Kotak life Insurance
Refund not received

I have surrendered my Kotak life insurance policy no : 00105064 on 11th Nov.

After this I have received an SMS from Kotak on 12th Nov saying

“Dear Customer, request for Full surrender of policy no 00105064 was processed on 12 Nov 09. Surrender amt Rs. 109281.51 will be paid within next 10 days. KLIFE”

Today is 24th Nov and I have still not received any amount in my bank. I had asked for direct credit and I had furnished all details along with a cancelled cheque from my ICICI bank account.

I have checked with my bank and they have not received any such transfer.

I have already given a verbal complaint of the same on Kotak's customer service help desk at 18002098800 and my Kotak Request number is 01917190. I was told that it will take 3-4 days to get all these details. This is not acceptable.

How can they send an SMS that surrender amount will be paid in 10 days and then nto pay the amount even after 13 days

I would like to sue the bank for mental harrasment and take them to court.

Rishi Bhojnagarwala

Company: Kotak life Insurance
Country: India

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