Max Life Insurance Complaints & Reviews

I had requested for the cancellation of my policy but its almost 2 years i haven't got any refund for after interacting with several branches in bangalore they guided me to visit head office at M.G.Road, even the people over there had taken 15 days time and still they say that they are processing it or some of their higher official haven't reverted on it.

Now i don't have the policy in hand nor the refund amount, i only have the acknowledgement given by some official at JPnagar branch.I am Helpless

This is Prakash holding a few life insurance policies with the above organization, This is to bring to your notice that I have been cheated on a life insurance policy by the MNYL sales representative (Ms. Juli - Sales Manager – Chennai Annanagar Branch) without properly explaining the complete details of the policy and I have been totally harassed and ridiculed with the kind of response that I have got from the staff till date.

Miss Sell – Brief: (Chronological Order)

I was approached by the above mentioned sales person for taking a life policy

I had requested for ULIP policy and apparently agreed for a ULIP policy and another policy

To my surprise there was complete manipulation including signature by the sales executive and eventually i got a totally different policy which was not even briefed about and which had unacceptable terms in it.

This was very much ascertained and confirmed when I got a confirmation call in which I very clearly mentioned that I am not interested and apparently asked them to cancel the same , for which I saw absolutely no action.

After all the oral conversation and disconnects where in I have not even collected the policy , I raised on complaint via letter (scan attached) on the 1st November with complaint # 1351180 and the same was attended by a person called rachana yadhav who seems to be form the retention team

There was absolutely no response on the complaint raised what so ever to all dismay and agony

Post which I called MNYL office several times and was promised a call back time and again for which I again had no response at all.

Request your kind intervention to get this issue resolved and get my money refunded, there seems to absolutely no response from this organization there fore I am seeking your help in this regard.

Thanks & Regards,

R. Prakash

[protected]

company is using abuseive language mail

i have applied for mediclame insurance which was rejected i have payed the amount of Rs3200
which was not refunded to me kindly refund my amount
Mrs.Mamta Rani
28/157 Weat Patel Nagar
New Delhi - 1100008
Ref #[protected]
Ph - [protected], [protected]

CC: Agent Code : 222333 GO : ADEL5
Agent Name : Shalu Gaba

I am a senior citizen of 67 yrs. & a retired lady. I have been cheated by New York life insurance, due to this I am in a state of shock & mentally disturbed.

I was approached by new York life insurance through their agent Mr. Bhanudutt lala & manager Mr. Mehul dave for their “SMART STEPS PLUS” policy for my grandson aged 7 years.

They convinced me that this policy is the best policy known as “THE BEST GIFT A PERSON CAN GIVE TO THEIR GRAND CHILDRENS” & it’s possible at an age of 67 years & hence I agreed & paid them a premium of 20000/- with tenure of 20 years through 2 cheques, first cheque of Rs.5000/- bearing no. 655756 DT. 28.02.09 o[censored]nion bank shahad branch from my account no.32431 & another cheque Of Rs.15000/- bearing no 040484 from my HDFC BANK Ulhasnagar branch account no[protected] for policy in my name (for which I provided my pan card & ration card) with nominee as my grandson (for which I provided his birth certificate) & my grandson being a minor my son was supposed to be his guardian (for which I provided his passport).

After paying premium & confirming that both cheques have passed through my banks I asked them for my payment receipt as I had to claim 80cc benefit & for my policy but I only received excuses from them in return.

After several verbal request which were not been entertained by them, I complained on their helpdesk at service.[protected]@newyorklife.com on 26th June 2009 & asked for my policy which I received on 10th July 2009.

To my surprise the policy no.[protected] which I received was totally manipulated. The details are hereunder:-

THE SIGN MADE ON APPLICATION FORMS IN THE NAME OF INDRAJIT SINGH ARE NOT OF MY SON INDERJEET SINGH AS HE HAD NEVER SIGNED ANY DOCUMENT

1) The payment made & policy promised by your manager Mr.Mehul Dave. & agent Mr. Lala was in my name I.e. SATWANT KAUR OCHANI not INDRAJIT SINGH OCHANI as mentioned in you policy.

