Max Life Insurance Complaints & Reviews

dear sir,



I am very sorry to inform you that I have been cheated by one of your agent named Jagveer. Code No- 292478, Mobile No, [protected], of Shree Ganesh Corporate se gurgoan.I discussed my case with the Manegar
The arthorities told that your case will be setteled with in days and you will get your money back with in 15 days.Sir, I had an impression that Max New Yark is a very good company. Already we had many policy in it.I am sure that you will do the right decision as early as possible to keep in my age and the condition. plz help me Thanking you,
Madan Mohan Nayyar.
C-144,Ashoka Enclave ii
Sec-37,Faridabad( Haryana)
, ph. [protected]
[protected]
:

i have made the request to get my policy money back,,,,,,,,,,,,,,,,,,,,,,,,,,first they commit we return it now they cannot return my money back,,,,,,,,,,,,,,,,,,,,,,,,,,plz contact at [protected]
mail at [protected]@yahoo.com

Ref : Policy No.[protected] issued by “Max New York Life Insurance Co. Ltd.”

Sub : Refund of Premium Money due to Miss Selling of Policy issued by “Max New York Life Insurance Co. Ltd.”

I have intimated to Max New York Life Insurance Co. Ltd. twice Vide enclosed copy of letter dated 06-08-10 & 02-09-10 but they are not in a mude to solve the problem.

Therefore, I am very sorry to inform you that Signature on the application form (marked 21 of 48) where Policy details like Premium Paying Term, Premium payment detail etc. is mentioned was not mine, (Xerox copy of application form is enclosed herewith for your ready reference), as a result

1) Total Premium payable was 1978000 instead of my desired/understood 296700.
2) Premium payable for 20 years instead of my desired/understood term 3 years.
3) Policy is Traditional plan instead o[censored]LIP.
4) Premium payment mode was annual instead of Semi annual.

Therefore, Due to so long 20 years term and Rs. 1978000 total payment of the policy, I am unable to run the policy and Hence I request you instruct them to refund the premium at an early date.
Dr. Bijendra Nath Rai
50/2, Maulana Abul Kalam Ajad Road
Howrah – 711 101 (WB)
Email ID : [protected]@gmail.com
Phone No. [protected]

Hi I took the policy & later due some urgency i had to cancel the Policy. I did the same. 4 months no communications as well no cheque received. I tried reaching them they are saying your policy cancellation periode was over before 4 days. Its worst, they didn't accept the docs in time & now they are saying that you were late.

The Regional Provident Fund Commissioner,
P.F. Office, Nagpur/Pune/Mumbai

Respected Sir,

Myself Kanchan Kelkar was working with Max New York Life Insurance Co. location Yavatmal. My employee code is YAV0105. The said company has deducted my P.F. contribution regularly. In Feb 2010 I resigned the above company and demanded my P.F. Till today company is simply raising queries and not refunding my money. Regarding this I have communicated so many times even weekly I am taking review of the said. But regret to note that HR is not giving satisfactory reply and not giving my P.F. amount. I have also asked them Is there P.F. Regulation in our contry ? But unfortunately the persons are ademant and not giving reply. Please do needful and give my P.F. withdrawal

Yours faithfully,

Kanchan Anil Kelkar
P.F.No.40251

pls send current pay ment with including interest details upto till date. my policy no;[protected]
thanks
k.krishnakumar

sir my policy number is[protected] rejected by max new york before 1month.i pay 25000rs .if my policy is rejected then why my cheqe is no reached at my home. i live in gidderbaha my addresss is Kewal Krishan, Comission Agent, Near Usha Nursing Home, Giddarbaha, Punjab - 152101.pls deliver my cheqe to my address.
kewal karishan
[protected]

myself amit srivastava from bahraich . i have a max newyork life insurance yearly installment Rs.[protected] .. but no agent come for taken money...........mobile no. [protected]

