[Resolved] Max Life Insurance — max life insurance to getting the amount of policy which failed to carry policy due to serious illness

 
1 Review
India
 S S Bhambhu on Jun 4, 2019
I have max life insurance policy[protected] started in year august 2014 the name of shamsher singh of three annually installation but failed to carry forward due to illness in disc problem of which result i was in bed about two years and that time i lost my physical movement. After that my financial condition is not good so which i can forward with this policy. Now i want that my policy be refunded as am not able to continue this policy due to my financial condition after that illness.
Now, i am requesting you to refund policy so that me not to go for other legal forums.
Thanking you.
Complaint marked as Resolved Jul 8, 2019

Complaint Status


[Jun 04, 2019] Max Life Insurance customer support has been notified about the posted complaint.
Verified Support
Max Life Insurance Customer Care's response, Jun 04, 2019
Dear Shamsher,
Thank you for sharing your policy details with us. Our customer representative will connect with you to address your query. Regards, Team Max Life Insurance
Updated by S S Bhambhu, Jun 06, 2019
Max life has not bothered to be resolve the issue nor its any representative made call. This is lastly informed to resolve the issue or ready to face the legal consequence.
With regards.
Verified Support
Max Life Insurance Customer Care's response, Jun 07, 2019
Dear Shamsher,
We are working on your case. We request you to give us some time to resolve your concern.
Regards
Team Max Life Insurance
Verified Support
Max Life Insurance Customer Care's response, Jun 07, 2019
Dear Shamsher,
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 mailing address through Speed Post vide air way on Aug 28, 2014. 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 premiums paid. 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 two (2) years and provided all the premiums that have fallen due have been received. Since we have not received the complete premium for first 2 years, there is no surrender value payable. Also, we wish to clarify that the policy pack status is inactive/lapsed due to non receipt of payment since Feb 13, 2016 (Revival period end date: Feb 13, 2018). Also, 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
Updated by S S Bhambhu, Jun 07, 2019
My issue yet to be resolved. Thanks for your concern.
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    Max Life Insurance - max life insurance to getting the amount of policy which failed to carry policy due to serious illness