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Kotak Life Insurance policies

India,
Uttar Pradesh

Consumer complaints and reviews about Kotak Life Insurance policies

N.G.P.Bhanu Patnaik
 
Apr 15, 2014

payment of surrender value

I am N.G.P. Bhanu Patnaik bearing policy no.00693418 under plan Kotak Flexi Plan II (Reg) which i wanted to surrender and submitted the document with the Bhubaneswar office located at Cuttack Road on 26.06.2013 at 12.35 P.M.But i did not get any infor mation from the said branch and hence i approached the Branch Manager and gave a witten complaint .Even after doing all this i didn't get any reply and finally when i inquired in the reception counter of the branch,i was given to understand that my policy is lapsed and even if i was entitled to get some surrender value approximately Rs.50,000/-Iam not going to get any thing. Please suggest me what i can do to get back my surrender value.
With warm regards,

N.G.P.B.Patnaik
pramodrath
 
Apr 5, 2014

kotak life insurance

I am receiving calls from various person regarding my policy. To I Received a call from some S.Singh introducing himself as a personal from insurance regulatory Authority ,Complaint section. He asked me whether i am getting the fund value statement or not. He is also asking me for my policy no, which i did not give. Can you look into the matter.
I also requested the Kotak Mahindra Insurance to sent me the policy deposit receipt in my address as given in my policy., which was deposited on 17/05/2013, but not yet got. The company supposed to sent me the fund values of my investment, which i am not getting though 2 years have been passed. Please look into the matter and reply
saroj rai
 
Sep 13, 2013

to make corrections in name of my mail

I want corrections in my mail.....
The i.d u have registered is wrong......
My actual i.d is
Saroj.roy63@gmail.com

Respond to my complaint as early as possible..
sahil rajpal
 
May 16, 2013

CANCELATION OF INSURANCE

from - MALAKRAJ RAJPAL
DEAR SIR,
WE HAVE TO CANCEL OUR INSURANCE POLICY.
Kotak Support
 
Apr 2, 2013

RE: Cheaters Kotak

Dear Madam,

We have dispatched the detailed letter to your registered address. For any clarifications please write to clientservicedesk@kotak.com ID.

Regards,
Kotak Support Team
amitkapoor253
 
Feb 2, 2013

Cheaters Kotak

My Policy No. 01732946;
My Client ID. 53110470;
Name of the Plan. Kotak smart advantage(UIN-107LO43VO1)
My address : House No. D-12/37/1, Block D, Pocket 12, Rohini, Sector 7, Delhi 110025.
Why my Policy has been terminated after paying a premium of 15000 per year for three years.Please furnish complete details.
GULISHA
 
Apr 24, 2012

Not happy with this policy

Dear Sir,

I want to quit my policy but i have no idea about this where is your Registered Office in Rohini side in Nearest about there So plz help me my contact no is 9958700252

POLICY NO -01145625
User337658
 
Feb 25, 2011

Cheating Racket run by Kotak Life

DEAR SIR, Policy no.911302. Mrs.Indrani. this policy is pem pay statement please, i want.then they policy total units alloted value.
User336087
 
Feb 23, 2011

Cheating Racket run by Kotak Life

Mail trail with Kotak Life pls read from below.

Mr.Kotak/Mr.Gupta – Sorry to bother you again, refer the fraud which has happen by your company pls don’t let the brand name of Kotak be ruined - just because of your direct sale team target pressure. It is obnoxious which has happened with my parents and due course of grievance redressal is required on an immediate basis.





Mr.Rathod,



I WANT TO MAKE IT CLEAR THAT I HAVE HAD NOT REQUESTED FOR CANCELLATION OF POLICIES, I’M REPORTING FRAUD HAPPENING AT KOTAK LIFE.



Mr.Faruki – What information you have passed on to Kotak Mumbai team? It is FRAUD reporting not a cancellation request pls make it very clear.



Refer your below mail, pls be informed that I’m surprised and sad to read this “Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year”



Here your executive SACHIN sells one policy while being in Netambit and when he joins Unicon after 1 year he misleads the customer saying that the customer will get 72,000 out of a policy of Rs. 50,000 if the customer opts for another policy worth Rs. 24999. It was wrongly explained after 1 year by SACHIN to do so – HENCE NO COMPLAINT WAS REGISTERED IN PAST 1 YEAR, HOPE YOU UNDERSTAND IT NOW.



