Kotak mahindra life insurance
Miss Selling

This is with regards to a policy that was issued to me on Dec 24. The policy was sold to me fraudulently by misrepresentation of data/facts. I was contacted by Miss Anu, who presented her as a representative of ABN Amro Bank (RBS), with which I’ve been holding a Personal Loan worth 249000. She had a fair idea about the loan account I was holding with the bank as she knew that only a few installments were pending on that account.

She told me that if I get this policy, I will be sanctioned an OD account from ABN Amro worth 5 lacs at a very low interest rate of 10.5% p.a. When asked that why the company requires me to get this policy, she said that the company would pledge this bond against your loan to secure the amount. She also said that this was a special offer for all the loyal customers of ABN Amro bank. Since she knew so much about my account, I never doubted her that she could be a fraud.

I accepted the offer after her continuous perseverance. She kept in continuous touch with me after I gave her the cheque for good 10 days. I kept on inquiring about the OD account, but she said that since the loan amount was pretty huge, it generally takes some time.

After a few days she stopped taking my calls. Her phone was either switched off or went unanswered.

I then called up ABN customer care dept. to inquire about my OD account. They told me that there was no such offer in place and nothing with this regards was under process.

I lodged a complaint at RBS and also called up Kotak Mahindra Customer care in the month of February to complain regarding the same.

Since then I’ve been lodging several complaints in the customer service department of Kotak Mahindra, but in vain.

In a recent conversation with Mr Rahul Sharma of Kotak Mahindra, login Dept, I asked him for the name and address of the agent who received a commission on my policy. I’m very sure that it is easy for the company to track this person as the company must have issued a draft or cheque of commission to this person.

I’m in need of money and this fraud has caused a lot of monetary loss as I’d made commitments expecting the sanction of the loan. I’m nt in position to pay further premium on this policy.

All I want from Kotak Mahindra is cancel my policy and return me the amount (Rs 30000) that I’d paid against the same.

Also as a renowned insurance company it is your duty to track such fraudulent people and save the dignity of your concern.

I’ve also been told that such agents of Kotak Mahindra have sold several such policies by making fake promises all over Delhi. This is going to tarnish the image of your company.

Also the knowledge of my ABN Amro loan account to your agent is a great matter of concern. Its breach of my privacy, to which that person is legally liable and since that person is agent of your company Kotak Mahindra is also liable for the same.

I hope the above mentioned complaints would throw some light on fraudulent policy selling, taking place in your company.

Please look in to the matter and cancel my policy to return me the amount in full.

Thanks

Prashant Ajmera

9312270818, 27014877

Policy Details

Policy holder: Prashant Kumar Ajmera

Name of Insured: Mihir Ajmera

Policy no. 01822837

Date of commencement: 24.12.2009

Premium: 30000

Cheque dated 15/12

Cheque no: 009616

Supposed name of agent: Ms Anu

Mobile no of the agent : 9953687816, 9268916973

Company: Kotak mahindra life insurance
Country: India
State: Delhi
City: North West Delhi

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