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Results 1 to 14 of 14

Thread: Fraud by max new york life insurance

  1. #1
    ISOCHANI is offline Junior Member
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    Oct 2009
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    Angry Fraud by max new york life insurance

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    I am a senior citizen of 67 yrs. & a retired lady. I have been cheated by New York life insurance, due to this I am in a state of shock & mentally disturbed.

    I was approached by new York life insurance through their agent Mr. Bhanudutt lala & manager Mr. Mehul dave for their “SMART STEPS PLUS” policy for my grandson aged 7 years.

    They convinced me that this policy is the best policy known as “THE BEST GIFT A PERSON CAN GIVE TO THEIR GRAND CHILDRENS” & it’s possible at an age of 67 years & hence I agreed & paid them a premium of 20000/- with tenure of 20 years through 2 cheques, first cheque of Rs.5000/- bearing no. 655756 DT. 28.02.09 of union bank shahad branch from my account no.32431 & another cheque Of Rs.15000/- bearing no 040484 from my HDFC BANK Ulhasnagar branch account no 194100007193 for policy in my name (for which I provided my pan card & ration card) with nominee as my grandson (for which I provided his birth certificate) & my grandson being a minor my son was supposed to be his guardian (for which I provided his passport).

    After paying premium & confirming that both cheques have passed through my banks I asked them for my payment receipt as I had to claim 80cc benefit & for my policy but I only received excuses from them in return.

    After several verbal request which were not been entertained by them, I complained on their helpdesk at service.helpdesk@newyorklife.com on 26th June 2009 & asked for my policy which I received on 10th July 2009.

    To my surprise the policy no. 729235564 which I received was totally manipulated. The details are hereunder:-

    THE SIGN MADE ON APPLICATION FORMS IN THE NAME OF INDRAJIT SINGH ARE NOT OF MY SON INDERJEET SINGH AS HE HAD NEVER SIGNED ANY DOCUMENT

    1) The payment made & policy promised by your manager Mr.Mehul Dave. & agent Mr. Lala was in my name I.e. SATWANT KAUR OCHANI not INDRAJIT SINGH OCHANI as mentioned in you policy.

    2) Nominee was my daughter-in-law Mrs. SUKHBEER KAUR OCHAN in place of my grandson Mr. SUHEET SINGH OCHANI as promised. Being a child plan how can my daughter-in-law aged 33 years be nominee in place of my grand son SUCHEET SINGH OCHANI aged 7 years? His name doesn’t’ appear anywhere in policy. How can a wife or daughter-in law be nominee in a child plan?

    3) Payment mode is quarterly of Rs.5000/- instead of yearly for Rs.20000/- .

    4) I was never told about surrender charges or other charges like premium allocation charges, fund management charges, e.t.c in fact I was told that I can surrender it after 3 years which is locking period without any charges.

    THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

    I highlighted this through my e-mail to them on 13th July 2009 & since then they have being pressuring me to give an application for cancellation of this policy & apply for a new one.

    On 2nd August 2009 there representatives namely Mr.Jagdish Golani, Mr. Kumar Vishal & Mr. Rajesh Trivedi visited my premises & I showed them the following under mentioned details & was promised by them that they will resolve the matter with 4 to 5 days. I have a copy of minutes of meeting with them.

    1)In their proposal form the nature of proof mentioned is passport whereas the name mentioned in passport is INDERJEET SINGH OCHANI not INDRAJIT SINGH OCHANI.

    2)My son has problem of high blood pressure & dibates & his blood test are regular due to this since last 6 years this is not mentioned in proposal form.

    3)My son has a pan card bearing no. AAIPO0686J since last 5 years whereas they have mentioned applied for in proposal form & income shown is Rs.200000/-. Is it possible a person having income of Rs.200000/- & without pan card.

    4)He had gone to dubai 2 years ago & last year has been to Bangkok & is fond of adventure sports like scuba diving , para glinding , e.t.c this also is not mentioned in proposal form

    5)Nominee mentioned is SUKHBEER KAUR OCHANI according to your proposal form & as per your form it is necessary to attach a valid proof of DOB. Where is the valid proof of DOB? Even here date of birth is not mentioned. Actually the nominee supposed to be was my grandson SUCHEET SINGH OCHANI & his guardian my son INDERJEET SINGH OCHANI hence I had provided them with BIRTH CERTIFICATE of my grandson along with PASSPORT copy of my son.