2) Nominee was my daughter-in-law Mrs. SUKHBEER KAUR OCHAN in place of my grandson Mr. SUHEET SINGH OCHANI as promised. Being a child plan how can my daughter-in-law aged 33 years be nominee in place of my grand son SUCHEET SINGH OCHANI aged 7 years? His name doesn’t’ appear anywhere in policy. How can a wife or daughter-in law be nominee in a child plan?

3) Payment mode is quarterly of Rs.5000/- instead of yearly for Rs.20000/- .

4) I was never told about surrender charges or other charges like premium allocation charges, fund management charges, e.t.c in fact I was told that I can surrender it after 3 years which is locking period without any charges.

THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

I highlighted this through my e-mail to them on 13th July 2009 & since then they have being pressuring me to give an application for cancellation of this policy & apply for a new one.

On 2nd August 2009 there representatives namely Mr.Jagdish Golani, Mr. Kumar Vishal & Mr. Rajesh Trivedi visited my premises & I showed them the following under mentioned details & was promised by them that they will resolve the matter with 4 to 5 days. I have a copy of minutes of meeting with them.



1) In their proposal form the nature of proof mentioned is passport whereas the name mentioned in passport is INDERJEET SINGH OCHANI not INDRAJIT SINGH OCHANI.

2) My son has problem of high blood pressure & dibates & his blood test are regular due to this since last 6 years this is not mentioned in proposal form.

3) My son has a pan card bearing no. AAIPO0686J since last 5 years whereas they have mentioned applied for in proposal form & income shown is Rs.200000/-. Is it possible a person having income of Rs.200000/- & without pan card.

4) He had gone to dubai 2 years ago & last year has been to Bangkok & is fond of adventure sports like scuba diving , para glinding , e.t.c this also is not mentioned in proposal form

5) Nominee mentioned is SUKHBEER KAUR OCHANI according to your proposal form & as per your form it is necessary to attach a valid proof of DOB. Where is the valid proof of DOB? Even here date of birth is not mentioned. Actually the nominee supposed to be was my grandson SUCHEET SINGH OCHANI & his guardian my son INDERJEET SINGH OCHANI hence I had provided them with BIRTH CERTIFICATE of my grandson along with PASSPORT copy of my son.

6) We have number of policy of L.I.C. in the name of son, daughter-in-law, & grand children’s where as you they have mentioned INSURANCE COVER TAKEN ON FAMILY AS NIL.

7) And interestingly who is the witness of this policy your AGENT Mr. LALA HIMSELF.

8) THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

Actually he himself has filled the proposal form & hence he was not aware of these details & hence they are not mentioned in proposal form.

On 10th August 2009, I received a mail from their representative Mrs. Ritu Yadav & she told that this policy is for 21-50 years old & hence I am not eligible for this plan hence I should cancel it & though my son is a diabetic person they asked to give a fresh proposal form in this regard & promised to issue a policy to him.

I refused the same via my e-mail on 2nd Sep 2009 & thereafter I received a call on my cell no [protected] from tel. no. [protected] on 2nd Sep 2009 from Mrs. Ritu Yadav at 17.29 p.m & was told the same thing. I asked here if the policy was not for me why they took money from me & I have already claimed the 80cc benefit for this policy with income tax for my income tax return of 2008-09.

I am having financial loss too the nav of this plan on growth balance fund was Rs.19=05 on the day I paid cheque & today its Rs.27=43. The value of per unit has been appreciated by Rs.8=38 as I am a retired person & pension & interest is the only source of my income & moreover the physical & mental trauma I have went through since last 9 months.

I simply I asked her to either issue me policy as was promised to me or I seek a compensation of Rs.10, 00, 000/- or I will approach consumer court, insurance ombudsman & IrDA in this regard.

