[Resolved] Max Life Insurance — Maxlife Denying Surrender value amount regardless it is mentioned in policy book.

Wasim.k

from Mumbai, Maharashtra

Oct 27, 2021

Address:

Mumbai

I am a Maxlife policy holder and I have completed 1 year with the policy on 2 September 2021. Due to some financial reason I planned to surrender the policy.

At the time of opting for the policy I was informed by Maxlife Agent that in any case I would be able to surrender the policy and get the surrender value amount after one year of completion with the policy. Same thing is mentioned in Policy book's Benefit illustration Chart at page 32(attached photo).

It's been almost 2 months I have been requesting for the Surrender value amount with Maxlife insurance company, However they are denying for surrender value and misdirecting me towards baseless scenarios. They are frustrating me lot. I complained to IRDA and even Ombudsman portal one month before but there also no progress.

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Dec 25, 2021

Complaint marked as Resolved

Max Life Insurance customer support has been notified about the posted complaint.

Oct 27, 2021

Updated by Wasim.k How can it be marked resolved just within 2 minutes after submitting the complaint. There is no justification given and not even single world reply I got. Is this forum only to favor maxlife???

Nov 11, 2021

Updated by Wasim.k Its about 15 days and Maxlife has not replied on my Issue. They do not have any answer for their wrongful way to misguiding customers and making them stuck with their money.

Verified Support

Nov 24, 2021

Max Life Insurance Customer Care's response Hi Wasim,

We regret the inconvenience caused. Our team member will connect with you and address your concern in the best manner possible.

Regards,
Team Max Life.

Verified Support

Jan 24, 2022

Max Life Insurance Customer Care's response Hi Wasim,

We would like to inform you that your concern has been resolved and the update has been shared on your registered email ID. Do reach out if there's anything else we can help you with.

Regards,
Team Max Life.