[Resolved] Max Life Insurance — fraud by max life

[Resolved] Max Life Insurance — fraud by max life

R Rahul_k1505 from Bengaluru, Karnataka

I have two policies with max life with the policy number[protected] and[protected] Due to financial conditions i am unable to pay the premiums and i want to discontinue the same. When i called the customer care i was told i would get just 30% of the amount paid. When i took the policy i wasnt even informed about this. I have paid close to 2 lakhs which includes both the policies. I want my complete money back. Im closing the policies because of financial condition and these guys will pay back just 30percent.. Was this information helpful? No (0) Yes (0)
Apr 8, 2018 Complaint marked as Resolved Max Life Insurance customer support has been notified about the posted complaint. Verified Support Mar 05, 2018 Max Life Insurance Customer Care's response Dear Rahul, The inconvenience caused is deeply regretted. Our customer representative will speak to you shortly to address your concerns related to policy cancellation. Regards, Max Life Insurance. Verified Support Mar 08, 2018 Max Life Insurance Customer Care's response Dear Rahul, Our customer representative has mailed you the details related to your policy discontinuance concern. Regards, Max Life Insurance Mar 12, 2018 Updated by Rahul_k1505 I am still waiting for a response, I got a mail stating that "Our Customer Service Representative Madhup Bajpai has been assigned your request and will get back to you with a suitable resolution shortly" and I havent received any call yet Mar 27, 2018 Updated by Rahul_k1505 The reply i receive is "After the Policy has been in force for at least three years and provided all the premiums have been paid for three full years, then the company will grant a cash surrender value which will be not less than 30 % of the premium(s) (excluding the first year’s premium) received" .. No one told me about this FINE PRINT when i purchased the policy. I want to cancel my policy and get my complete refund back and not 30%.
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Rahul_k1505

from Bengaluru, Karnataka

The reply i receive is "After the Policy has been in force for at least three years and provided all the premiums have been paid for three full years, then the company will grant a cash surrender value which will be not less than 30 % of the premium(s) (excluding the first year’s premium) received" ..

No one told me about this FINE PRINT when i purchased the policy. I want to cancel my policy and get my complete refund back and not 30%.