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Thread: Kotal super advantage plan (fraud with customer)

  1. #1
    manoj.maurya321 is offline Junior Member
    Join Date
    Mar 2012
    Posts
    1

    Default Kotal super advantage plan (fraud with customer)

    Hi,

    I am Manoj Kumar, holding a kotak mahindra super advantage plan (Policy No. 2059584), Every year i am paying 24,000/- as premium amount. I am paying the premium from last june 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 24,000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 24,000/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harrasing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.

    Thanks
    Manoj Kumar

  2. #2
    SANDEEP KANCHARLA Guest

    Default Kotal super advantage plan (fraud with customer)

    Hi,

    I am Sandeep, holding a kotak mahindra super advantage plan (Policy No. 01891968), Every year i am paying 20,400/- as premium amount. I am paying the premium from last Feb 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 20,400/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 20,400/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back...

    Thanks
    Sandeep Kancharla .

  3. #3
    Kotak Support is offline Senior Member
    Join Date
    Oct 2010
    Posts
    439

    Default

    Quote Originally Posted by SANDEEP KANCHARLA View Post
    Hi,

    I am Sandeep, holding a kotak mahindra super advantage plan (Policy No. 01891968), Every year i am paying 20,400/- as premium amount. I am paying the premium from last Feb 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 20,400/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 20,400/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back...

    Thanks
    Sandeep Kancharla .

    Dear Sir,

    We regret to note that your experience has not been commensurate with what we strive to provide.

    Please accept our sincere apologies for the inconvenience caused.

    We request you to kindly write to kli.grievance@kotak.com along with your policy and contact details.

    On receipt of the same, our grievance officer would be glad to assist you.

    Regards,


    Kotak Support Team

  4. #4
    Kumaresan Guest

    Default Kotal super advantage plan (fraud with customer)

    I am kumaresan M, holding a kotak mahindra super advantage plan (Policy No. 02013416 ), Every year i am paying 24,000/- as premium amount. I am paying the premium from last Aug 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 24,000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 24,000/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harrasing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.


    Regards
    kumaresan M

  5. #5
    Kotak Support is offline Senior Member
    Join Date
    Oct 2010
    Posts
    439

    Default

    Quote Originally Posted by Kumaresan View Post
    I am kumaresan M, holding a kotak mahindra super advantage plan (Policy No. 02013416 ), Every year i am paying 24,000/- as premium amount. I am paying the premium from last Aug 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 24,000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 24,000/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harrasing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.


    Regards
    kumaresan M

    Dear Sir,


    We regret to note that your experience has not been commensurate with what we strive to provide.


    Write to kli.grievance@kotak.com along with your policy number and complaint details and we will be glad to assist you.

    Regards,

    Kotak Support Team

  6. #6
    Unregistered Guest

    Default kotak super advantage fraud

    Hi,

    I am jitendra singh, holding a kotak mahindra super advantage plan , Every year i am paying 50,000/- as premium amount. I am paying the premium from last june 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 50,000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 50,000/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harrasing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.

    Thanks
    Manoj Kumar

  7. #7
    Unregistered Guest

    Default The Kotak grievance team will never ever reply

    Hi,
    I tried from my email id "rajenbala24@gmail.com" but The Kotak Grievance team will never ever reply.Even after scolding them with bad words those people will never ever reply.The grievance team members also get a share.

    Thanks
    Balaji R


    Quote Originally Posted by Kotak Support View Post
    Dear Sir,


    We regret to note that your experience has not been commensurate with what we strive to provide.


    Write to kli.grievance@kotak.com along with your policy number and complaint details and we will be glad to assist you.

    Regards,

    Kotak Support Team

  8. #8
    zxc Guest

    Post kotak

    these guys fooled me also. i wil surely mail them .

  9. #9
    Kotak Support is offline Senior Member
    Join Date
    Oct 2010
    Posts
    439

    Default

    Quote Originally Posted by Kumaresan View Post
    I am kumaresan M, holding a kotak mahindra super advantage plan (Policy No. 02013416 ), Every year i am paying 24,000/- as premium amount. I am paying the premium from last Aug 2010

    when i have taken the policy, the telephone executive told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 24,000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 24,000/-and they are cutting 4% extra too. It is absolutely cheating by kotak company now I would suggest to everyone never have any policy from this fraudy company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harrasing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.


    Regards
    kumaresan M



    Dear Customer,

    We understand your concern in accordance to charges deducted from your policy.

    We request you to kindly write to clientservicedesk@kotak.com along with your policy number and exact concern to assist you better.


    Regards,
    Kotak Support Team

  10. #10
    Unregistered Guest

    Default Kotak super avantage - fraud policy

    Dear sir,

    I am Rajesh E, holding a kotak Mahindra super advantage plan (UIN- 107L058V01), policy No:01955450 @ KL1S – KOLLAM BRANCH (KERALA), I am paying Rs. 100000 Every year & I have completed 3 years premium till, ie, Rs. 300000.00 (3 lakhs)

    when i have taken the policy, the sales executive & corresponding sales manager shared the information that, this is a special policy. It is allotted only for few couples, and commission & service charges are not applicable for the selected couples, including me.I have been told that just pay for 3 years. Later i can close the policy and also they have assured a minimum profit margin of 35%. But when i called up your office at Cochin (0484-6605000), the executive is telling that i will not get 1st year premium amount of Rs.100000 & she was telling some new stupid story that this amount of Rs. 1 lakh is not deposited in the market & still with kotak .After that I have called up Secure Investment, who collected the premium amount for all these 3 years (mobile No:095390 76613) this man also saying the same story. Now I feel that I am in a trap. They all cheated me
    Even i asked some more information like can i stop paying after 3 years, then the person is telling that you can stop after 3 years. but they will deduct some charges from my existing fund value and saying that it is indirectly mentioned in the agreement. Your manager, who convinced me to take this policy, hide this fact from me.
    So, please return my whole money back & if not I will lodge a complaint against the manager & the company. I don’t want any profit/interest-you take it.