    6)We have number of policy of L.I.C. in the name of son, daughter-in-law, & grand children’s where as you they have mentioned INSURANCE COVER TAKEN ON FAMILY AS NIL.

    7)And interestingly who is the witness of this policy your AGENT Mr. LALA HIMSELF.

    8)THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

    Actually he himself has filled the proposal form & hence he was not aware of these details & hence they are not mentioned in proposal form.

    On 10th August 2009, I received a mail from their representative Mrs. Ritu Yadav & she told that this policy is for 21-50 years old & hence I am not eligible for this plan hence I should cancel it & though my son is a diabetic person they asked to give a fresh proposal form in this regard & promised to issue a policy to him.

    I refused the same via my e-mail on 2nd Sep 2009 & thereafter I received a call on my cell no 9822056991 from tel. no. 01244239644 on 2nd Sep 2009 from Mrs. Ritu Yadav at 17.29 p.m & was told the same thing. I asked here if the policy was not for me why they took money from me & I have already claimed the 80cc benefit for this policy with income tax for my income tax return of 2008-09.

    I am having financial loss too the nav of this plan on growth balance fund was Rs.19=05 on the day I paid cheque & today its Rs.27=43. The value of per unit has been appreciated by Rs.8=38 as I am a retired person & pension & interest is the only source of my income & moreover the physical & mental trauma I have went through since last 9 months.

    I simply I asked her to either issue me policy as was promised to me or I seek a compensation of Rs.10, 00, 000/- or I will approach consumer court, insurance ombudsman & IrDA in this regard.

    I was told to approach wherever I want to & neither they will issue me policy nor compensate me. Hence I request your honor to look into this matter & help a senior citizen to get justice.

    SATWANT KAUR OCHANI
    9822056991 / 9022090285

  2. #2
    Unregistered Guest

    Post Cheated by Max New York life Insurance

    Hi I am Ujjal ghosh one of the member of MAX NEW YORK. I have been approached by one of the agent MR. Mohan Raju from Chennai Branch for the Policy. As per the Agreement i have paid my all the Two policy amount on Half yearly basis which was in a locking period of 3 years as told by their agent. Now when i am approaching to get my money back neither the agent nor the person are showing interest. I have been told to pay more money as a due pending and will not able to encash the investment. I here by decided to put a case against the company for the fraud. My contact Number is 9940130629.

  3. #3
    Unregistered Guest

    Angry Cheating from Max New York Insurance Company

    I am Soumya from Bangalore. I was approached by one called Ms. Yatindra Devi. Now i try to get in touch with her, she is not available anywhere. Is it not the basic manners and courtesy to inform customers in case there is a change in profile and so on. I pay a premium of Rs.1,311 per month which amounts to Rs.15, 972 annually. When I was approached by the agent, she had told me that I can surrender the policy at the end of 3 yrs and i would get an amount of approximately Rs.48,000. Now when I all the customer care, they confirmed that I'll be getting an amount of Rs.32,000 and odd. What happenned to the rest of the money? They say it is share market related. I have been told to pay more money as a due pending and will not able to encash the amount.

    There is no proof for the entire thing. I can't even fight back for the total amount, as they give all explanations saying they are technical details.

  4. #4
    GNSA Guest

    Default Complaint against max life insurance

    My policy no is 453453532-1659216
    the lady named rajni was my student in jalandhar came with one saying director of max told me to buy policy and told i will get back 80000 in three years .later on one other agent i contacted said the lady has cheated you i am a private teacher i wrk very hard to earn money we bought policy in my husband name he is in bank girdhari lal gupta syndicate bank they said if i pay fo 3 years i will get back 60000 i saidokay even if you give back my money i will feel okay i completed 3 years here i met with rohit one executive he said they will give back my total money bac when i complete 3 years now i have completed 3 years they say they will cut 20000 agent is given money from my account i am totally instate of shock how com they cheat like this i am mentally tortured they even not talk politiely they speak as i am asking of them check the things please check such fraud agentsand companies it is not money it is my hard earning we give up so many things to save money we are not multimillionare help me to get back my money i dont want ay extra money give back my hard earned money i am so depressed how can they cheat like this helppppppppppppppp

  5. #5
    swadesh.icici Guest

    Angry Max New York Co. not pay my salary.

