MAX Life Insurance - A fraudulent company
Dear Master,
I took a personal loan from HDFC through an agent named Gautam. I was in desperate need of this loan, & Gautam knew it.
I'm not very much educated about loans, insurance etc. What he did that he told me to give a separate check of Rs 10,000 in the name of MAX Life Insurance, by saying that it's mandatory by HDFC. Despite my repeated confirmations that I never heard of giving separate check for insurance. I asked him that insurance is included in loan amount & they should deduct from there itself. But he insisted that no HDFC has changed the rule recently. To my stupidity I didn't check it directly with HDFC :-(.
When I receive the policy papers then I saw insurance was adjusted itself within loan amount & I received this Max Policy Gain Plus 20 separately. Then within 3 days of receipt of the policy I emailed Max for cancellation & wrote to Gautam as well for this fraudulent selling. Policy agent is Pallavi Gothana, it seemed that she hired him for this mis-selling to all possible stupid loan customers like me. Now sine Feb 4, 2014, I'm constantly visiting Max branch of Cannought Place & every time they give me new excuse. Below is what I've written to them & what has been followed after my intimation to them:
What kind of company is yours! First your agent (Pallavi Gothana) sold me policy fraudulently through a loan agent (Gautam), knowing that I don't have much knowledge. When I intimated you in written by email for cancellation of the policy, in reply I was told that your representative will call me within 3 days for next steps. After this you wasted my time by almost 10 days not contacting at my no. 9212049110 despite of repeated written reminders. On top of it when I called up, I was informed by your customer care that you are contacting me but at some other no. the other no. was that of the person (Gautam) who sold me this trouble. So from this very beginning you tried to avoid my cancellation. When I was told to submit the paper I did it very next day. After submission I was told to wait for 1 week,...... after 1 week I was told that its been cancelled but will take another 1 week for refund to come into my account......that 1 week has not yet come for you. Every week its 1 week and last week you said that my papers/ file is missing. And I saw in your office that not only mine but many people has same complaint & everybody's file is missing.Now today you foul play again that I didn't fulfil the 15 days clause, then why did you accept my papers at first? Why you wasted 10 days after my written intimation to you? Why I was told that the policy is cancelled but will take some time for refund? Why you're not contacting at my no. .....why your excuses keep on changing! As per policy terms I requested for cancellation well within 15 days of receipt in written. For follow-up, you may refer appended emails. If you want my communication to Gautam then that as well I can provide. I've all the proofs for mis-selling.
Now today a lady called up me again from your cannaught place branch & asked me to visit again tomorrow. If I do not receive any proper resolution then I'll go up further.
So my question is what can I do if they don't refund my money? What's your suggestion? I horrified to see so many people lined up for refund & all cases of mis-selling.... this company has history of frauds when I searched on internet. Beware all readers...
