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16%
1.61 

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Cheated By Kotak Mahindra - Smart Advantage Plan
Apr 24, 2012 11:17 PM 7046 Views

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I have been cheated by Kotak Mahindra for some commission. We bought a Kotak Smart Advantage Plan. Following are the details:


Policy No: 01598587,


Kotak smart advantage plan uin-107l043V01


Client ID 52773750


We were assured for a return of 135% by the agent on completion of three years. We were quite convinced and invested 18000 per year . Now when the tree year period terms is over we are told that the 135% return is applicable only after 15 years or if we are withdrawing the amount then we will be getting only 33, 000 as the first year premium can only be withdrawn after 15 years, We did receive documents from Kotak Mahindra after purchasing the Policy, however the contents of the documents were highly complicated for a normal person to understand and we had to go by what the agent told us. It clearly is a marketing gimmick by Kotak asking the agent to give wrong expectation to the potential customers. We lost a total of 21000 by this deal instead of a 135% return as committed by the false agent.


Saju Joseph


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