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This is a fraud and lying company.I received a call from their head office today saying that their staff had tried to convince me to not surrender the policy and the NAV of 43.50 was not conveyed to me. All lies. Whereas I was given a printout of my Fund value by their customer service guy. The person from the head office says that the amount that they have given me is full and final and I will not get anything else. When I said that I will go to the consumer court he says do as you wish. Wow.
I surrendered my policy on the 6th of May when the Stock market was falling. Had the customer care guy told me that that day's NAV would apply, I wouldn't have surrendered it and would have waited for the market to recover a little bit (I had a Growth Fund Driven policy). My premium was quarterly and the next premium would have been due only in end of July so I had 2 months time.
They are all fraud and I would be filing the case with Consumer Court against Max Life Insurance. I had planned to invest in their other policies for my wife and daughter with less premium option but I would say I was saved by these crooks for a very small amount. Thank you Cheaters/Liars/Fakes, etc.
I surrendered my policy on the 6th of May when the Stock market was falling. Had the customer care guy told me that that day's NAV would apply, I wouldn't have surrendered it and would have waited for the market to recover a little bit (I had a Growth Fund Driven policy). My premium was quarterly and the next premium would have been due only in end of July so I had 2 months time.
They are all fraud and I would be filing the case with Consumer Court against Max Life Insurance. I had planned to invest in their other policies for my wife and daughter with less premium option but I would say I was saved by these crooks for a very small amount. Thank you Cheaters/Liars/Fakes, etc.
Dear Samrat Soni, Our customer representative has sent the resolution on your registered email id. Please reply to that mail in case you have further query.
Regards, Max Life Insurance
Regards, Max Life Insurance
Here is the mail sent to your customer care representative:
Dear Sir,
I had called your customer care many times (You can check the service requests) and I asked them a simple question:
" If I surrender my policy today, what days NAV will be applied to the surrendered policy" I was told declared NAV value.
I asked them again that if I surrender my policy on say May 6th, what day's NAV will be applied to my policy, I was told "Sir, 5th". Please check the recordings you may be having.
Now, when I went to surrender my policy, Your customer care person did not try to convince me (It would't have made a difference anyways). He asked me why I wanted to surrender and I told him that I needed funds to buy a property and it would be difficult for me to pay pay the premium as well as the EMI for the loan I would be taking. I asked him what is the total value of my policy and he went to the system and got a print out of my fund value which he gave me. That clearly showed NAV of 43.50. He did not tell me that it would not be the value of my surrendered policy.
Now, some logic.. Share market was in a bad shape that day. It was falling. After confirming again and again with your customer care what days NAV would be applied to the policy when I surrender, I went in. Any sane person who would have been told that the end of same day's NAV would be applied, wouldn't have gone to surrender the policy when it's market linked. I had almost two months for my premium due. I would have waited for the market to recover little bit if I was told that same days NAV would apply, but I was misguided by the professionals you hire.
The person who called me today from your head office does not want to believe a customer but believe your staff. When I told him I would file a case withe the Consumer Court he is telling me "Sir, It is your wish". Fair enough. You must be having a CCTV footage of your office where I surrendered the policy. You can check whatever I have said is true or not. Infact when i called your customer care to ask why my 25, 000 were deducted, the person on the other side is telling me, "SIR, Surrender CHARGES, BLAH, BLAH, BLAH, etc. Check the recording sir. After correcting him and waiting for 25-30 minutes he comes up with other excused. When I asked him to speak to his senior, he says he is on call. What Nonsense.
Your customer care is not properly trained and misguide customers. God bless you all. And thank you for saving me even more money as I was supposed to invest with you guys for more policies with lesser premiums for my daughter and wife. I can now imagine the trouble you must have given us in the future if I continued with you.
Samrat Soni
Dear Sir,
I had called your customer care many times (You can check the service requests) and I asked them a simple question:
" If I surrender my policy today, what days NAV will be applied to the surrendered policy" I was told declared NAV value.
I asked them again that if I surrender my policy on say May 6th, what day's NAV will be applied to my policy, I was told "Sir, 5th". Please check the recordings you may be having.
Now, when I went to surrender my policy, Your customer care person did not try to convince me (It would't have made a difference anyways). He asked me why I wanted to surrender and I told him that I needed funds to buy a property and it would be difficult for me to pay pay the premium as well as the EMI for the loan I would be taking. I asked him what is the total value of my policy and he went to the system and got a print out of my fund value which he gave me. That clearly showed NAV of 43.50. He did not tell me that it would not be the value of my surrendered policy.
Now, some logic.. Share market was in a bad shape that day. It was falling. After confirming again and again with your customer care what days NAV would be applied to the policy when I surrender, I went in. Any sane person who would have been told that the end of same day's NAV would be applied, wouldn't have gone to surrender the policy when it's market linked. I had almost two months for my premium due. I would have waited for the market to recover little bit if I was told that same days NAV would apply, but I was misguided by the professionals you hire.
The person who called me today from your head office does not want to believe a customer but believe your staff. When I told him I would file a case withe the Consumer Court he is telling me "Sir, It is your wish". Fair enough. You must be having a CCTV footage of your office where I surrendered the policy. You can check whatever I have said is true or not. Infact when i called your customer care to ask why my 25, 000 were deducted, the person on the other side is telling me, "SIR, Surrender CHARGES, BLAH, BLAH, BLAH, etc. Check the recording sir. After correcting him and waiting for 25-30 minutes he comes up with other excused. When I asked him to speak to his senior, he says he is on call. What Nonsense.
Your customer care is not properly trained and misguide customers. God bless you all. And thank you for saving me even more money as I was supposed to invest with you guys for more policies with lesser premiums for my daughter and wife. I can now imagine the trouble you must have given us in the future if I continued with you.
Samrat Soni
Max is a third class company and GOVT of India is taking money from MAX to sell fraud policies
How is it possible to approve fraud policies without any help from Govt even IRDA is also involve in this as they are getting millions by fooling people and they just don't care for common people.
Dear Shilpi Arora, From your comment we understand that you are not satisfied with our products. We would like to understand your concern in greater detail. Please write to us your concern along with your policy no. or contact details at [protected]@maxlifeinsurance.com so that our customer representative can get in touch with you to resolve your issue.Please mention ticket no. 15123574 in future communication on this subject.
Regards, Max Life Insurance
Regards, Max Life Insurance
Dear Shilpi Arora, We have not received the details of your concern or your policy no.
/ contact details which would have helped us resolve your issue. You may write to us at [protected]@maxlifeinsurance.com for any query. Regards, Max Life Insurance
/ contact details which would have helped us resolve your issue. You may write to us at [protected]@maxlifeinsurance.com for any query. Regards, Max Life Insurance
This is totally fraud company, Just makes fool to the innocent and uneducated people. No body informs about the dangerous terms and conditions before the start of policy. As my mother has deposited near about 60, 000rs in three years. Now because of bad financial conditions we can't give more money. we want to surrender but Now Axis Bank near maqsudan Jalandhar punjab through which my mother purchased this policy saying that we will get only 3500rs. This is totally making fool I'm going to newspaper office and will tell story of my mother to everyone and will aware my all Indian citizens about the fraud max life insurance and axis bank. I will also going to consumer court.
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Regards,
Max Life Insurance