Max New York Life
False Commitment by Max New York Life

I bought a Child Endowment Policy from Max new york life in March. My Policy no. is 268325057. When I was sold this policy, I was clearly told by the agent that I need to pay the premium on a reducing basis. For the first 3 yrs I need to pay 24, 959 and from 4th year it will decrease, with the 4th year premium being 20450.

I received a premium reminder few days back, asking for a payment of 24, 959. To my horror, when I called the helpdesk they told me there is nothing called reducing premium and that I have to pay this premium right till 2029. I was shocked to near death, hearing this. When I told the helpdesk, what I was committed they very coldly told it was just an EXAMPLE.

I now feel totally cheated by Max new york life.

Had I known that I have to pay 24.959 for the next 23yrs, I wouldn't have bought this policy at all.

This is the case of cheating and false commitment done by Max New York Life agent.

Regards

Sanjay