    Sir.
    Respected. Sir,

    I The undersign Mr. Swapnil Deshmukh From Akola (Maharastra) I join in Max New York in 23/08/2011. But till i am not Recv. My Salary of month of Sep. 11. At Sep. 11 i Generate the business of rs 15000/- . from bank leads. when i going to interview at PCB Akola the interviewer tell me that you are responsible the lead which is generated from the Branch Manager of Hingoli Peoples Co- Op Bank Br. Akola. After that Mr. Manish Sharma was Prsher. me to generate the business from your natural market. i cant do this becose i strongly say to my interview i cant generate the business from my natural market.Then still i bear the Prsher which is unbearable for me. Then Mr. Manish sharma preshrised me to write a letter witch is mentioned "this is my negligence in service if this is cont. Manish sir take any action against me". this is a simple letter not a registered bond paper. Then At 17/10/11 I send my Resignation Letter to Mr. Manish sharma witch is attached With this mail. But after 18/10/11 Manish Sharma is not Rev. my any phone call i have a record of of my cell. when i call to gurgaon at 0124/ 4219090 Still i have no any proper reply. The HR Department Ask me for my Emp. ID. but till Mr. Manish Sharma is not Recv. my Any call. so please help me for the same.


    Regards
    Swapnil Deshmukh
    Akola
    Mbl. No.7385705400
    swadesh.icici@gmail.com

  6. #6
    sekhar.861 is offline Junior Member
    Join Date
    Nov 2011
    Posts
    3

    Default

    HI,
    I am sekhar from banglore. I have taken 2 annual policys 2 years back each 10,000 ,policy numbers are 621172915 and 621172907 . (on 05/10/2009 ). plan name is "Max Amsure Secure Returns Builder ULIP - Level - Simplified - New" . I have taken these policys as per agent (my relative ) suggetion.
    I have paid 20,000 for 2 policys as initial payment and i got policy documents . for the next annual installment i have paid around 4 months late (on 28/01/2011).
    That is my fault that i forgot to pay on correct time . Even i have not got any notification for payment from my agent or from max newyork .
    After paying the next/second annual installment (on 28/01/2011) , i have checked in max new york site , i am seeing around RS 17,000 for the 2 policys.
    But actually i have paid initially 20,000 for 2 policys and again i paid 20,000 as second annual installment. Total i paid 40,000 but iam seeing around 17,000 for 2 policys .
    I have asked same thing to my agent , he told as the plan is ULIP plan ,initially you will see less money only . He told after 3 years locking period you will see full amount .
    As this is ahuge difference i thought to stop paying next/third premium (which is on 09/10/2011) and also tried to contact agent to withdraw money .
    He is not responded in correct time/also iam busy with my office work , finally last week i asked my agent to help me in withdrawing money .
    Now the agent is telling that i wont get any money as my policy was surrended since i have not paid my recent annual payment(third ) on time (which is on 09/10/2011 ) .
    Even iam seeing fund value is Rs 0 and status as "Policy Surrendered" .
    If the agent tells the correct information before when i asked first time , i should pay the third annual payment on correct time and i should avoid this situation .
    THis rule is strange to me .for my other SBI mutual fund i have paid only initial 1 year installemt , i have not paid 2 and 3 rd year installment. Still iam received my money after 3 years lock period. But max newyork rules are different.
    As the agent is my relative i blindly belived him . Now he is telling that i wont get any money . But till now i have pain RS 40,000 .
    When iam trying to call customer care for max newyork , nobody is lifting the call . many times i tried
    Can any one help me to get my money back ? Please send mail to sekhar.861@gmail.com or call to 9686600919
    PLEASE DONT INVEST MONEY ON MAX NEWYORK , RULES ARE DIFFERENT IN MAX NEWYORK

  7. #7
    MNYL is offline Member
    Join Date
    Sep 2010
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    35

    Default

    "Thank you for writing to us. We have been trying to get in touch with you on the number provided below, however the phone has been ringing unanswered. Would request you to please mail us your employee id and alternate contact numbers at care@maxnewyorklife.com and we would get in touch with you immediately to try and resolve your query.

  8. #8
    genmed is offline Junior Member
    Join Date
    Jan 2012
    Posts
    1

    Post cheated by max new york life.

