[Resolved]  Max Life Insurance — surrender value is 50% of what I have paid in last 7 years

Hi,

My wife taken a policy called Max Life Amsure bonus builder in the year 2010. And paying the yearly premium regularly and 2 days back we though of surrendering it and when we called customer care the response was that we would get only 35000 where as we have paid the premium for 7 years which comes to 70000 + amount.

When we asked the customer care executive he just told its in the policy please read.

I mean we are not asking anything more, we just want to surrender the policy and get back the amount whichever we have paid from last 7 years.

This looks like cheating to the customer even though we have paid 70k now we would get only 35K 50%. I mean it doesn't make any sense and we are not asking for any bonus amount or extra amount we just want to surrender the policy and get back the amount which we have paid.