[Resolved]  Max Life Insurance — misled by axis bank representative

Address:

Mumbai City, Maharashtra, 400010

I started my policy on 19/10/2013 which was a actually a trap by an Axis bank representative stating that the policy will be helpful to us. The yearly premium was RS. 200000 approx. The first three year we managed to pay the premium. But on the fourth year due to the financial crisis was not able to pay and decided to surrender the policy. But at that time they told if you surrender the amount you will get will be much lesser and you will be in loss. The above stated information was not stated by the Axis bank representative at the time of application. Now they have convinced us to take a break of 2 to 3 year and restart the policy again. But we want to know if you can change the policy term or premium amount so that we can not face the crisis. Request you to give a solution for the aforesaid problem as we have already paid 600000 and want to get atleast the premium amount or any other option which will be favourable to us.