I was told to approach wherever I want to & neither they will issue me policy nor compensate me. Hence I request your honor to look into this matter & help a senior citizen to get justice.


SATWANT KAUR OCHANI
[protected] / [protected]

Sent: Thursday, November 26, 2009 1:13 AM
To: 'rajesh.[protected]@maxnewyorklife.com'; 'rajit.[protected]@maxnewyorklife.com'; 'john.[protected]@maxnewyorklife.com'
Cc: 'service.[protected]@maxnewyorklife.com'; 'Charulata.[protected]@maxnewyorklife.com'; 'abhinav.[protected]@maxnewyorklife.com'
Subject: FW: Ticket #1421361
Importance: High

Dear Rajesh, Rajit & John,

I hope that you people have time to read this mail, but this will highlight what your company is lacking and why it will go down....

I am one of the old policy holder[protected] of the company and faced problem in getting my work done for the first time in 9 years, my policy is from year 2001. This is quiet upsetting and bitter feeling.

Incident 1 :
I submitted change in nomination for my wife, health Declaration and change in personal details (email, address, mobile & telephone) in Rajkot office at the same time. Also I have submitted a form for change in agent.

I am not too sure what did the Rajkot office did for this requests. Request you to investigate and revert.

Also device a process to give acknowledgement to customer, as when I asked for an acknowledgement they said the system is not working. Atleast teach them to give a photocopy of the acknowledgement. What is the fault of the customer in this.

Incident 2 :

I went to Borivali office on 5th of November 2009 for giving an application for change in my personal details at 2.30 PM and the watchman at the gate said, come tomorrow as everyone is in the training. We can not do anything right now.

How will you react in this situation? I got really surprise, how can someone just say like this without even asking for what reason I (as a customer) have come there.

I really got wild shouted at him and asked him to call whoever is there in the office. After some time one agent came and he collected the application by going out of his way to serve an unknown customer.

I think the branch Manager who can not manage his branch needs to be sacked. How can he leave a branch attended by a watchman on a normal working day? How can he send all the branch personnel on training at the same time and put the branch at the mercy of god.

Above this, the application did not get processed until I raised a complaint for processing the request. I am not sure how the entire operation is working.

Incident 3 :

Now I have received a communication on 23rd of November, 2009 saying we are returning the OPPB amount via cheque, saying Health Declaration has not been submitted. To tell you in detail, if you look at the record and see the location, the OPPB was paid in Rajkot, where the cashier ( teller) asked me have I submitted the declaration ? and on my confirmation ( yes) he accepted the payment. At the same time he confirmed with the receptionist who also confirmed to him of health declaration being submitted. The health declaration was submitted by me 1 day in advance.

Above all health declaration submission is confirmed by Charulata from your customer service unit on 13th November 2009 by mail and the same is attached for your reference.

I will appreciate that you will take some positive action for the 3rd incident and will not return the OPPB money. If you can not do this, inform me again so that I can take necessary action with IRDA Ombudsman and take action against your company for the harassment to customer.

I am really happy that I have not invested more in new policy of Max New York Life and taken policy of other insurance company. All the above three incident proves my point that how unprofessional a company can become. I will recommend people whom I know not to take the policy. If this company can harass a policy holder (me) like this, what will happen to beneficiary in my absence?

Regards

Mehul Mehta


-----Original Message-----
From: Mehul Mehta [mailto:mehul.[protected]@hotmail.com]
Sent: Tuesday, November 24, 2009 8:29 PM
To: 'service.[protected]@maxnewyorklife.com'
Subject: RE: Ticket #1421361
Importance: High


Hi !!

Thanks a lot for the confirmation. But I am really surprised that you always send me confirmation but no action has been taken place.

I have attached previous correspondence from your end on different subject. Now for me to track which ticket number is for which request is really tedious. I am attaching here with the previous ticket number sent from your end. Try to analyse individually why the ticket number have been issued and after how many days of receiving the request from me via email/other correspondence.

