Originally Posted by udai67

Dear Sir,

I had post this complaint through an unregistered guest few days back. Now I am a valid user of your site.

I applied for a policy of Kotak mahindra life insurance 0n 31 march 2010 and paid cash Rs. 15000.00 towards first premium vide receipt no. 15646419 dated 31/03/2010.

Till the date I did not received my policy bond or any document from the same authority.

after several (more than 50) reminders and follow up with the branch staff, Company has not taken any action and not delivered Policy Bond to my address. They never bothered to give me a call at least. even I personally visited the branch number of time for lodging the complaint against the same.

I am fade-up with the fake service of Kotak Mahindra and I decided to withdraw/ surrender my policy.But the official said that they don't know where is the policy bond either in transit or in the office. They ask me to give few days to find out the said bond and then only i can surrender the policy. also they said there is no condition that you surrender your policy.

I am still waiting for their response but neither they contact me nor mail me regarding this issue. During the period of 11 month they are not bothered to call me or contact me on this issues.

I send number of mails to the IRDA but I did not receive any response which can satisfy me to get my money back.
The details are given below:

Proposer Name : Rama Sharma
Proposal No. : 01957320
Amount : Rs. 15000.00
Mode : Cash
Branch code : BL3S
Voucher No. : 15646419
Voucher date : 31/03/2010
User Id : OM22886
Complain Id : 02204060.

After lodging this complaint to you I received a call from Kotak on 25th Feb and they sent me a format regarding issue of a duplicate bond. They still making me fraud weather I am not interested to get my duplicate police bond and why should I go for that.

Kotak Mahindra Life Insurance has not responded for a period of one year while I was keep touching with them and now they are doing like Dictator.

I want my money any how ASAP and also want to claim on behalf of my harassment.

Dear Mr. Sharma

We have reviewed your case and based on the same we are cancelling P# 01957320 as a service gesture.

We will communicate on the documents required through a call.

Our Customer care team will call you and explain the procedure for the same. In the interim, should you have any queries, you may write to us at kli.grievance@kotak.com or contact our Client Service Desk on 1800 209 8800 (Toll Free).

Regards, Kotak Support Team

Yes! Mr. Sharma, Is right and seems Kotak-Mahindra Involved in Fraud business ethics, I also came in knowledge, when I saw my policy status, definitely, You have stolen my some good amount because now policy status i.e. Policy No# 00786848 are showing Zero balance, however I had invested 100,000 Rs, can You tell me where is my money?
2nd policy which I had deposit amount 50,000 in last year (total 3 installment i.e 150,000 Rs), till now, amount is not showing anywhere, means Zero value of my invested amount.
3rd policy which I had deposited 200,000 rs, value is only 165,000 rs, so Now my investment value 165,000 rs, however I deposited 450,000 rs with Kotak Mahindra Policy, You are all scammer, should we tell to Home Ministry about this fraud business practice By your management? How much money you paid to agent for doing this fraud business? I need your urgent response, I sent you 2 times email, but already more than 24 hrs has been passed but no response!!

Dear Sir,
Kotak-Mahindra insurance company Involved in Fraud business ethics, I also came in knowledge , when I saw my policy status, definitely, they have stolen my some good amount because my policy status i.e. Policy No# 00786848 are showing Zero balance, however I had invested 100,000 Rs, can You tell me where is my money?
2nd policy, policy No 00840141, which I had deposit amount 50,000 in last year (total 3 installment i.e 150,000 Rs), till now, amount is not showing anywhere, means Zero value of my invested amount.
3rd policy which I had deposited 200,000 rs, value is just showing balance 165,000 rs, so Now my investment value 165,000 rs, however I deposited 450,000 rs with Kotak Mahindra Policy,

Its behaviors like a scammer, should we tell to Home Ministry about this fraud business practice By your management? How much money you paid to agent for doing this fraud business? I need your urgent response, I sent you 2 times email, but already more than 24 hrs has been passed but no response!!
As Mr. Sharma said, no employee or staff is calling us or never they update us about any policy status, they just took our money and modifying the value till it shown total zero!!

This is Scam, Pure scam in India!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Originally Posted by SKP-WLC

Dear Sir,
Kotak-Mahindra insurance company Involved in Fraud business ethics, I also came in knowledge , when I saw my policy status, definitely, they have stolen my some good amount because my policy status i.e. Policy No# 00786848 are showing Zero balance, however I had invested 100,000 Rs, can You tell me where is my money?
2nd policy, policy No 00840141, which I had deposit amount 50,000 in last year (total 3 installment i.e 150,000 Rs), till now, amount is not showing anywhere, means Zero value of my invested amount.
3rd policy which I had deposited 200,000 rs, value is just showing balance 165,000 rs, so Now my investment value 165,000 rs, however I deposited 450,000 rs with Kotak Mahindra Policy,

Its behaviors like a scammer, should we tell to Home Ministry about this fraud business practice By your management? How much money you paid to agent for doing this fraud business? I need your urgent response, I sent you 2 times email, but already more than 24 hrs has been passed but no response!!
As Mr. Sharma said, no employee or staff is calling us or never they update us about any policy status, they just took our money and modifying the value till it shown total zero!!

