[Resolved] Max Life Insurance — Wrong insurance policy issued to senior citizen

bipan gupta

from Srinagar, Jammu and Kashmir

Address:

Panchkula, Haryana

From
R.K Luthra
H.No. 185, Sector -9, Panchkula (Haryana)
Mob. No. [protected]
To
M/s Max Life Insurance Company
Sector -11, Panchkula.
Dear Sir,
I was issued the above stated policy certificate for Rs. 200000/- Lacs on yearly installment of Rs. 20000/- w.e.f 24.03.2009. I have been regularly paying the installment of premium warth Rs. 20000/- till the year 2013 (5 Installments). The total amount comes to Rs. 100000/-
I would like to draw your attention to the aforesaid policy document that when I came to your office I was ensured by your the then concerned officials namely Sh. Bindra and others and presently meeting with Mr. Rajbir Singh that the amount of policy shall be invested in assured return portfolio which means that my paid up premium shall attract premium paid Plus any amount of growth till I Surrender the policy. However I was astonished to receive your letter dated 27.12.2016 therein you have informed me that the surrender value is just Rs. 29371.49 against my paid up premium of Rs. 100000/- which clearly establishes the deceitful action on your part by diverting my funds to the wrong portfolio which has linked to market value. This practices not only bad in nature but prejudice to the interest of SUPER SENIOR CITIZEN who has strived to pay this hard earned money out of his pension which is the main source of his livelihood after his retirement. It is also astonishing that when I had stopped to pay the premium then what was the fun to deduct mortality charges.
Your aforesaid action has prompted to stay away from continuing this policy furthermore . Now you are advising me to continue my policy paying the arrear of Rs. 60000/- So that I may suffer more loss. I humbly request you to pay me Rs. 100000/- premium amount plus some portion of growth within 15 days failing which I shall have no other option but to take legal recourse to the matter.
In the end I hope that you will kindly consider my case sympathetically keeping in view of my old age of 78 years.

Thanking you. Yours sincerely
With Regards
Dated:[protected]R.K. Luthra)

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Apr 10, 2017

Complaint marked as Resolved

Max Life Insurance customer support has been notified about the posted complaint.

Verified Support

Mar 02, 2017

Max Life Insurance Customer Care's response Dear Mr. Luthra, our customer representative tried connecting with you on the number mentioned by you but there was no response. Kindly share an alternate number and a suitable time when we can connect with you. In case you Want any further details, please mail us at [protected]@maxlifeinsurance.com. Regards, Max life insurance.

Verified Support

Mar 02, 2017

Max Life Insurance Customer Care's response Dear Mr. Luthra, We would request you to please share your policy number at [protected]@maxlifeinsurance.com so that our customer representative can connect with you at the earliest to understand your concerns in greater detail. In future you can reach max life directly on the email id mentioned above.Regards, Max Life Insurance.

Verified Support

Mar 10, 2017

Max Life Insurance Customer Care's response Dear Mr.Luthra, In order to understand your concern in greater detail and to provide a quick resolution, it is important for us to speak to you and get the complete details regarding your case. We will call you the same day and try to resolve your concern once we get your contact number. Incase you need any further information kindly write to us at [protected]@maxlifeinsurance.com and mention ticket no 18029212 in the subject line of all future email communication on the subject. Regards, Max Life Insurance.