If there is some TAT followed at your end, its yours... I am not concerned. But acknowledgement has to be instant, you can not sleep over it for 7/8 days.

I guess you need to inform your manager, As a customer I need following

1) When you communicate with the customer atleast let the customer know why you are communicating, i.e. why the ticket number has been issued.

2) When you resolve the query, send the ticket number so that we can relate to it and check in the previous communication what is if for.

I hope you will improve your customer service after reading this... otherwise new recommendation/customers will be hard to find.

For me I am sure I will not deal with a lethargic company, as your Rajkot office took 8/9 days to change my address and mobile number, and mind you I have to give a request in Mumbai office again. Still my Nominee details and service agent request is lying with someone in your office. I don’t know what they are getting by just sleeping over it.

Regards

Mehul Mehta



-----Original Message-----
From: service.[protected]@maxnewyorklife.com [mailto:service.[protected]@maxnewyorklife.com]
Sent: Tuesday, November 24, 2009 10:19 AM
To: MEHUL.[protected]@HOTMAIL.COM
Subject: Ticket #1421361

Dear MR.MEHUL GAJENDRA MEHTA,

Thank you for writing to Customer Services at Max New York Life Insurance. We acknowledge receipt of your request and have registered the same under reference number 1421361We fully appreciate that you would like this matter resolved as soon as possible. In view of this, we have put rigorous service standards in place for handling your request fairly and speedily. Please allow us time till 11/25/2009 1:00:00 AM to investigate the matter conclusively by when a final response would be shared with you.Should you require any further assistance, please feel free to contact our Helpline numbers (Toll free[protected]BSNL or MTNL) or[protected]All Service Providers). Our Helpline operates from Monday- Saturday, 7.30 a.m. to 11 p.m. You may also visit our website www.maxnewyorklife.com for more informationFurther, I am personally committed towards providing you with the best in class customer service experience. For us to serve you better and faster please do not change the subject of this e-mail while writing back to us. Yours sincerely Ruhidas SarkarExecutive
Max New York Life Insurance Co.LtdOperations Center, Plot 90 AGurgaon-122002
...................................................................................⇄
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With deep regret I am forced to write this mail. I had taken the captioned policy in April 2006 in my name. I was told that this policy is a whole life policy and I need to pay Rs 5000/- every six months. After 3 years, I will start getting bonus amount which would be approx. Rs 3000/- per annum. Also, If I stop paying premium after 5 years, the premium will be paid from my accumulated fund value but I will be insured for whole life till the time there are funds available in my policy.

Today, when I received my premium receipt for 4th year, I realised that there is no bonus accumulated and hence I called up the call centre. They informed me that there is no fund value as it is not a ULIP plan and all my bonus has been reinvested !!! Also, they said that I will have to keep paying premium of Rs 10000/- per annum till I reach the age of 100 and if I withdraw the policy in today's date, I wont get anything more than Rs 10000/- where as I have invested Rs 40000/-…

This is a case of wrong selling and wrong commitment. Why would I invest till I am 100 years old which I am sure I would never be?? I had reiterated to the insurance agent that I want this as an investment on which I would want a fixed income of Rs 3000/- a year.

Request you to look into the matter and help me get my amount back. I don’t want to claim any interest or mental harassment charges. I just want my principal amount and bonus accumulated.

A agent name Deepa From Max Life Insurance Vaishali Branch came to my home with her calleagues name Neena Sharma Who is Sales Manager In Max Insurance and convassed me for taking policies from their company.With my husband permission I take two Policies. They told me that you will get your policy bond with in fifteen days. After fifteen days I got my both policy bond . My smart steps plus policy bond was correct but there was some mistake in my pension policy bond.there was mistake in my date of birth and personnal details.I inform Neena Sharma about this.She told me that send it to office and I will change your date of birth and give you another new bond. I requested him 4 to 6 times for my bond .Now neither she call me nor responding my calls. This is ridicullous that company like Max recruiting such careless person which mottos is not the public benefit but to pocket our money as commission. Please do the needful as soon as possible and take action againts Neena Sharma. I have no idea about my pension policy number because I have submitted it before one and half month . My another policy number is[protected]and policy holder is Anil Dhyani.

