[Resolved]  Max Life Insurance — Surrendering the policy

Address:

Pune, Maharashtra, 411032

Hi,

My name is harikumar s r. I had taken the policy on sep 08 and i have paid the policy for 5 yrs till dec13. On contacting about maturity period i was informed that there is no such maturity period for this policy as it is a whole life participating policy for 100 yrs and i have to pay till 100 yrs. Seriously!!! Is it any kind off joke??? Sum assured is 10 lakhs and to claim that i need to wait for 100 yrs. So on contacting max life and i said the policy was mis - sold to me without informing about the maturity period, they said get in touch with the agent. Is that how u respond to the customer. Agent was johnykutty with agent id:22883., i contacted the agent and he said contact max insurance itself. So out of frustration i stopped making the payment and in jan17 i got a call from max life saying that if i dont make the remaining payment by 31 march 17, my policy will be terminated and i shall get amount back. On asking what is the amount, they said i will get only 36000rs, whereas i have paid rs.100000. This is pure cheating from the insurance company. Today im going to submit my documents for surrendering the policy. If i dont get my complete amount that i have paid, i will go to media and court regarding the cheating the insurance company and the stupid agent who does anything to sell the insurance policy.