[Resolved]  Max Life Insurance — Max life policy took under wrong guidance/telling lies

Address:	Kolkata, West Bengal
Website:	Max Life Insurance

Ref: max life policy no.[protected]
This is to inform you that my salary account is with axis bank, dalhousie branch, clive row, kolkata-700001. While discussing with one of the staffs in the bank, (Mr. Prasenjit paul) regarding parking of some amount of rs.1.50 lakhs, mr. Prasenjit paul had told me that i can put the money with your max life. I had, in fact, told him that this money i require after 3 or 4 months when my daughter’s marriage would take place. He also clearly told me that i can withdraw this money any time after 2 months and with that clear understanding only i took up this max life under his assurance that the money would be returned back to me with interest. He never told me that i have to pay rs.1.50 lakh every year and that too for 8 years with maturity of 20 years. All this he never informed me at the time of taking the money from my bank account and kept me in dark by telling all lies. I trusted him because he being an axis bank employee, i just believed his version without a second thought. Later on now when i went through the policy, the actual thing has come to light that i have to pay every year. This fact i informed your agent, mr. Prasenjit paul within the validity of 15 days look in period, but he vehemently denied that whatever mentioned in the policy cannot be taken for granted and that he will arrange the money to be refunded to me anytime i wanted within 3 to 4 months. All along he was bluffing me and wanted me to continue with this policy by hiding the facts to me and now when i wanted the money back from this deposit, he says that he is no more in that branch and that the money cannot be refunded unless i pay for another 2 premiums in the next two years etc. Etc. This matter he never told me in the initial stage within 1 month after taking the policy and he has been forcing me to take it telling that nothing to worry about and he will arrange the refund etc whenever i want the money. If i do not pay any further premium next year (After one year), i will not get back the premium already paid and if i continue to pay another 2 premiums, at the end of 3rd year i will get 30% only. This fact he never told me and repeatedly he was telling me lies that the 1st premium of rs.1.55l which i paid would be available for me to take back any time, i. E. After 2 months with interest, etc. Now that my daughter’s marriage has been finalized to take place within 3 months, i require the money very badly and this i explained to him at the time of taking this policy and with his full assurance i agreed to go ahead with this investment. If he had told me the truth and facts in the beginning itself, why should i take the risk of blocking the money in the first place? He misled me and dragged me into this investment telling all lies. Even when i got your telephone call saying that i have to pay every year, the agent told me to not worry and that my money would be refunded any time i want, etc. Etc. He totally misled me by hiding the facts. I was misled by mr. Prasenjit paul of your branch (At that time) and told me all lies. He even told me that i have to pay only once and this money can be withdrawn any time as i had clearly told that this is for the marriage of my daughter and parking only for 2/3 months. Despite knowing everything clearly, he trapped me and took me for a ride. He had clearly done cheating with me by giving wrong guidance.
Under the circumstances, i would request you to kindly arrange to refund the amount which i kept for my daughter’s marriage only as temporary investment and not for long term investment.
Kindly consider my request in the right perspective and return the amount at the earliest.
Thanking you,
Yours faithfully,
P. E. Ramachandran
[protected]
[protected]@yahoo.co.in