Now why that SACHIN don’t come on calls now? If it is not a case of MIS-SELLING your representative should not hide and avoid calls.



Pls get hold of SACHIN, know the truth and punish him, treat it seriously Kunal.



Another development, today I received a mail from unicon to send the complaint to email id which of GMAIL, again surprised to know how you function and your level of business partners - helpdesk.vighnaharta@gmail.com (Mail attached)



Kunal the case is deep and you are dealing with it in a generic case closure manner, which is not at all appreciated. If you don’t take it seriously I will do whatever it takes to get justice.



RIGHT NOW I WANT TO CALLOUT VERY CLEARLY THAT I’M VERY DISAPPOINTED WITH THE SARKARI ATTITUDE OF PRIVATE COMPANY KOTAK LIFE.



Your review is there in mouthshut.com pls refers the URL below:



http://www.mouthshut.com/review/Kotak-Mahindra-Life-Insurance-lsnumstsln







Regards,

Saurabh


--------------------------------------------------------------------------------

From: Client Service Desk //Kotak/Insurance [mailto:clientservicedesk@kotak.com]
Sent: Wednesday, February 23, 2011 6:42 PM
To: Saurabh Malik
Subject: FW: FW: Cheating Racket run by Kotak Life



Dear Mr. Malik,



This is in reference to your request for cancellation of Kotak Smart Advantage Plan and Kotak Surakshit Jeevan policy number 01749643 and 02147245 respectively.



We have gone through the concerns highlighted by you and post investigations, the company has agreed to cancel the policy number 02147245 only. We request you to kindly submit the policy documents at any of our nearest branch located to you and complete the formalities and provide us a cancelled cheque (incase you wish to receive surrender amount as direct credit to your bank account).



Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year.



I trust the above explanation clarifies your concern.



For further queries please feel free to write to us or contact our Client Service Desk on 1800-209-8800 from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

1800 209 8800 ( Toll Free) |(+9122) 6725 7452 ( Fax) | clientservicedesk@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

Visit http://insurance.kotak.com/ and pay through Net Banking.
Pay through your bank’s website
Pay through VISA money transfer (https://www.visabillpay.in/)
Pay through Bill desk (www.billdesk.com)





--------------------------------------------------------------------------------

From: Saurabh Malik [mailto:Saurabh.Malik@indiatimes.co.in]
Sent: Monday, February 21, 2011 1:47 PM
To: Uday Kotak //Kotak /Bank; Dipak Gupta //Kotak /Bank; helpdesk@uniconindia.in; gnagpal@uniconindia.in; rgupta@uniconindia.in; sarora@uniconindia.in; contactus@netambit.in
Cc: Client Service Desk //Kotak/Insurance; KLI Grievance //Kotak/Insurance; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank; Haseen Faruki //Kotak/Insurance
Subject: FW: Cheating Racket run by Kotak Life



Mr. Faruki and Mr. Mishra (Kotak Employees based out of Allahabad) were their at my parent’s house last Saturday.



Both of them and specially Mr. Mishra was trying a lot to convince my parents that fraud has happened and nothing can be done now….they should cancel second policy and continue with the first one as nothing can be done now! IRDA wants to the register the formal complaint refer the below mail received from them, fyi pls..



Mr.Kotak /Mr.Gupta – I will request you to please intervene as your employees are not trying to get hold of the culprit (SACHIN) and his companies (Neambit & Unicon) but they are trying to put the case below the carpet and get rid of the situation.



Need resolution immediately – pls help.



Regards,

Saurabh


--------------------------------------------------------------------------------

From: IRDA Complaints [mailto:complaints@irda.gov.in]
Sent: Monday, February 21, 2011 12:23 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Sir/ Madam,

We acknowledge your mail.

As we found information to be incomplete to register your complaint, we request you to send the complete details in the below mentioned format or you can contact 155255 (Toll Free) to register the complaint.


* Mandatory Fields

*Name of Complainant
Mr./Ms.

