[Resolved] Max Life Insurance — fraud policy
Bhopal, Bhopal, Madhya Pradesh, India
Ppawan.tomar25 on Apr 19, 2019
Hello sir, i pawan sing tomar and my contact no. ([protected]) and i am basically from bhopal and my father name is late mr. Ratan sing tomar and my mother is late mrs. Jyoti tomar and have register my complain agains max life insurance and axis bank they give me a wrong information regarding policy by broker krishan korab /broker no-485256 in axis bank and i at the time of policy ia am only 22 year old and i am nothing to do at age 22 when they give me fraud policy and mya father has been expired in 2012 and since last 3 year i am serviving my mother cancer and now she is also expired in december 2019 and and now my economical condition is not good and i want my money back they give me 2 policy at 2015.
Complaint marked as Resolved Jun 10, 2019
[Apr 19, 2019] Max Life Insurance customer support has been notified about the posted complaint.
Verified SupportMax Life Insurance Customer Care's response, Apr 22, 2019
Dear Pawan, We are very sorry about the inconvenience caused to you, and will help with its resolution. 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, May 09, 2019
We wish to clarify that the 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 communication address via M/s FFSECURED vide air way bill number on Sep 12, 2015. At the time of policy issuance, a verification call was also done on your registered mobile number during which you confirmed that you were in agreement with the terms and conditions of the policy. 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 policies and refund the premium paid. Further, we wish to clarify that the policy pack status is inactive/lapsed due to non receipt of payment since Aug 03, 2016 & Aug 12, 2016 (Revival period end date: Aug 03, 2018 & Aug 12, 2018 respectively). Further, as per the terms & conditions mentioned in the policy contract, this policy acquires surrender value if it has been in force for at least three years and provided all the premiums that have fallen due have been received. Since, we have not received the complete premiums hence, there is no surrender value payable. Do reach out if there's anything else we can help you with. Regards, Team Max Life Insurance
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