Max Life Insurance — for cancellation of policy proposal number[protected]
sangrur, Sangrur, Sangrur District, Punjab, India
3535000Richa on Jun 25, 2019
please refund my policy amount as i can't maintain the emi of policy proposal number[protected] further.
Policy started in april 2019 and 2nd quarterly emy of 26125 debited in june 20, 2019. This is very hard for me to maintain the balance in account. I want to cancel and refund the same, when the policy started - i have been not acknowledged about the emi amount.
[Jun 25, 2019] Max Life Insurance customer support has been notified about the posted complaint.
Verified SupportMax Life Insurance Customer Care's response, Jun 26, 2019
We are very sorry about the inconvenience caused to you. Thank you for sharing your policy number. Our customer service team will reach out to you shortly to help understand the issue in detail and resolve it. Regards, Team Max Life Insurance
Verified SupportMax Life Insurance Customer Care's response, Jun 27, 2019
We would like to inform you that cancellation of a policy is strictly governed by the terms & conditions of the policy contract and these terms & conditions are part of our product approval processes with the regulator. As per the regulatory provisions, there is a free look period of 15 days during which the policyholder may approach the insurance company for cancellation (if not satisfied). This free look period starts from the date of receipt of the policy pack by the policyholder. In line with above, your policy pack including proposal form and benefit illustration was duly delivered at your mailing address via M/s Speed Post courier vide airway bill number- EH[protected]IN on 09-Apr-2019. We have received your request for cancellation now, which is beyond the free look period of 15 days. Hence, we express our inability to cancel the policy and refund the premium paid. We urge you to continue your premium paying record to avail the benefits of this policy fully. Also, we wish to clarify that basis your duly filled & signed ECS mandate form (attached) we have activated auto-facility in the policy. To this effect, we had sent transactions to the concerned bank for debiting the renewal premium amount against Max life policy. In case if want to deactivate auto-debit in policy records, please provide your consent for deactivating the ECS facility and for updating the future payment method as cash / cheque / demand draft / online payment. So, that you can pay the future premiums as per your convenience.
The same has been communicated to you on your registered email id. Do reach out if there's anything else we can help you with. Regards, Team Max Life Insurance
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