[Resolved] Max Life Insurance — Surrender amount of my policy | |||
Dear All, My name is Udaya. I am owing a insurance policy with Maxlife insurance.I have taken this policy on April 26th 2012. My policy number is[protected].I have paid premium for 3 years . My premium amount is 15000. So totally i have paid Rs.45341.41 including taxes. The sum assured is showing as Rs.182029.66. But when I called them for surrendering, I was shocked to hear that I will get only 9000 for the premium and 1100 as bonus. So totally I will receive only 11100 which is not even 25% of the total premium amount I have paid. The maturity date of my policy is 20/04/2032. When I asked whether I will receive the sum assured at least on the maturity date, they said again premium amount would be detected as per max life detection calculation. The detection policy was not said by the executives during policy purchase. So I request people to not trust Max Life and take insurance policies. There is no benefit unlike others insurance companies. Was this information helpful? | |||
Complaint marked as Resolved
Verified Support Sep 21, 2015 Max Life Insurance Customer Care's response Dear udayaa, Our customer representative has spoken with you and explained to you how the product actually works. We would like to remind you that the benefits of investing in a life insurance policy will be visible to you only in the long run. If you were to surrender your policy in the short tem, the benefits like you mentioned will be negated to a large extent as it is an instrument used for long -term savings only. Should you need any further information, please write to us at [protected]@maxlifeinsurance.com. Please mention Ticket No. 15702541 in all further communication on the subject.
Regards,
Max Life Insurance
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 3 Comments | |||
Comments
Sir,
My name is P.Rajamani and my Max life Insurance Policy No. is[protected]. I have taken this policy on 08.12.2012 and paid one year premium of Rs.29999.05 through AXIS bank, Villupuram. My max life policy client ID is [protected] and the code no. is 383220.
Last week on 30.10.2015 I received a call from your office mobile no. of +91 [protected] and +91 [protected] and asked my date of birth and verified my Max life policy no. through mobile phone and given instruction to pay the pending policy premium amount for the lapsed period of 2013 and 2014.
" I refused to make renewal of my policy and I am not interested to continue the policy also" I said to your representative clearly. But he told me, that "your policy growth is now more than one lack rupees because of share value was increased in the market and if you are interested you come forward to close your policy and get the amount"
And also he asked me "to pay Rs.20450/- to renewal of policy and make foreclosure of your policy immediately" "Then only the policy amount matured amount to be credited in your account" he urged me to pay today itself through NEFT Banking.
He has given SMS through his mobile no of. +91 [protected] and I received sms as follows: "Company name : ASSIST INDIA A/C no.[protected] IFSC:CBIN0284016, Central Bank of India, amount Rs.20450/-" according to his SMS I have sent amount of Rs.20450/- via State Bank of India through NEFT on 30.10.2015 and UTR No. is " SBIN[protected]"
But so for Iam not received my foreclosure policy amount. Now I have a doubt regarding the SMS received your company representative and mobile phone instructions. Please clarify me immediately. And also please credit the foreclosure of my Max Life policy amount to my AXIS Bank savings bank account no. [protected] ( IFSC: UTIB0000467) Villupuram Branch immediately to avoid legal proceedings. Please give me a reply to my Mobile No. [protected] or [protected] or my email ID: [protected]@gmail.com .
Thanking you,
(P.Rajamani)
Joint Director of Agriculture,
Villupuram District.
My name is P.Rajamani and my Max life Insurance Policy No. is[protected]. I have taken this policy on 08.12.2012 and paid one year premium of Rs.29999.05 through AXIS bank, Villupuram. My max life policy client ID is [protected] and the code no. is 383220.
Last week on 30.10.2015 I received a call from your office mobile no. of +91 [protected] and +91 [protected] and asked my date of birth and verified my Max life policy no. through mobile phone and given instruction to pay the pending policy premium amount for the lapsed period of 2013 and 2014.
" I refused to make renewal of my policy and I am not interested to continue the policy also" I said to your representative clearly. But he told me, that "your policy growth is now more than one lack rupees because of share value was increased in the market and if you are interested you come forward to close your policy and get the amount"
And also he asked me "to pay Rs.20450/- to renewal of policy and make foreclosure of your policy immediately" "Then only the policy amount matured amount to be credited in your account" he urged me to pay today itself through NEFT Banking.
He has given SMS through his mobile no of. +91 [protected] and I received sms as follows: "Company name : ASSIST INDIA A/C no.[protected] IFSC:CBIN0284016, Central Bank of India, amount Rs.20450/-" according to his SMS I have sent amount of Rs.20450/- via State Bank of India through NEFT on 30.10.2015 and UTR No. is " SBIN[protected]"
But so for Iam not received my foreclosure policy amount. Now I have a doubt regarding the SMS received your company representative and mobile phone instructions. Please clarify me immediately. And also please credit the foreclosure of my Max Life policy amount to my AXIS Bank savings bank account no. [protected] ( IFSC: UTIB0000467) Villupuram Branch immediately to avoid legal proceedings. Please give me a reply to my Mobile No. [protected] or [protected] or my email ID: [protected]@gmail.com .
Thanking you,
(P.Rajamani)
Joint Director of Agriculture,
Villupuram District.
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Regards,
Max Life Insurance.