Communication Details


Door No./ Bldg/Name/ Floor


Street / Area


*City/Town/Panchayath/Village


Taluk/Tehzil


District


*State


*Pin Code


* E- Mail


Telephone No


*Mobile No
+91

Fax No


*Insurance Type (Please mentioned Insurance Type

*Life
* Non Life


*Insurance Company Name


Policy No:


Cover Note:


Other Reference No:


Details of the Complaint (Please type the full details of the complaint)


*Have you Approached Insurance Company Regarding This Grievance (If Yes Provide Ref No )





Regards,

Consumer Affairs Department

IRDA

Basheerbagh

Hyderabad






--------------------------------------------------------------------------------

From: Saurabh Malik [mailto:Saurabh.Malik@indiatimes.co.in]
Sent: Thursday, February 17, 2011 11:09 AM
To: Client Service Desk //Kotak/Insurance; kli.grievance@kotak.com; sachin.kumar@kotak.com; tarun.dhawan@kotak.com; singh.vijay@kotak.com; piyush.trivedi@kotak.com; dipak.gupta@kotak.com; pankaj.desai@kotak.com; c.jayaram@kotak.com; haseen.faruki@kotak.com
Cc: complaints@irda.gov.in
Subject: RE: Cheating Racket run by Kotak Life



Some Shruti from Netambit called my parents yesterday and was trying to give the logic that any policy has free look up period of 15 days but as a reply we want to say that Sachin the culprit has done the fraud after one year not within15 days, refer the trail mail.



Mr. Faruki from Kotak Allahabad is requested to give quick resolution and punish or debit Netambit and Unicon from where Sachin their employee had made calls in order to deceive us.



Mr. T.Venkateswara Rao (Deputy Director - IRDA) is requested to see how insurance companies hire business partners like Netambit and Unicon who further are not able to control quality and end-up doing MIS-SELLING. Kindly get my case resolved.



Regards,

Saurabh





Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999




--------------------------------------------------------------------------------

From: Client Service Desk //Kotak/Insurance [mailto:clientservicedesk@kotak.com]
Sent: Monday, February 14, 2011 1:12 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Mr.Malik,



This is with reference to your E mail dated 09.02.2010.



We would like to inform you that we have forwarded the case for investigation and revert back with resolution 3-4 working days



We solicit your co-operation for the same.



For further queries please feel free to write to us or contact our Client Service Desk on 1800-209-8800 from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

1800 209 8800 ( Toll Free) |(+9122) 6725 7452 ( Fax) | clientservicedesk@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

Visit http://insurance.kotak.com/ and pay through Net Banking.
Pay through your bank’s website
Pay through VISA money transfer (https://www.visabillpay.in/)
Pay through Bill desk (www.billdesk.com)







--------------------------------------------------------------------------------

From: Saurabh Malik [mailto:Saurabh.Malik@indiatimes.co.in]
Sent: Wednesday, February 09, 2011 5:38 PM
To: KLI Grievance //Kotak/Insurance; Client Service Desk //Kotak/Insurance; KLI Press Queries; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Dipak Gupta //Kotak /Bank; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank
Cc: complaints@irda.gov.in
Subject: Cheating Racket run by Kotak Life



Dear Kotak Life Team & Mr. T.Venkateswara Rao (Deputy Director - IRDA),



With extreme agony and pain I’m writing this mail to you all. Pls find below details of two policies sold with wrong information (MIS-SELLING) to my father (Mr. Malik). Policies are in the name of my Mother (Mrs. Swadesh Bala Malik)



A person with the name Sachin called-up my father ( Sachin’s Mobile number – 9871669706 & Landline number – 011- 43619339) and sold policy No. 01749643 and later after one year, Sachin called-up my father and told him that this fund is discontinued hence my father will get Rs. 72, 000 back on the invested amount of Rs. 50,000 and policy will be closed, if my father opts for another policy worth Rs. 24,999. My father being not very literate agreed and buys Policy No. 02147245 of Rs. 24,999. Now my father is waiting for Rs. 72,000 and Sachin is not picking up his calls since 2 months now.



I want that my father should get Rs. 72, 000 as committed + Rs. 10,000 compensation for the first policy no. 01749643 and Rs. 24,999 + 8% p.a interest for the wrong commitment and harassment he has faced by Kotak in front of his family for the second policy no. 02147245
Both the policy should be closed and we don’t want to engage Kotak ever in our house now.
Name of policy holder – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik) should be corrected for record purpose only.
Last but not the least, employees like Sachin should be taken for a task on ruining Kotak image.


Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999





Regards,

Saurabh Malik

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