    Quote Originally Posted by MNYL View Post
    "Thank you for writing to us. We have been trying to get in touch with you on the number provided below, however the phone has been ringing unanswered. Would request you to please mail us your employee id and alternate contact numbers at care@maxnewyorklife.com and we would get in touch with you immediately to try and resolve your query.
    dear sir,
    i am a policy holder of maxnewyork life from 2008.
    i have taken 2 policies from MNYL for me and my son.

    policy numbers are
    457613594 and 457613602
    product name is pension plan.

    i have paid 3 lakhs per policy totally 6 lakhs.

    i am not interesting to surrender my both policies.
    but they themself terminate my both policies and return back of 2 no of cheques which are having the following amounts without my knowledge 114236.34 and 112655.25

    i have write more and more letter to mnyl.
    but they have not accept my request and they have cheating my amounts.


    if they have not reply me properly and return back my amount and the compensation for my issues also.

    otherwise i will go to meet ombudsman and legal for court.

    i am from very interior village of tamilnadu,
    kindly return back my amount without cheating...


    thanks

    thulasiram.tks and t.balasubramaniyan
    hosur

  9. #9
    devsem is offline Junior Member
    Join Date
    Mar 2012
    Posts
    2

    Default

    Hi,

    I am having same problem in Amsure Max New York Life Insurance plan. My father is senior citizen and he took 3 policies after their retirement one for himself and another to for me (Son) and for daughter.

    We was wrongly illustrated by Amsure agent and he told us this is a secure return builder plan and you'll get high returns. But, as soon as we completed 2 years we complaint to MAX NEW YORK office by seeing less fund value, and we urge them to discontinue our insurance policies because of agent wrongly described policy. But, they told us to continue for 3 years and then after you can surrender it. So, we continued it upto 3 years and contacted that agent, and assured us that we will get good returns after 3 years. But, as soon as 3 years completed we are in a huge loss... and complaint again to Max New York Life Insurance but they still not giving us proper answers.

    Will anybody help us out to short out this issue? We are middle class family and not afford this kind of huge loss.

    Please I request you all if anybody having any kind of solution then let me know.

    Thanks & Regards
    David

  10. #10
    bgumansingh is offline Junior Member
    Join Date
    Sep 2011
    Posts
    1

    Default

    Dear Sir,
    With due respect and humble submission I beg to state that I am an Agent of Max New York Life Insurance Company Limited,Branch:Bhubaneswar-2 (GO) and my agent code is 415549. I had given the company 02 no’s of Life Policy which is enforce by the company. As per company rule my commission is Rs.7999.30p which is not credited to my Axis Bank Account No. 911010029929584 but the commission amount credited to another bank(ICICI) account which is not mine and I never give any Electronic Fund Transfer Form of ICICI bank rather I gave my Axis Bank Electronic Fund Transfer Form.

    I came to know from a reliable source that a forgery signature of mine is made on ICICI Bank EFT's Form to withdraw the commission amount. I severally send mail and communicate over telephone to Max New York Life Insurance Company Limited, GO,Bhubaneswar-2 and Head Office regarding this matter from September 2011, but they do not take necessary steps.


    Sir I am from a below Middle Class family, the only bread earner for my family. I am married with a son and for this profession, I availed a Gold Loan (by give the bank my wife's ornament) from Neelanchal Gramya Bank,Ruchika Market, Bhubaneswar on April 2011,which I could not be close due to my poor financial condition. And the Gold Loan reached an amount of Rs.9000/-(with compound interest). I send mail (copy attached) to the company several time but they did not help me to give my money back. Now I am psychologically harassed due to this type of behavior of the company for one year. They forced me to accept that the ICICI bank Electronic Fund Transfer Form is duly filled by me which is totally false as per my belief.
    While I requested in my GO, Bhubaneswar-2 to provide a photocopy of that ICICI bank’s Electronic Transfer Fund Form so that I can ensure where is the fault but they did not cooperate with me. Sir, I request you to order the company to send me a photocopy of that ICICI Bank’s Electronic Transfer Fund Form and all other documents signed by me during my Agent recruitment Period and I assured you that whatever the amount, will be bear from my side for this entire process i.e. photocopies, investigation by IRDA etc.
    Therefore I request you to kindly help me to investigate the matter and reimbursed my commission, so that I can take back my wife's ornament from the Neelanchal Gramya Bank.

    Yours Faithfully,


    Babashri Gumanasingh
    E/108, Baramunda Housing Board Colony,
    Bhubaneswar-751003
    Odisha
    Ph:09776354226

    Email id: bgumansingh@gmail.com

  11. #11
    Unregistered Guest

    Default

    [QUOTE=bgumansingh;213947]Dear Sir,
    With due respect and humble submission I beg to state that I am an Agent of Max New York Life Insurance Company Limited,Branch:Bhubaneswar-2 (GO) and my agent code is 415549. I had given the company 02 no’s of Life Policy which is enforce by the company. As per company rule my commission is Rs.7999.30p which is not credited to my Axis Bank Account No. 911010029929584 but the commission amount credited to another bank(ICICI) account which is not mine and I never give any Electronic Fund Transfer Form of ICICI bank rather I gave my Axis Bank Electronic Fund Transfer Form.

