[Resolved]  Max Life Insurance — Misleading information regarding term policy by max agent and unfair deduction from the refund amount to be paid

Dear Sir/Ma'am

First of all, I have had a terrible experience in terms of service after I made payment towards term policies, one in my name & the other, in my spouse's.

I first opted for a term policy (#[protected] on 20.11.2021 with the payment period for 10 years. I also took one (#[protected] for my spouse for the same duration. I did not have time to review the same and went ahead with the premium payment because the sales executive assured me that I would get a full refund if I cancelled it within the look-up period.

Later, I reviewed options and decided to go with the payment period till 60 years. Meanwhile, both my spouse and I had undergone medical tests for the earlier policies on 21st November. So I spoke to another executive of your team on 21.11.2021 who said that if I have to get a full refund for the previous policies, I have to take fresh policies and send a request by mail to service.[protected]@maxlifeinsurance.com. He also said that we need not undergo further medical tests as we have already taken the medical tests and those reports would be fetched for the fresh policies. Solely based on that assurance, I took fresh policies (#[protected] and #[protected] by making payment and also dropped emails both from my email id and my wife's email id. Meanwhile, I kept calling your executives and dropping emails asking for cancellation updates of earlier policies.

At the same time, I have your own team members calling me and asking me and my spouse to undergo medical tests again. When your team has gone ahead and issued a policy based on the test results, why would you want me to undergo another set of tests? The sum insured remains the same, the insured also remains the same. What is the logic? Where is transparency? Where is integrity? Is this how you milk your clients of their hard-earned money?

Last time when I spoke to an executive on Saturday, I told her that I need an acknowledgment mail regarding cancellation of policies. She said that the email would be sent regarding the same and I received none till date.

Now, today I received a call from another executive from your team saying that I will have to bear stamp duty deduction as the policy has been already issued on 25th November, 2021. Why should I pay it when I had immediately requested for a cancellation of those policies on 21st itself. I have all the documents that I had sent to your service desk to prove the same (PFAs). I requested her to share her name at least, which she did not. She said that we were misled by your own team members (Imagine a person from your own team making such statements).

I completely distrust your organization and would like to cancel all the four policies that I have made payment for.

Thankfully, my wife's policies weren't issued. I am completely let down by your company' principles and values.

I am truly appalled to see and experience your team's pathetic and callous customer service. I request you to fully refund the whole payment I have made towards these policies at the earliest, failing which I will pursue legal action against your company.

REFERENCE NO.S: 06537307/6540111 (Myself),[protected]Spouse)

NB: I have also escalated the issue by sending emails to manager.[protected]@maxlifeinsurance.com, head.[protected]@maxlifeinsurance.com and complaint.[protected]@maxlifeinsurance.com