[Resolved]  Max Life Insurance — policy sold by giving false information

Address:

Mumbai City, Maharashtra

The information given at the time of taking this policy by your insurance advisor (Mr anup bhandari) was that i will be getting my total paid premiums as well as the bonus accumulated - 10% of total deposit value once i surrender my policy (After minimum 5 yrs lock in period). Now the email that i received from maxlife grievance team shows a different calculation.. Which is as follows

As per email — the cash surrender value will be at least 30% of all premiums paid (Excluding first years’ premium)..

That means i will lose the maximum 70% of the premium amount which i paid from my pocket. I want to know why this was not told by max life appointed agent at the time of applying for the policy. Why should i lose my hard earned money to this company's agents fault. I spoke to the agent (Mr. Anup bhandari) today. He told me the same thing again. He says he was trained to give the information that he gave me initially to apply for this policy.

Also this company is not giving any replies to my email about claiming my bonus or the surrender value if i surrender my policy on a later date.

I want to take strict action against this company and agent.

Please advise.

Mustafa kasim
Email : [protected]@gmail.com
Contact no.[protected]Doha, qatar)