Dear Team, Greetings! I solicit your help regarding Max Life insurance ltd. I purchased a policy in 2008 bearing policy number 495755977. The policy was a 3 pay plan and the premium was of Rs. 50,000 P.A. and the sum assured on maturity which the company was liable to pay me in any case was 2.5 Lacs after 5 years. However recently my policy got matured and after paying Rs.1,50,000(50K*3), I have just received around 1,57,889.90. I have lodged many complaints with the company but the company is not ready to listen to my complaints. Moreover the officials aren’t even aware about the policy terms as they say Max has never introduced a 3 pay plan. I have all the documents with me which state that the ‘SUM assured is Rs.2,50,000 in the event of Maturity.’ This was communicated to me by the then Sales Manager, Sunaina Kaul and agent adviser Neelam Kapoor. Even agent adviser is also shocked on the amount i have received. She is still agreeing to the same fact. Moreover, just think as a layman, why would a person block a sum of Rs. 1,50,000 for five years to just receive additional Rs.7889.90, I believe i could have made much more by keeping the same amount as an FD. The Fund name is: “Growth Fund- Pr Driven- ULIF00125/06/04LIFEGROWTH104” while the policy name is “Life Invest Unit Linked Investment 3 Pay Plan”

The complete amount that was agreed upon at the time of selling the policy i.e the assured amount of Rs. 2,50,000/-

Complainant Information
name- meenubhatia