Hello,
My sincere request to all, who reads this message, Please be careful while investing with Max Newyork life insurance, if you are careful about your hard earned money.
I wanted to put this, real horrible case for me. I had invested in Max Newyork Life insurance, in from Pune. For the first year I invested Rs 24000/- . And What I could see after one year is my fund value bacame 1. I paid next installement of 1-, and then the Fund value became Rs 24000/-. This is frustrating as, I lost 30% amount straight away, when the market was balanced. And I was doubtful about the future with this company.
In 2009 was down time in market and I could not continue this policy and policy got lapse. Now I wanted to renew the policy just to get back my invested money, but no one in whole Max Newyork company, no one knows about the current fund value of my policy. And they said, they cannot disclose this FV, as this is per their company rule. Now, I am in trouble because, I don't know what happened to my invested money and I do not have any confidence that my money is secure with them, as I had already lost my 30% (appro) amount in first year. Even this company is not giving me any confidence, that my money is secure with them even it is lapsed, so that I can invest in.
At the end, I Iost my Rs36000/- .
Regards,
Painful customer of Max Newyork Life Insurance
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