Jun 10, 2019 Complaint marked as Resolved Max Life Insurance customer support has been notified about the posted complaint. Apr 19, 2019 Updated by pawan.tomar25 hello any update regarding my complain
Apr 19, 2019 Updated by pawan.tomar25 Hello
due to the private bank's broker.
How long will a private company such as Max Life and Axis Bank deceive and cheat the people, and their agents are not getting any excuse, therefore it is increasing on the broker's registration of the private company by giving the ring information and signing the document. Then go to different hat then we have no proof that we can not get them wrong proof
Verified Support Apr 22, 2019 Max Life Insurance Customer Care's response Dear Pawan, We are very sorry about the inconvenience caused to you, and will help with its resolution. Thank you for sharing your policy number. Our customer service team will reach out to you shortly to help understand the issue in detail and resolve it.
Regards, Team Max Life Insurance
Apr 23, 2019 Updated by pawan.tomar25 Still your customer care team not contacting me whay?? Please Give me a proper solution other wise finally i have to go consumer court
Verified Support May 09, 2019 Max Life Insurance Customer Care's response Dear Pawan,
We wish to clarify that the cancellation of a policy is strictly governed by the terms & conditions of the policy contract and these terms & conditions are part of our product approval processes with the regulator. As per the regulatory provisions, there is a free look period of 15 days during which the policyholder may approach the insurance company for cancellation (if not satisfied). This free look period starts from the date of receipt of the policy pack by the policyholder. In line with above, your policy pack including proposal form and benefit illustration was duly delivered at your communication address via M/s FFSECURED vide air way bill number on Sep 12, 2015. At the time of policy issuance, a verification call was also done on your registered mobile number during which you confirmed that you were in agreement with the terms and conditions of the policy. We have received your request for cancellation now, which is beyond the free look period of 15 days. Hence, we express our inability to cancel the policies and refund the premium paid. Further, we wish to clarify that the policy pack status is inactive/lapsed due to non receipt of payment since Aug 03, 2016 & Aug 12, 2016 (Revival period end date: Aug 03, 2018 & Aug 12, 2018 respectively). Further, as per the terms & conditions mentioned in the policy contract, this policy acquires surrender value if it has been in force for at least three years and provided all the premiums that have fallen due have been received. Since, we have not received the complete premiums hence, there is no surrender value payable. Do reach out if there's anything else we can help you with. Regards, Team Max Life Insurance
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I am afraid things don't work like that. You were 22 and hence an adult and were fully aware of the documents you were signing at that time.
Until and unless there has been a high level of misrepresentation by the bank employees or brokers, I guess nothing you can do which will change the outcome.