MAX NEWYORK LIFE INSURANCE
Max Newyork have surrendered my policy without informining me for no reason

Dear Sir / Madam,

My name is Jeetendra Patil. My Max NewYorl policy number is 226810729.

Last year, in Dec I received email / letter from Max NewYorl to pay Rs.500 towards premium. I paid same, but after 2 months I was told that due to non-payment of premium, policy was in lapse state. Then, I went to Max NewYork branch in Kukatpally in Hyderabad in mid of 2009. I asked them what amount needs to be paid to activate policy. They did all calculation, considering bonus, and then asked me to pay appx. Rs.1990, and also asked me to give health declaration form, which I gave. They told me that after that policy will be activated within two weeks. I trusted them. However to my surprise, when I called to customer care in 2010 to pay premium for 2010. I was told that policy was I lapse state for last one year, and was surrendered. They also said that they didn’t received health declaration form, which was submitted to Kukatpally branch in Hyderabad. I did, what I was told to do by Hyderabad branch office, after that policy should have been activated, if it has not been activated and gone into lapse mode and then surrendered than its not my fault. Now they say that policy have been surrendered, and this is not my fault at all. They have surrendered policy with informinig me and refunding me back only Rs.5, 000. Where as I have until now paid about Rs.16, 000 towards premium, and I am entitled for more six thousand towards bonus.

I have now no option but to go to Consumer Court.

I have been talking to customer care people for last 4 weeks, and none of them is able to resolve this. Its really painful and feels like I am penalized for buying policy from Max NewYork Life Insurance.

I hope you will look into this and address the issues at the earliest.

Best regards,

Jeetendra Patil (patiljeetendra@yahoo.com; 9985966606)

Company: MAX NEWYORK LIFE INSURANCE
Country: India

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