Dear Sir

I , Naveen Kumar Patle, have taken policy from Max Newyork Life insurance(details given below) from dated 27.6.2010 . The Agent Advisor has taken cheque of Rs 2500/- (no 979969 dated 18.6.2010 Uco Bank) and advised me to pay monthly premium from the monthly deduction mode facility from the bank through direct debit (ECS facility) . This provision was filled up in the application form and the same was informed by the advisor. But the negligence of the advisor, this facility has not worked and debit was not done by the bank. After 6 months, the advisor has informed me since you are not paying the regular premiums, your policy may be lapsed and now you have to pay all the balance premiums.
I would like to bring your kind notice that due to negligence of advisor , I have lost Rs 2500/- and could not continue this policy . I request you that proper action should be taken from your side otherwise .
Policy Details: Max Newyork Life - Smart Invest Pension Super
(Regular Plan)
Policy no : [protected]
Date of birth : 12.08.1971
Initial amount paid through cheque : Rs 2500/-
( cheque no 979969 dt 18.6.2010)
Agent code : 318181

Thanking you,

Regards
Naveen Kumar Patle

Dear All,

My Name is Varadaraj and am from bangalore. I have a policy with max new york which was taken in Nov 2007 and the policy number is[protected] .The complaint on them is I had payed 3 years premium of 72000 i.e 24,000 per annum for 3 years. When i got to know that the lock in period is 3 years i went to the malleshwaram branch and asked about my fund value and they told me that it is 78000 but when i asked them to surrender for the same amount they told me that 25% 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 56000... Then i thought why to lose 14,000 and went to indiranagar branch and asked for some assistance on this. One of the person in the reception suggested me that as u have payed 24000 premium for 3 years u will have to bare surrender charges of 25% and he told me i[censored] make the 4th year payment u will have not have any surrender charge on ur policy. On his suggestion and after prior confirmation in malleshwaram, indiranagar and mg road branches i finally managed to pay the 4th year premium as well. So the amount which i have payed now is 96,000 For 4 years and according to them and the policy regulations there should be no surrender charge. On Dec 2nd i just called the jp nagar branch and asked them what is my surrender value, so they said i[censored] surrender ur policy today i.e on 2nd dec ur surrender value would be 1lakh and 3 thousand rupees. So i went the same day to MG road branch in the afternoon and even before surrendering the policy i repeatedly asked the officials whether i will receive the full amount of 1lakh, 3 thousand without any bull surrender charges. They told me there will no surrender charges and the complete amount will be paid to ur bank account within 12-to 15 working days and finally the policy was surrendered they gave me an acknowledgment. But when i went a couple of days back to mg road one gentllemen told me that ur process is almost over and u should receive ur amount within 3 to 4 days. And today i.e 22/12/2010 when i called the same mg road branch i was shocked to know that my surrender value now is 77,000. I again went to the same office in the evening and when i seriously enquired about this they told me that By mistake their system in mumbai or delhi has taken the surrender charge even after the 4th year payment. Upon seeing my anger and frustration they called up the mumbai or delhi office they told him to check regarding my case and they have assured me that they would resolve this confusion within 24 hours i.e they have time till tomorrow eve 23/12/2010 [5pm]. I am very curious to know what answer they give me tomorrow. And a lady in the reception assured me that by monday i.e by 27/12/2010 1lakh and 3000 will be there in my bank account. My dear people pls don get cheated but these world class frauds and they cheat innocent people who do not even know "abcd of insurance. I will get back to u tomorrow with status of my complaint and i hope they resolve this or else please join me in screwing this company and i will go to the consumer court and fight the case.
Any policy holder with same complaint can call me on [protected].

Hi,

I have been using Maxnewyork life insurance from 5 yrs and till date have been going thorugh the torture and pathetic customer service offered by this company every year they promise something and deliver nothing in order to pay ur own premium we have to reming them and after paying face the horrifying experience of clarifying that the premium is paid.

The customer care team is run by uncivilized, uneducated people who don't know the meaning of customer service each and everyone speaks a different language and the basic etiquette's are zero to get your work done atleast yu will have to send 10 mails to the customer care then follow up urself as no one will bother to call you the follow up with manager who for name sake is a manager he feels talking to his customer is below is dignity.

I have been suffering on and off every year i was investing 25120 every year with then have to forcibly cancel the Unit link policy as in 5 yrs for 125000 fetched me only 2000 benfit even a post office will offer better returns than these guys.

The second plan was told by thier so called business development manager to cancel as it won't fetch any returns can't understand in first place why do u ask the customer to invest by promising tons of benefits lost 11,000 and the best part is there's no refund so money goes to their pockets customer care willl not listen to you will just say sorry no refund and close the conversation

The third policy is endowement policy which gives u some bonus but to get the bonus it has taken me 15 calls and 5 mails and all i listen to is we will get back to you in 2 days but they will never tell which year and after 3 weeks haven't still heard of them so basically they will eat your money any time they want but when it comes to giving they willl ignore you completely

Neither these people are professional neither they have the basic courtesy to attend to customers have recommeneded all my colleagues ACROSS INDIA to NEVER SELECT MAX NEW YORK LIFE INSURANCE.


