| Address: | Pune, Maharashtra, 411018 |
The agent of max life has completely lied while issuing the policy otherwise i would have never bought such policy.
1. Agent lied on surrender value: he told if you surrender policy after 7 years you get full money. Reality: in policy it is stated that you will get only 30% of paid money
2. Agent told that i will get money after 20 years of policy issue date. I have taken policy when i was 24 years of old (In 2010) he told i will get 1.5lakhs from my age 44 to 60 and 2.5 lakhs from 61 to 75.
Reality: i will get only 7.5% of sum assured from age 61 to 75
The agent is complete fraud and cheated on policy. I have told agent to show all this on paper to confirm but looks like agent has shown wrong papers having wrong data because on max life site there is different surrent values and return values than what agent told. Was this information helpful? | 
I have surrendered my Policy no[protected] on 12 Oct 2017.
I am surprised with the kind of deductions that have been charged on the premiums i paid for the policy. For surrender I am just about getting 55% of the total premium i paid over last 14 years. I have been really taken for a ride by the agent and the company.
Even after huge deductions my surrender value is still unpaid after 25 days. I have surrendered the policy since i did not find it worthy of the initial illustrated / assurance . Moreover i need the money from surrender to be able to use it for alternate investment. It is 20 days since i surrendered the policy & i am yet to receive the payout from the company. At time of surrender i was given to understand max 4-5 working days would elapse before processing the release of surrender value amount due to me.
25 days have passed - I am still waiting to receive my payout.
Can you pls check and advise the status. Soliciting your prompt action.
Regards / Sailesh Chandak