I have taken insurance from Max Newyork life insurance. The plan was cover at 60. I have paid two of the annual premium without any hesitation. At third year they are charging 10.2% Service Tax in additional. That was not a part of the contract. In telephonic conversation they told that this is a government tax and we cannot accommodate it. This is a new type of scam. These Insurance companies bribe in billions to get license and to make constitutional amendments. As I think once the commitment have made should not be changed. And after one violation of commitment any of the company cannot be considered faithful. I request to the entire prospective consumer then pls. don't go to any of such insurance agencies that have foreign tie up.

Thanks

My Policy no is[protected] and I had placed a request for surrender in the month of September on 12th day. After that there is no response from any of the customer care or Andheri office for my followup. And I have surrendered my policy for investing it in Smart Express policy.

I have made payment through credit card and already the due date for that particular payment is crossed and I still don’t have any information regarding...

My policy no.[protected]

I have not recived even a single detailed statement of accounts from your side. I joined you in 2007 that is 14 oct. 2007. And according to the policy document provided by you, the effective date of coverage is 30 oct. 2007. You are requested to send all the details as soon as possible.


Ashok Sharma.

Good Morning,

I have a life insurance Policy with Max New York Life Insurance Company. The poolicy is in Monthly mode (5000/- Per Month). This policy of mine will be maturted in Sept 2010. But now regularly i am getting the mails from Max office saying that i have not paid premium for the three months. I replied saying to give me all the details as i have paid the premium. They replied to lapse the policy and when i told them that i will file a case in the consumer court then they stopped replying.
My policy details are as under:-

Policy No. : [protected]
Policy Holder : Sunil Wig

HI ,

I HAD TAKEN POLICY NUMBER[protected]
FROM AGENT NITIN RATHODE IN PUNE.
THE AGENT EXPLAINED THE POLICY SAYING THAT IT GIVES FIXED 20% RETURNS , ALSO HER MANAGER SAID THE SAME.
SINCE I AM HOUSE WIFE , I TRUSTED THEM .
THEM I GOT THE POLICY VERIFIED AND PEOPL SAID IT WAS ULIP NOT FIXED RETURN.
I COURIERED THE LETTER OF CANCELLATION VIA BLUE DART WITHIN 4 DAYS TO THE COMPANY FOR REFUND OF PREMIUM.
THE AGENT CAME BACK AFTER 15 DAYS SAYING HE NEEDS MY SIGN FOR CANCELLATION .
AFTER 6 MONTH WHEN I ENQUIRED THEY SAID INITIALLY I CANCELLED THE POLICY BUT LATTER I HAD ACCEPTED IT .
AGENT NITIN RATHODE AND HIS MANAGER ARE CHEAT .

THEY HAVE LOOTED US.

Dear Sir,
I have taken a policy no[protected] on my name as on 22 Oct, 2007. By bad luck i was admited to the hospital with pain in stomatch. Where I knew that it was the pancreatic problams which was mention in the policy. I got operated and 21 stitches made on my stomatch. The expences of approx 300000/- refused from the MNYL as it was the frist operate and with in 180 days. you can not get claim as per the condition. I think ok.

But on 25 March I again admited to the hospital due to pain in the same condition. I again operated. I made a complaint to the company as it is the seciond operate & after six month as per company policy. but till date i have not the claim benifit. Where I have deposited 40000/- to the company.
Pls do the needful as the people should not be suffered by the companies terms and condition not aplicable.

