Max New York Insurance Company Limited
Complaint for causing mental and physical harassment, inadvertent delays

Subject: Complaint for causing mental and physical harassment, inadvertent delays, concealing of facts, extremely poor customer service, No personal communication and financial damage

Dear Sir,

This is with reference to my Max New York Policy policies:

1) 466385382 (Life Invest Plan) – date of issuing: 19 March. Premium – Rupees 1, 00, 960 per annum

2) 351140108 (Level Term Policy) – date of issuing: 19 March. Premium – Rupees 9, 140 per annum

3) 472514694 (SMART Steps Plus) – date of issuing: 27 March. Premium – Rupees 40, 000 per annum

I have been an MNYL policy holder (3 above stated policies) for the last 2.5 years and pay a hefty premium for the policies purchased from MNYL.

I had purchased these policies in 2008 - The cheques towards the premium were debited to my savings account even before the medical examination results would have come in. Little / no communicated was undertaken by the company / agent to update me on the status of my policies / investments for the first year of service (Unit linked plans). All facts regarding exit clause, re-medical examination in case the policy lapses, other fine print was NOT explained to me by the company. The company was apparently operating through freelance agents at that time - without any proper training and their key focus was on collecting insurance premiums.

In the second year of the policy, there was little / no communication. No emails / telephone calls to update / intimate me regarding the status of the policies / premium collection. The company had outsourced its telecalling services to third party call centres, who had no clue on current status of the policies.. No verification was made even on delivering the letters to my erstwhile / previous address.

On changing my service advisor in the third year, The changed service advisor Mr xxxx (claiming to be MNYL employee) came in May to again take the premium cheques, was encashed by the company MNYL immediately and no intimation regarding policy status / investments was communicated for 2 months. Contacting Mr. Shah again, there was little / no help from the MNYL office. Now the company claims that the agent (who had come with an MNYL visting card) is an outsourced agent and is not an employee of the company.

After a fruitless search for any MNYL employee (apparently the entire MNYL multinational works on outsourced agents) – I have given up the hope to meet one. I have not met a single official who claims to be an MNYL employee. The collection of premiums is a job well undertaken by the outsourced MNYL agents and encashing the cheques is undertaken immediately by MNYL. Post which – there is no liability of either the agent or MNYL on ensuring any customer service whatsoever.

Even though the premium cheques were encashed by MNYL immediately on receipt in May Without any prior notification / explanation on email / telephone, my policies lie suspended. In short, I have paid close to Rupees 3.75 lacs to MNYL – over the last 2.5 years, neither am I insured, nor am I getting my money in return.

They returned the cheque after 3 months – claiming the policy cannot be revived. No reasons were ascertained for the same.

I had been running pillar to post to get my policies reinstated. Finally on contacting MNYL vasant vihar office, some help was assured and also given by the branch head. However, I was asked to undergo more medical tests to revive the policy by MNYL. This fact was not explained to me during the last 2.5 years of being an MNYL customer. Yet - I had undergone medical tests in the last week of July, and again there has been no written / verbal communication from MNYL for more than 2 weeks. I had already re-submitted the premium cheques at the vasant vihar branch. I had spoken to the doctor - who undertook the tests and he later communicated that the tests were fine. At the time of first issuance of the policy – the tests conducted were minimal. Medical tests are only undertaken at length to cause harassment to the customers under the garb of policy re-instatement.

Finally, I received a call again from MNYL branch on 16 August (today) that further medical tests were to be undertaken in my case.

I have been endlessly harassed physically, financially and mentally in the last 5 months by this attitude of MNYL officials and its agents. There seems to be no redressal forum even on the company website.

I request you to kindly help in resolving the issue at the earliest.

I do NOT wish to have any association with MNYL as a customer and would request you to kindly return me my savings.

I am marking a copy of this email to the relevant authorities in IRDA – only because I do not know where MNYL employees work or exist..There are only insurance agents / franchisees at MNYL.

Kindly help as I am in desperate need of a resolution.

Warm regards

VIPIN ARORA

MANAGING DIRECTOR – SYNERGY FOODS INDIA

aroravipin@yahoo.com contact: 09811090969, 011-26892128

vipin_arora1972

Company: Max New York Insurance Company Limited
Country: India
State: Delhi

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