due to the following reason. Policy Number Transaction Date Amount Bank Account Number Bounce Reason [protected] 10-Mar-2014 Rs.9, 860.02 [protected] INSUFFICIENT BALANCE We will be sending the transaction again on . Kindly ensure sufficient balance in your account to facilitate premium payment and to avoid late payment charges. Non-receipt of timely premium may result in lapsation of your policy and you may lose all the benefits of your policy.""""""""""""""*************************************** you just check my payment history for my both my policies.i have not delayed. for my other policy, i am paying through ECS by axis bank.I have requested for ecs cancellation.that has been activated successfully.i have received the mail also for the same.but for this policy, i am keep on sending mails.but no response from your side.Thatsy sending mail to u.i hope you will help me. My complaint should be rectified as soon as possible. If again ECS passed and Rejected means, I will do whatever i can do. I am really fed up with your your company.As an IT Professional, I have refered too many friends to purchase the policy from maxlife.henceforth i will not do that mistake.Because I am suffering a lot. I am at work.You people are wasting my precious time.I have no time to fight with you.But i just want to know, will you rectify my issue or not. I will not cancel my policy.Because i know i will loose money.But i will take it in to the next level.As you are respecful person, i am sending message with patience. What i need is, 1. My payment option should be changed as previous mode.Not ECS 2. I need my 45rs (ECS dishonoured fee) back.You should give 3. I need an apologise letter from your side stating that "ECS has been passed without customer knowledge, wrongly activated" like that Reply me asap. Thanks Rajathi K [protected]@gmail.com

Sir,
I would like to tell you that i am working with MAX LIFE INSURANCE company from last 8 months. My Agent Code is "474538".The resignation has been approved by the branch manager . But the problem is that till now i don't got my "NO OBJECTION CERTIFICATE" from head office of the company. I have talked regarding this issue in branch office of MAX LIFE INSURANCE but they have not provided any support to me. Now i got an opportunity to work with ICICI bank as a Banking Officer so please provide me your support and please approve my NOC. In some days i have to join ICICI bank. Because of this my joining would not be possible. I am kindly requesting you to please approve this. I would like to tell you that I am not changing the company. As the profession is changed. I have to work with a bank. And provide me your reply as soon as possible.

Your's Sincerely,
Ankush Meglani
([protected])