My Relationship manager (RM) from Kotak bank came with its insurance advisor and suggested me to invest 2.00 lakhs one time payment in Kotak Second innings plan as part of my wealth building exercise towards a long term investment.
Firstly, i have paid the amount and when I received the premium paid receipt, found certain incorrect details like nominee name, premium paying term etc. and informed my RM to take care before policy issue. With full confidence on the Kotak bank & its group, I didnot send a letter in writing.
2ndly received the original policy very late after payment (approx.2-3 months time). Meanwhile, I logged into KLIFE website using my customer ID & policy no and raised a complaint on above incorrect details and also stated non-receipt of original bond. This complaint was within in 2 weeks of premium receipt and before even receiving the bond. KLIFE cud have corrected all these discrepancise before issuing the bond. but they didn't do it.
Their response is like IVRS message & stated this is as per application form etc.
Frankly, the form was filled by the agent from kotak and my RM. I have only believed them and signed it. I have been repeatedly chasing since 1 year and many officials from KLIFE visited me & assured that they will take care. But to my surprise, recived renewal notice immediately after one year. I raised this to KLIFE and again same pathetic response. I am totally un-happy customer with Kotak.
Please advise when will I receive my 2.00 lakhs premia paid and why KLIFE doesn't take responsibility of errors in their policy even after highlighting by customers? What action can we take on the agent who done a wrong selling of policy to me. pls help as klife is still chasing for
Regards, Surendra
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