I Vishwajeet Tiwari own the policy no.[protected] of maxnewyork life insurance co. from 6th september 2007 with premium amount 20k annually and i have paid all premium till day.
6th sept 2007- premium paid,next due date is,
6th sept 2008(nav price is 10.84), premium paid during lapsation period on 14/01/2009 when (nav price is 8.04),
As per IRDA rules, if an individual is paying premium in lapsation period than units will be allocated on current day NAV when individual is paying premium, means in my case i should be alloted units on 14/01/2009 NAV price at (8.04) but they alloted me on due date 6th sept 2008 at 10.84 NAV, where i suffer loss of 2.80 per unit.
next due date, 6th sept 2009(nav price is13.49),premium paid during lapsation period on 30/11/2009(nav price is 14.69)
This time they are correct accordingly IRDA rules, they alloted units accordingly current NAV when the premium paid on 30/11/2009 at 14.69 nav price.
The matter of concern is that, why they had gone against IRDA rule in the second policy due date in september 2008, and i had suffer rs. 2.80 loss on NAV on per unit, where i had been cheated by maxnewyork life insurance.I expect sincere concern from your side on this matter Was this information helpful? | 
