Sir,
My mother had taken a retirement plan from Kotak Mahindra Life insurance company with a term of 5 years and an annual premium of about Rs.10,000.
On maturity of the plan they gave us 1/3rd of the amount and the rest 2/3rd of the annuity was returned back with a chq. in favour of SBI Life insurance company asking us to buy pension plan from them. Now, SBI Life insurance is refusing to give her a policy as her age is above 60 yrs. so, we went back to the Kotak Mahindra Life insurance company and they are refusing to do any thing about the money that they have. Simply saying that they can't offer any pension as they don't have any plan at this stage under the IRDA guidelines. then....
1. why have the sold a policy under that name as and if they were not authorized to pay full benefits of the policy.

please help me in bringing my money back for them....

Thanks
Gagandeep Gupta

Hello,

Kindly post your complaint in detailed manner so that we can guide you accordingly.