Regards

Aiyappa
[protected]

Hello,

I tried to pay Max New York Life policy premium through SBI Netbanking. Money got debited from my SBI bank account. However, the money was not credited for Max New York Life premium. Below is the transaction information copied from SBI account:-

Date (Value Date) Narration Ref. No. Debit Credit
14-Dec[protected]Dec-2010) TO TRANSFER
INB Max New York Life Insuran New York Life Insur MSBI[protected]IG35769357 TRANSFER TO [protected] BILLDESK TRANSACTION A 6,074.28

Please resolve this issue as soon as possible.

My contact number:[protected]

~ Ashish Mehta

I was forged by the max new york life insurance as i took the ULIP policy No.[protected] of 50000/- premium of one year only, but the Sales manager of MNYL took privilege to came at my house and to ensure the policy as a one time payment, but instead of that he mark the three year premium scheme. when the premium letter came to my home for the next year , i went into a state of shock and i called that sale manager , he called of his mistake and promise me that after the second installment i can get my money back, but he lied as today the third letter came, i called him and he lied about the above mentioned pledge. His name is Mr. Ajay Chandel . As a normal working man i could not able to make such payment. Max new york has left nothing for me now, Now i can only do suicide and its only b'coz of Max new york life insurance. Please help me. please i have got nothing to spare now. Max new york has taken every paisa from me.

policy no.[protected] Misuse of money
To,
MAX NEWYORK LIFE INSURANCE CO.LTD.
12th Flour,DLF Square,Jacaranda Marg,DLF Phase II
Gurgaon 122002
Sub:Misuse of money
Sir,
I kindly inform you that my Policy no. is[protected] .I have a life insurance policy.& I have paid for it aprox amount 60,000/-.But in the current Policy Account Statement the unit Fund value is aprox 40000/-shown.please check who is responsible for it othere wise i complain for it to IRDA.Where is my intrest of this money?
From:-
Mr.Bal Mukand Joshi
Qtr.no. 2
Krishi Upaj mandi parisar
Bhilwara Raj. 311001

RAVI PAL SINGH (MORADABAD)
I deposit Rs.30000 on date 29 Aug 2101 Order no ut06/10/003016 , In relation to proposal for life insurance against.
Proposal no:[protected], code 241033id(Max New York Life Magic Builder)
My policy document are not received yet. Pease tell us.

Hello,

I took a Life insurance policy ( Policy no:[protected] in December 2006 from Max Newyork Life Insurance and this complaint is regarding its surrender. This is a horrible situation of a investor (self) whose money is duped by big brands like “Max Newyork Life insurance” (MNYL) in name of Insurance.

In May 2010 I wanted to withdraw the policy as I had personal need for money.

Ø On May 20th 2010 I had walked in Bangalore MG road branch for the surrender of my policy and they accepted my surrender of policy and gave me a signed and sealed acknowledged copy of the acceptance, and told me that the cheque will be sent to my residential address within 3 weeks.
Ø On May 27th 2010 I received a notification from MNYL that my surrender is in progress.
Ø As per the surrender I should have received the money back by June 2010 but in Vain and no response from MNYL. The Irony in this situation if we were to buy a policy by this we would receive a million calls following up on the situation, but it’s time to payback and its the other way around that I kept calling them to hear a reason everyday for not receiving my cheque.
Ø In Aug 2010 when I finally was not getting a concrete answer I had to speak to the MNYL executive Roopa who then escalated to the case to her manager Mala MN, who I think has no better authority than Roopa. She told me that my policy is in lapse and that is why they could not process, so when I asked her why was this not informed to me at the point of surrender, she had no answer. She asked for 24 hrs time to help me in this situation and never called me till 48 hrs and I called her asking her what happened, she said that her HO people were busy and she asked for another 24hrs time to get details for me.
Ø The next day she called and informed that If pay Rs 5000/- more towards the policy, that will help me surrender the policy by reviving it. She told me that she has got this confirmation from the Head office, from Nitin Grover, an MNYL employee.
Ø On Aug 30th 2010, I paid Rs. 5000 and they again took my surrender request again and told me that by Sept 13th I should get my cheque.
Ø Again it’s time to payback so no response or calls from MNYL and I kept following up with Ms. Mala on the status and she would tell the same thing to me, don’t worry it’s in process you will receive the cheque soon.
Ø Now they are saying that as the policy is lapsed, I won’t pay my money back. Mala says that she got the approval from HO before communication to pay Rs.5000 but the HO (Nitin Grover) denies or refuses the same. As an organisation they are most unprofessional people. As 3 people together has played my emotions and sentiments (Roopa, Mala and Nitin) and I am sure the organisation is the same.
Ø Nitin Grover does not respond to our calls anymore now and mentions that he is no way related to this case, and he never gave any communication to Mala M N asking me to pay 5000 to revive the policy.
Ø I am still fighting for the money and MNYL have refused to pay my Rs 50000/- . Anytime asked about the money, they have just bought time and they eaten 5 months and not paid my money back.

