[Resolved]  Max Life Insurance — regarding less receipt of surrender value of premature policy

My Name is Neeraj chauhan and am from Unnao, U.P. I have a policy with max life insurance which was taken in Nov 2012 and the policy number is[protected].The complaint on them is that I had continuously payed premium of 72000 i.e 2, 000 per month for 3 years. When i got to know that the lock in period is 3 years I telephonically contacted to Max life office at Hazratganj, Lucknow and made query about surrender value, In reply their representative told me that at this stage I would receive a very less value I.e. about 23, 000 approx. moreover, if I manage to pay for 5 years then I would receive atleast that amount which I have deposited against policy. Further on her advice I manage to continue the policy and after completion of 5 years I visited to same max office on 27th of Nov'17 in connection to surrender the policy and asked about surrender value, in reply the officials told me that i would receive only Rs 77, 000 approx. I was shocked to hear that after contributing of Rs. 1, 20, 000 for 5 years I'm going to receive the value with loss of 43, 000. For this I seriously share the previous conversations which were made between us to which they denied straightway. Further i telephonically contacted to max customer care no. and disscussed about surrender value of policy with all previous happenings to me. Their customer care representative told me that on surrendering of policy on completion of 5 years i should receive the value equal to 4 year deposits beside this that lady representative advised me to visit their office for more details. Again on dated 28 Nov'17 I went to same office and discussed the matter but it was all waste as they don't want to cooperate anyway. This proves the uncertainty/fraudulent in payment policy of max life insurance. Further in tensed mental condition I submit the formalities in connection with surrender of policy, consequently I have received the value of Rs. 76, 975/- in my bank account on 04/12/17 with huge loss of Rs. 43, 025/-. This was the worst experience of my life. I hope upon this complaint my case will be scrutinised again and wish that diffrence amount be paid to me at the earliest.