Jun 18, 2011 08:05 PM
8473 Views
==KOTAK CHEATED ME FOR Rs.5, 00, 000 annual premium, ==*
below is the letter I wrote to IRDA, hope some positive reply.
Never buy from kotak. .
==They can go to any level to Forfeit ur money, ==*
Policy number: 00605442 of Kotak Life Ins.
Dear Sir,
I am writing this email as with lot of hope that at least IRDA will help me solve my problem.
I have immense faith in the Indian financial regulatory system and I am sure that Justice would be done with me.
KOTAK Life Insurance is a very Big & powerful company, with big lawyers and influential people on their board which can make small customtakeouters like me to run from pillar to post and never even reply me, after several attempts to contact them. They did not reply even to my email written 14 days ago to their grievance Manager, nor even a single phone call was received after sending my complaint to them.
I am just a common businessman, who has worked very hard in his life to be where he is. I do not have any powerful contacts nor do I no influential people as KOTAK, so I am writing this email to you sir, as a humble request to help me get back my money.
I, the Undersigned Mr.Muninder Washy Sadarangani is an NRI businessman With Business interests in Malaysia, Indonesia and USA. My work Involves extensive travelling to many countries.
In the year MARCH, 2007**, at The Taj President Hotel, Colaba I met a Gentleman representing Kotak.He explained me that we at KOTAK have launched a new Plan named Kotak SIP, and You could Invest for 1 year minimum and thereafter continuation was COMPLETELY OPTIONAL.
Also, After completion of 3 years you can withdraw your money tax-free and also you would be given free Insurance for 3 years.
So, I went ahead and purchased your SIP plan Rs.5, 00, 000 premium(Sold as 1 time investment, but converted as ANNUAL mode) and policy number is 00605442.
After coming back to India in the Year 2010, I wanted to know the fund value of my policy and to my horror I was Informed that the POLICY is FORECLOSED.
To my suprise, the Plan which I invested in Was "SAFE INVESTMENT PLAN" misold as SIP to me.
Also, I was informed NOW THAT IT IS COMPULSORY To pay for 3YEARS to keep policy alive.
I was Cheated and Misold. I didnt EVEN once receive a CALL from the company that it was COMPULSARY TO PAY for 3YEARS.
Also, after taking polciy Never AnyBODY has made any attempt to contact me when I had not paid the 2nd premium and then the 3rd premium.
NOR DID I RECEIVE ANY LETTER FROM KOTAK COMPANY Regarding my MONEY being forfeited?
I think Rs.5, 00, 000 annual premium customtakeouter should have been contacted by company?
==I think Kotak life Insurance make PROFITS BY CHEATING customtakeouters Like ME? ==
I was Even ready to pay rs.10lacs(Rs.5lacs*2nd yr+ 3rd yr) and START THE POLICY.
But, I was Informed that The policy is FORFEITED and U LOST ALL YOUR MONEY.
I met Mr Siddarth of Andheri branch in 2010 and he listened to my problem and asked me whether I knew any top guns in the company
or if I was a Gujrati? only then it would help?
Is it that I should GREASE somebody's Palms or be of Gujrati caste(top people in kotak are gujrati’s) to get my own Money back?
Regards,
Muninder Sadarangani
Email: muninder100@aol.com
