Originally Posted by Puneet Aggarwal

Summary of the problem.
I was approached by Kotak guys (Sanjay and Akash from Naraina, New Delhi) for buying the policy with false promises. They mentioned,
That if we pay 2000/- for 36 months with total money of 2000 x 36 = 72,000 I will be benefitted with 1,32,000/- by the end of 3 years and the amount will be credited to my account with 72 hrs of completion of 3 years.
However the policy document later received didn’t hold any such promises and we later found to be fooled.
I along with my sister, Navita Aggarwal, who bought the same policy, we went for the cancellation in couple of days of getting the documents.
Later, I got a call from Mumbai and I confirmed for the same.

Now those guys re-approached us and made new excuses that their job may go for a toss in case we don’t take back the policy.
In that case I asked them to write the letter mentioning I may go for continuation of the policy if there is Job is safe, however, "I am not convinced with the policy". This time I again found that they cheated on me.
They also mentioned to me that a call from Mumbai will again come to me and I can opt for cancellation or continuation, then.
This time I didn’t got any call from Mumbai Kotak office.

I have been following for the cancellation of the policy by making calls to the customer care.
4 times called.
1. Didn’t remember the date
2. 13th September 2010
3. 16th September 2010
4. 21st September 2010.
You may confirm all my words in the log taken care by Customer care and other things.

My overall interest reside in cancellation of the policy and full refund of my initial amount of 4000/- to me.
I won’t be at all be continuing this policy and would appreciate, if Kotak helps me in taking right steps in the same regards.
I can provide you with the mobile number of my sister and her policy number as well for you to track the authenticity of my words.
I have also courriered to Kotak mahindra Office using DTDC courier No. Z21766548 dated 15/10/2010 (15th Oct. 2010). The courier contained the reciept of freelook cancellaion and also my application for the refund for the same. (i.e. Amount Rs. 4000). Its been over 30 days now and till now I have not recieved any intimation regarding the same.

Kindly let me know the required action regarding the same.
I have incurred a bad reputation about Kotak Mahindra Life insurance and even after repeated calls/mail and courrier they have not responded correctly.

Lately my total number of e-mails done has been near to 50, call to customer care has been atleast 25.
Courier as I have mentioned in my complains above and visit to kotak mahindra insuarance office at noida sector -18.

I have proof of each of my statement above.
Thanks
Puneet.
#9717790476

Dear Mr. Aggarwal,

This is with reference to your Policy# 02103089; we hereby acknowledge the receipt of documents for cancellation.

We had raised the requirements for a dual signature format, and would need you to submit the requisite documents for further processing.

For further queries please feel free to write to us at clientservicedesk@kotak.com or contact our Client Service Desk on 1800 209 8800 (Toll Free)

Regards, Kotak Support Team