I am Jose K George, Policy Number is 00319489. Agent - Binu Kannanthanam
I had taken a Metlife policy in march the premium was 99000 for 3 years, i paid an amount of total Rs. 297000. The offer from the Staff from metlife was if we paid premium of 99000 for 3 years the amount will increased to 5 times (Rs. 495000) or more, and he covinced us that and there is also an insurance coverage of 15 lakh for me. and i correctly paid it for 08, and 09. at 2010 the agent came us and said that if i and my wife signed a form i can add my insurance coverage to my wife too. we signed it. after 6 months my friends who had Metlife policy at the same time got a withdrawel of 1 premium, then i enquired at the Metlife office at Kottayam. they told that we withdrawn 99900 from my account and started a new account for my wife. if i want that amount i need to pay again the three premium for my wife's policy. then i decided to close my account and the agent said us that the policy is for 5 yrs if we want we hold it upto what we need, i reached metlife office for close my policy then they said that the policy is for 50 years (ie: customer's age to 100 i am 50 at that time) then i asked for emergency closing then they said that there is Surrender charge 70% of remaining amount and my account fund value is Rs. 174385 and i can withdraw only 1 lakh rupees rest will be surrender charge for closing.
while talking with other policy holders many people had the same experince from this same agent, metlife encouraging the agents fraud to register a policy. in my place many people struggling with same problem from this agent many people lost there savings for several years.
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