I have been witnessed for mis-selling of policy by max new york life insurance. I had been committed that if I take their policy, I will be given overdraft account from standard charted bank as they have tie up with this bank. They said the same every time when called me.
After taking the policy, every time, they started to give different reasons. They said that they are waiting for the copy of policy document at their side as well....

i m having a policy[protected] with max newyork and last year i forgot to pay the premium so i paid it after 6 months of due date so i was suppose to fill up the health decleration form which i filled on 30th april 2009 and i have paid the premium of rs 20000 with h d form. Now till date they have not allocated my fund and they are stating the reason that we have not received your h d form so your policy is lapsed... how can they accept my...

sir

i am neeraj kumar, i have taken a policy no[protected] from max new york life . Due to some problems, i have given request to cancell my policy no[protected] on 13th may 2009. but they do not give me any type of help and response. I have given cancellation request 3 times but they always told me that ur policy is under process. I have completed all formalities . pls do needful for me and refund my amount from them.

Neeraj Kumar
[protected]
51/10 gali no 13 nai basti anand parbat
new delhi -110005

This is in reference to my policy no.[protected], Plan : 25 Year Level Term Plan.


I have paid premium Rs 5655 due this year as per Policy document issued to me. Now I am being asked to pay more premium Rs 582.47 and reason given is that addition is nothing but a govt levy introduced this year.



Now the fact remains that govt has surely imposed a levy on the premium but as a professional company you have overlooked following points :



1) Most insurance companies have not demanded such a increase from their existing policy holders ... so far.



2) In case Max has taken a decision to go ahead and demand that levy from policy holders, they have failed to intimate their policy holders about the change in time. I came to know about it when your collection person visited me for picking cheque.

3) So there was no written or verbal communication to policy holders on this issue ... I treat it as taking customers for granted.

4) Now that I have paid short, I still await communication from compnay in balck and white about the rest of premium to be paid. They are aware that they need not pay any insurance sum on the pretext that I have not paid full premium. So they are simply gutting my money without offering me any insurance.

4) Policy document is a legal document between MAX and myself. And we both need to abide by the legal as well as the commercial terms written and agreed between MAX and myself. Legally speaking Max is not entitled to ask for additional premium without revising Policy document. I am sorry to add that company has failed to comply with the spirit of Policy document by not revising it till date. In case there was administrative delay in revising policies on your part, a letter would have served that purpose till policy revision. Sorry to add that company management thinks otherwise and didn't bother to send a letter to me in this regard, leave alone sending revised policy document.

5) Now million dollar question here is : In case I die this year, will Max pay my nominee the insurance sum as per terms or will it give an excuse of failure on my part of not paying full(?) premium ???

6) If I have paid partial premium ... as per Max, why is company not intimating me in black & white that I need to pay rest premium. Is Max sleeping since I paid my last premium in June, 2009?? Now what is the status of my policy... I have no clue.


7) Owing to all these developments, I have lost my faith in the company management. And fearing that company flouts legal document at its will, I am not interested to continue my policy with Max anymore.


I request all readers to be careful while dealing with these types of companies.

RESP SIR
I HAVE SENT MY ALL PF DOCUMENTS TO OFFICE OF MAX NEW YORK LIFE INSURANCE ON 13th FEB 2009. BUT TILL DATE THEY HAVE NOT FORWORD MY PF DOCUMENTS TO PF OFFICE.I HAD EMAILED MY ALL DETAILS REGARDING MY SETTLEMENT MANY TIMES.
BUT UNFORTUNATELY THERE IS NO REPLY TOWARDS MY PF SETTLEMENT.
SIR! REQUESTING YOU TO HELP OUT ME.
MY PF NO : PN[protected]
MY EMP ID : 0166

THANKING YOU

Sub : Policy No.[protected]Max NewYork Life Insurance)

I am A K Chadda and I am a 61 yrs old man staying in Lucknow with my family. I was introduced a MAX NEWYORK insurance policy (Policy No.[protected] by Mr Ajay Srivastava from Lucknow Office (Max New York Life Insurance), who came to my office on 29-04-09. But due to some personal reasons after a week or so, I informed him that I don’t want to continue the policy...