This is with reference to my policy. I had handed over the surrender request to Ms Aditi on 10th of March at 1:15 pm to fulfill my financial needs. (The NAV for 10th was 24.31) I read the policy surrender terms and conditions. As per the terms I came to know that if I surrender the policy to Metlife office before 3:00 pm the applied NAV for the units will be the same date. So in my case the NAV should get applicable for 10th of March. I came to know that if I surrender the policy the surrender charges will be 70% of my first annual premium. So with investment for more than 3 years I have to loose around 19 k on my base investment without any returns.
After 11 days I got the cheque for the NAV dated 11th of March. (NAV for 11th was INR 24.10). Where I lost another INR 800 towards Metlife Staff mistake where I was nowhere concerned. I have followed the Metlife rules to get the NAV for 10th of March.
I called Metlife Pune office to resolve the issue and had talk with Mr. Amol Wayase and Ms. Adidti but nobody given me the proper explanation about the case. Aditi told me that she was having workload that day so the policy got processed late.
This is a very bad experience for me from the Metlife. I already lost around 19k in this policy with investment for more than 3 years. And again on top of that another loss of 800 rupees. So I would suggest not buying any product from Metlife burgers. They are selling all crap insurance products.
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