    I came to know from a reliable source that a forgery signature of mine is made on ICICI Bank EFT's Form to withdraw the commission amount. I severally send mail and communicate over telephone to Max New York Life Insurance Company Limited, GO,Bhubaneswar-2 and Head Office regarding this matter from September 2011, but they do not take necessary steps.


    Sir I am from a below Middle Class family, the only bread earner for my family. I am married with a son and for this profession, I availed a Gold Loan (by give the bank my wife's ornament) from Neelanchal Gramya Bank,Ruchika Market, Bhubaneswar on April 2011,which I could not be close due to my poor financial condition. And the Gold Loan reached an amount of Rs.9000/-(with compound interest). I send mail (copy attached) to the company several time but they did not help me to give my money back. Now I am psychologically harassed due to this type of behavior of the company for one year. They forced me to accept that the ICICI bank Electronic Fund Transfer Form is duly filled by me which is totally false as per my belief.
    While I requested in my GO, Bhubaneswar-2 to provide a photocopy of that ICICI bank’s Electronic Transfer Fund Form so that I can ensure where is the fault but they did not cooperate with me. Sir, I request you to order the company to send me a photocopy of that ICICI Bank’s Electronic Transfer Fund Form and all other documents signed by me during my Agent recruitment Period and I assured you that whatever the amount, will be bear from my side for this entire process i.e. photocopies, investigation by IRDA etc.
    Therefore I request you to kindly help me to investigate the matter and reimbursed my commission, so that I can take back my wife's ornament from the Neelanchal Gramya Bank.

    Yours Faithfully,


    Babashri Gumanasingh
    E/108, Baramunda Housing Board Colony,
    Bhubaneswar-751003
    Odisha
    Ph:09776354226

    Email id: bgumansingh@gmail.com[/QUOTmmmm

    hhhh

  12. #12
    Unregistered Guest

    Default Max Newyork Life insurance pethatic policies

    I have taken Max New york Life insurance ULIP Plan in 2008, Agent told that in annual premium of Rs.20,000 for 3 years, at the end of six year you will get double matured amount, now after 3 years completed they are telling that you had to deposit 2 more premiums, that means total of 5 premiums that is Rs.100,000 then only you will receive the double amount.

    If you will surrender now, after deduction of service charge and taxes you willl receive around Rs.40,000 to 45,000.

    If they are giving the figure of less that total premium amount this time then how they promised that I will recieve double amount after completing 6th year.

    They are cheating people like anything and also its having tie with Yes Bank, the Bank's Sales executive also dont have proper knowledge about the policies and they are promising any thing to the customers to grab the money from them.

    Please dont invest your hard earned money in Max newyork Life Insurance.

    Manju K

  13. #13
    144984 Guest

    Default Commission not been credited from November 2011 to July 2012

    Sir/Madam,
    My name is Billapati Sunil. My Agent Code is 144984. I have been working as an Agent Advisor in Max New York Life Insurance Company in Visakhapatnam Branch for 6 years. This is the first time that my commission has not been credited in my account for 9 months. Since from November 2011 to July 2012. This is the first time i have not given the business to the company. But in every GO meet what my Branch Manage and my Sales Manager told regarding that after 5 years if u don't give the business to the company u will get the renewal commission. By telling all these information in the meeting and now doing these mischevious things with the agents. So, sorry for that. If you won't release my commission by the end of this months i have to take serious action against the company and don't insist me to put the case against the company. If the company release my commission for 9months I assure u i shall give the business to the company.

    Thanks
    Billapati Sunil
    Agent Code 144984.
    Max New York Life Insurance Company Limited.

  14. #14
    MNYL is offline Member
    Join Date
    Sep 2010
    Posts
    35

    Default Response From Max Life Insurance

    Dear Mr. Sunil,

    Greetings from Max New York Life!

    As per the details shared with you via letter at your mailing address, we hope that your query stands resolved.

    Incase you require any other assistance from us please feel free to write to us at care@maxnewyorklife.com

    Regards,
    Max NewYorkLife Insurance

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