[Resolved]  Max Life Insurance — Cancel Max Life Insurance

Address:

603210

This is Bala Ganesh from Chennai. I have taken Policy from Max Life insurance & Policy Number is[protected] taken on 2010. Now I have decided to surrender the same. Till now I've paid premium of Rs 84330. But when I inquired Max Life Insurance they mentioned my surrender value is only Rs 31, 086.45. Since I've paid premium for 7 years why should I loss around 53000. Whats the reason behind this much reduction while surrender the policy. Please tell me the reason for the same.

Below is the mail I got from Max Life Insurance

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Greetings from Max Life Insurance!

We are pleased to have you as our esteemed customer.

This is with reference to your query regarding the aforesaid policy number[protected] .

We would like to inform you that in order to surrender the policy we would require the below mentioned documents to be furnished:

1. Duly filled and signed surrender form
2. Cancelled Cheque (with policyholder name and account number printed) or Bank Passbook photocopy
3. Original policy documents from the policy holder.

You may submit the above document in our general office in your location, please carry your photo ID proof while you are visiting the branch office.

Please find below the surrender value details as on April 12, 2017, however these are the approximate figure and likely to change at the time of surrender.

Total Surrender Value = Rs 31, 086.45

The cash surrender value will be at least 30% of all premiums paid (Excluding first years’ premium) plus bonus (if any).

We value your relationship with us and will be happy to address any further queries that you might have
In case you are not satisfied with our response, please feel free to write to us at manager.[protected]@maxlifeinsurance.com.
To download premium receipt of your policy and get policy related information, please visit www.maxlifeinsurance.com and login to the policyholder portal.

Assuring you best of services at all times.

"Beware of fraud calls & emails! Please pay your policy premium only to YOUR POLICY ACCOUNT. For NEFT payments, please transfer only to "HSBC Bank A/c no. 1165 ". For cheque payments, please write beneficiary name of "Max Life Insurance Co. Ltd. . DO NOT PAY INTO ANY OTHER ACCOUNT! Max Life does not collect premium in any other account.

Max Life or any of its representative will never call or email you for the following:1) Discount offer on payment of renewal premium, 2) Asking for feedback on servicing by your agent, or3) To deposit extra premium to get the policy maturity / bonus amount

In case you receive such fake calls or emails, please file a FIR with the police and lodge a complaint at the TRAI regulated phone number ‘1909’ from your phone. Do also send us a copy of the complaint / report at service.[protected]@maxlifeinsurance.com.

Thanks and Regards,
Pratika Singh
Customer Service
Max Life Insurance Co Ltd.
Operation Center, Plot No. - 90 A
Sector - 18, Udyog Vihar
Gurgaon - 122015
Toll Free[protected] /[protected]
Fax Number[protected]
Email ID - service.[protected]@maxlifeinsurance.com