Below is the mail which I wrote to Kotak Life Insurance. I have copy pasted the same &&
Hi,
This is to inform you that I am one of the victim of one of your bloody Agencies who work privately on your behalf and make false promises. I am holding a 4 ulip policies from Kotak and paying the yearly Premium of Rs 100, 000 (Rs 1 lakh per year).
I was told by bloody agency that you need to pay just Rs40, 000 and we will clubbed all your other 4 existing policies/Ulip (whatever u call). Then you need not to pay any further yearly premiums for your existing 4 policies/Ulip (whatever u call). Moreover u will get a Gold Coin every year plus after 5 years you will eligbile for a pension for Rs5000 - Rs 6000 (depending on mkt rate) every month.
Kotak being a BRAND name in business I trusted his words (here I was wrong) and gave him a cheque of Rs40, 000.
After few days -- I never got a GOLD Coin morever received a confirmation packet from your end. To my nightmare it was another 2 polices/Ulip. As per that I need to pay Rs40, 000 half yearly. I was shocked to read that.
I dont know how to tackle with these agents but just want to escalate my concern so that corrective action could be taken from your end.
I spoke to one of your executive in customercare and was told that I can still cancel my policy within 15 days.
No Thanks and No Regards
Loveneesh
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