MAX NEWYORK LIFE INSURANCE CO.(ULIP)
ULIP policy hidden charges. negative fund performance

NAME OF COMPANYMAX NEWYORK LIFE INSURANCE CO.(ULIP)

POLICY NO.601124928

NAME-MRS ARUNA

D.O.B.28-12-1955

I PAID RS. 150000 AS PREMIUM FOR 3 YEARS [ & 2009].

WHEN I CHECKED PERFORMANCE OF MY FUND, I FOUND THAT FUND VALUE

IS 90000/- ONLY.

INITIALLY I WAS NOT TOLD THIS HIDDEN FACT.I HAVE INVESTED MY HARD EARNED INCOME IN THE COMPANY BUT DUE TO VERY HIGH CHARGES LIKE ADMINISTRATION ETC. ABOUT RS.2500 PER MONTH, MY FUND VALUE IS GOING DOWN INSTEAD OF INCREASE.

I UNDERSTAND THAT FUND VALUE MAY FALL DUE TO FALL IN SHARE MARKET BUT MAXNEWYORK IS CHARGING SO MUCH HIDDEN CHARGES DUE TO WHICH I LOST ALL THAT I SAVED. THE COMPANY NEVER SENT ME ANY STATEMENTS OT RECEIPTS OR POLICY DETAILS OR RULES. WHEN I CALL THE CUSTOMER CARE, WE HAVE NOT SENT BECAUSE YOU HAVE NEVER ASKED FOR POLICY DETAILS.

SO, AS PER FACT WRITTEN ABOVE I WANT TO CANCEL MY POLICY AND REFUND ALL MY MONEY I.E., 150000