I am a US Qualified Registered Microbiologist-Medical Technologist, operating my own Clinical Lab. I have been an activist advocating consumer, civic, citizen's rights for Thirty plus years & a Frequent contributor to the letters to Editor.

Friday, October 09, 2009

More on MaxNYLife:2

IRDA seems to be sleeping on this issue. I even petitioned the president of India, Prime minister etc on an earlier issue with this company. Now they are charging me service tax on the to term 100 policy. They said they were paying earlierout of their pocket.Now they think I should pay it. When I pointed out that this is a breach of contract-my policy is about 10 years old- they restate contract law to say that they can add any clause if it is not specifically forbidden. The fact is they must be losing money and they are cutting losses. IRDA seems to be blind to this robbery. We the customers should petition IRDA, its ombundsman and then approach consumer courts for redressal.


Couple of years back, like any responsible person.. I choose to make some investment in the most safe way possible.. so I

choose Max newyork life (India) ! not because I was attracted by its policy rates or promises but because of the wonderful service I got from one of the Agent.

Things were very smooth until i made my mind to buy some more policies.

Last year in the mid of July, I was approched by couple of people from Max newyork life who said that there is a policy that has an option of investing 50,000 rs as onetime investment and listed me the stergical outcome of it in over the years. As per my research this policy sounded as something that I just wanted. So, I made the purchase using my credit car. (which was unnecessary at that point but the plan was too good to let go!!!)

A month later I got 2 policies from MaxNewyork each with 25000/- yearly.... to add more pain, I was in US at that time and was unable to catch the agents by person. So that where my mail trail to MaxNY started. Max newyork people demanded that I had to give them a wirten letter personally meeting the regional manager! which was my first thing to do after returning from US (after 3 months)..... I gave him a written letter and I was told that I dont have to worry (it did nt stop there!!!!)

one Month later (which means after 5 months from policy date) I received a letter from Max newyork stating I can change my policy amount to 25000 annualy and stick on to the investment i made. Since the investment was already 6 months old, I agreed to that. But after 2 weeks, i received a letter requesting payment for 2500/- rs on each policy so that it would add up to 15k each per yr (the minimum amt) Which i did.

After coming back to US (end of Dec 07) I jus wanted to check on the status only to find out my policy amount has still not been changed. They have sent me another mail stating I have to make the policy amount 20000 each (so! 40000 rs together).

Since July 07 to July 08. atleast with 50-60 mail converstation with agents and managers, I am still in back of Max Newyork life trying to correct the mistake they have done and hoping to live with it at a minium loss, but I dont see it coming. No matter how many mails I send to the manager Manoj.Shenoy@maxnewyorklife.com requsting him to do something abt this or atleast give me his managers mail id, there hardly is any response!!!

So !! Is that mean that the service cannot be provided if the person is not able to be around!?!?


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