  11. #11
    Unregistered Guest

    Default Fraud by Kotak Life Insurance Super Advantage policy seller

    Hi, All above seem to be absolutely true. it's exactly the same case with me when I signed policy papers with the Kotak direct empoyee in Dec 2009. He told me exactly the same thing that I can withdraw my amount after 3 years and did not mention anything related to not being able to withdraw first premium.

    This is gross cheating.

    EVERYONE... PLS PLS PLS.. DO NOT DEAL WITH KOTAK... OR IF YOU HAVE DEAL WITH THEM.. THEN READ THE WHOLE DOCUMENT... BUT STILL YOU NEVER KNOW AS A LAYMAN... ...

    I am paying Rs,30,000 as premium annually and don't know what all they will deduct. I call the customer care and their systems are always under upgrade and they are not able to give me any information except for to call next day when the systems are up...

    On top of that.. my fund value is also the same as the amount of premium paid, except for the first premium. so no gain in that as well rather loss of 1st year premium...

    Everytime I think of Kotak... I feel like ....... they trapped me and that too happened at the hands of a direct company employee...

  12. #12
    Kotak Support is offline Senior Member
    Join Date
    Oct 2010
    Posts
    439

    Default

    Quote Originally Posted by Unregistered View Post
    Hi, All above seem to be absolutely true. it's exactly the same case with me when I signed policy papers with the Kotak direct empoyee in Dec 2009. He told me exactly the same thing that I can withdraw my amount after 3 years and did not mention anything related to not being able to withdraw first premium.

    This is gross cheating.

    EVERYONE... PLS PLS PLS.. DO NOT DEAL WITH KOTAK... OR IF YOU HAVE DEAL WITH THEM.. THEN READ THE WHOLE DOCUMENT... BUT STILL YOU NEVER KNOW AS A LAYMAN... ...

    I am paying Rs,30,000 as premium annually and don't know what all they will deduct. I call the customer care and their systems are always under upgrade and they are not able to give me any information except for to call next day when the systems are up...

    On top of that.. my fund value is also the same as the amount of premium paid, except for the first premium. so no gain in that as well rather loss of 1st year premium...

    Everytime I think of Kotak... I feel like ....... they trapped me and that too happened at the hands of a direct company employee...

    Dear Sir,

    We have noted your concerns. We request you to write us on clientservicedesk@kotak.com ID along with policy no. for better assistance.

    Regards,
    Kotak Support Team

  13. #13
    Unregistered Guest

    Angry Kotal super advantage plan- fraud with customer

    Hi,

    I am Navin kumar singh, holding two kotak mahindra super advantage plan, Every year i am paying 100000/- as premium amount. I am paying the premium from last may 2010

    when i have taken the policy, the executive officer told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 100000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 100000/- and they are cutting 4% extra too. It is absolutely cheating by kotak life insurance company now I would suggest to everyone never have any policy from this fraud company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive & Sales executive officer ( Dipti alkar Thane Branch- maharastra ) is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harassing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.

    Regards,
    Navin kumar singh
    Call 9076846400
    Email- navinkumar005@hotmail.com

  14. #14
    Unregistered Guest

    Angry kotak super advantage fraud & these guys are mentally harassing the people.

    Hi,

    I am Navin kumar singh, holding two kotak mahindra super advantage plan, Every year i am paying 100000/- as premium amount. I am paying the premium from last may 2010

    when i have taken the policy, the executive officer told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 100000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 100000/- and they are cutting 4% extra too. It is absolutely cheating by kotak life insurance company now I would suggest to everyone never have any policy from this fraud company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive & Sales executive officer ( Dipti alkar Thane Branch- maharastra ) is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harassing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.

    Regards,
    Navin kumar singh
    Call 9076846400
    Email- navinkumar005@hotmail.com

  15. #15
    Unregistered Guest

    Angry kotak super advantage fraud & these guys are mentally harassing the people.

    Hi,

    I am Navin kumar singh, holding two kotak mahindra super advantage plan, Every year i am paying 100000/- as premium amount. I am paying the premium from last may 2010

    when i have taken the policy, the executive officer told me that just pay for 3 years. Later i can close the policy and after 3 years I will got 200 % of first year premium. But after sometime when I called to customer care, the customer care executive told me that i will not get 1st year premium amount. It means i will not get 100000/- rupees. Even they are not telling me when I m ending my policy then why they are not giving my 100000/- and they are cutting 4% extra too. It is absolutely cheating by kotak life insurance company now I would suggest to everyone never have any policy from this fraud company……..

    I will get my money only if i pay up to 20 years. This is ridiculous. The customer care executive & Sales executive officer ( Dipti alkar Thane Branch- maharastra ) is telling that it's indirectly mentioned in the agreement. How could a normal guy knows all these things before??? Now i just need my money back... i don't want any profit.

    My sincere to request to all the guys who are taking the policies is, these guys are mentally harassing the people.
    please take some action on these insurance companies and their executives too those are misguiding people and playing their hard earning money.

    Regards,
    Navin kumar singh
    Call 9076846400
    Email- navinkumar005@hotmail.com

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