This is Scam, Pure scam in India!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Dear Mr. Pandey,

At the outset, please accept our apologies for the aberration in our service standards that you have faced.

We are checking on your issue on priority and we will coordinate with you on the same on your registered mobile number available in our records.

Regards, Kotak Support team

what will you check Sir, I just got a simple email response from one of your team member | when you know that I'm living aboard then why you never contact us before about my policy update like lapse etc? In India, no one has knowledge about any policy. how can easily you swallow my whole investment?? after 5 years when I tried to call several time to your toll free number , but number is not working from Aboard, and finally, I took the help of online account and I'm shocked to see that You totally manipulate my 450,000 Rs fund value into 165,000 Rs amount, this is not a scam, then what you think?? did mr. uday Kotak is also involved in this scam? he is filling his pocket by doing such type of fraud, I'm not sure if he have full information, what is going on in Kotak Mahindra?? You're all harassing and looting innocent investor, writing this short note what you want to show here..?
below is email from your team member~

***********
Dear Mr. Pandey,

Thank you for writing to us.

Reference to your following mail, we would like to inform you that your policy has been foreclosed in our records as the same is not revived within 2 years of revival period.

We have not received any request to revive the policy in the 2 years of revival period.

The policy has been foreclosed without any refund as the policy does not acquire any surrender value.

For further queries please feel free to write to us or contact our Client Service Desk on 1800-209-8800.
Warm Regards,

Hi Guys, I thought Kotak Mahindra is a reputable company and I shown trust in this company, but they breached my trust and phished my decent hard earning amount, and now they are trying to squeeze my all money.
I think they are ruining lot of investors and doing regular fraud, I will put this knowledge to CBI office in written complaint so everyone know what is happening in this company!!.
below is email copy!! 5 years has been passed but my investment value is 1/2, they have fraud staff, who changed within 1 month, very bad company!!!
From: Sales
Sent: Tuesday, March 13, 2012 5:10 PM
To: Shruthi Iyer (Central Ops, KLI)
Subject: RE: Blog complaint for policies - 00786848,00840141 and 00904492

As what I believed, last time when I called you to your office number then you had given assurance to help in this matter, but what has happen why you suddenly changed, our all issue remains pending as usual.
Concern No2, why Kotak Mahindra mutual fund (NAV price) are not rising? How you all claim for better refund to investors, even it’s a 5 years and still I am not able to see my principal value, as an Investor, I have right to know all these happening and spread this news all over the internet.

Thanks and regards
Suunil Kumar.



From: Sales
Sent: Tuesday, March 13, 2012 6:23 PM
To: 'Shruthi Iyer (Central Ops, KLI)'
Subject: RE: Blog complaint for policies - 00786848,00840141 and 00904492
Importance: High

Dear Ms. Shruthi,

Please confirm, if you have received the policy check which we send one week before to your office addresses.
Regarding the lapsed policy of 100,000 Rs, which is not a small amount, please reconsider it with Management, we don’t want to spread panic information against investor through local newspaper and media channels.

If in anyhow your Management is not agreed then we definitely need a written letter signed by CEO or behalf of any executive to not refund nor renew.

Thanks and regards
Suunil Kumar.

Tata AIG - Fraud by company delegated broker
Hi, I received a call from a delhi based landline number during Nov'2011 and person calling introduced himself as an officer from Tata AIG branch office in New Delhi.I was informed that company has introduced a one time special offer to their elite members by offering them a one time bonus of approx 80,000 to 90,000 depending upon some calculation at time of disbursement. He told me that if I pay my next premium in advance then I will be entitled for this bonus amount, he said it is confirmed and not subject to any lottery draw. I paid them 45000.00 INR as my yearly premium and when I received the premium receipt I didn't check it correctly. Later I received policy lapse notice during Mar'2012 as my premium payment date was end of Feb'2012. I was taken by surprise when I saw that this broker -NETAMBIT INSURANCE BROKING INDIA LTD (004475448) had sold me a new policy altogether. I called their customer care and I got a very vague reponse. I am willing to put a complaint in consumer court because the policy documents of new one have my duplicate signatures and I will sue them for damages,
Please advise as to what should I do in this case.

Regards
Kapil