My question now is:

1. How do I get my money back at the earliest?
2. If there was an issue with paying me back the money, why was it not communicated 5 months back and was asked to pay 5000/- to revive the policy, because I have lost 5 months of time and still dont have my own money given to me. MNYL has used my money for last 5 months, and wasted my time, energy, and efforts and caused me severe mental trauma. I need adequate compensation for all these.

If I dont get my money back, I am going to knock on every legal, media, and social networking avenues to ensure that people are aware of the fraud handlings of Max New York Life.

Please treat this on an urgent basis and help me get my money back. Also, please let me know the Complaint Number for this case.

Warm Regards,
Priya S

Hi,

This is USHA GUPTA, customer for MAX NEW YORK LIFE INSURANCE

We made three policies with Max new york initially.
The first policy that i made was for Rs 1,00,000,
I was told i need to pay premium only once but when we need receive the bond it was stated that i need to pay 1 lac thrice.
Secondly for my other policy my premium was due, we got a call from Mr,Rakeash Sharma and Vikas Malhotra , Contact no:[protected],[protected]stating that they will adjust the policy in a manner so that our previous policies premium will be given as bonus and they will adjust all the three policies together.
They send a person at my home, who collected checque for Rs 50,000, and today when i went to bank for Max in Karnal office i was told that therir is no entry for my cheque NO:394955
I then called up Rakesh sharma and Vikas Malhotra ad they said they have created a new policy and will send the bond in 2 days.
Now if they created a new policy , then i need to pay premium for my new policy and old policy and from here i will get the money, i was told my paying checque for 50,000 my all policies will be cleared but now i am in a situation to pay more money to max for old and new policy.
Please let us know do we have a money tree to pay you the money and what kind of cusomer sevice is this?
I need all the money back which i have payed to your bank and want to end relation with your bank.
We ave heard bank are there to provide custmer services properly to their user but here bank is taking money by making fraud polices o[censored]sers and giving users a lot of trouble.
Please take a action as soon as possible and do not employ person who make fool of their clients, other wise will go to consumer court.

dear sir
my name is shashi kiran. my policy no.[protected]. i have a policy with maxnew york from the last 4.5 years. i have surrender my policy on 28th august.but they r not delievering my cheque. pls do favour to me

Dear Sir,

Max New York Life Insurance have witheld an amount of Rs 15162-/ from my total due amt of Rs 60645-/ and remitted the balance amount of Rs 45483-/ .

1.The amount promised at the time of submission of the policy was 60645 it is duly supported by the document issued by Max New York Life Insurance.
2.The policy has been duly submitted after the lock in period of 3 yrs on the promise of return Rs 60645 .
3.Seeking immediate reversal of the miscalculated charges imposed on the above mentioned policy asap.

Regards
Sanjai Sharma
[protected]
F301 Goodwill Garden CHS
Sector 8,PL 15/16
Kharghar
410210
Navi Mumbai

I have Max Newyork Life insurence Mutual Fund and i applied for the surrender of my policy. They initially told that it will take around 15 to 20 working days to return my amount. But since one and half months i didnt got my amount. I tried to contact several personnel in that back and none of them gave me response properly. The service is too bad and i dont know what i can do. I ask to give the person number who handle these disposal of the amount. But they are telling it is against the rule to give their numbers. At this situation whom i need to contact to get my money back. I have several debts to repay with this amount. But they are not caring to return back my amount.


Max Newyork Life Policy Number :[protected]