Its really sad that the banks like Kotak Mahindra and Kotak Life Insurance companies are cheating their customers openly and when customer raises his/her voice through blogs and forums they will just write a standard reply and then sleep over that issue. You write emails to their customer care, grievance officer, managers there will be no reply. Now I am going to write to their vice president as well but from my past experience will the bank I am really doubtful to get any reply from him/her. following is my experience with the bank
One of the Agent (Nitin) of Kotak Life Insurance called me to briefed me about the Kotak Superadvantage policy and sent one of his executive to my residence for further details. The executive explained me about the policy and told some benefits that were very attractive. The benefits included No premium to be paid after 4 years, 200% bonus at the end of third year.
When I asked the executive for the written proof of the above mentioned benefits. I was told that the benefits are special offers for a limited period only and will be printed in the policy documents only. But to my surprise when I received the confirmation call from your insurance call center they denied of any such benefits. To which I instructed them not to forward my documents for further processing.
This time as well the executives surprised me by processing the documents further and sending the final policy documents. To which I reacted immediately and called the customer care department and asked them to check their call logs for such conversation and cancel my policy. They arrange a call with the agency who then sent one of their executive (Mr Deepak) for the collection of the documents. The executive then collected all of the documents along with a hand written letter for the cancellation of the policy and never returned back with the receipt. Till date I am struggling with the insurance company to get the policy cancelled and my money back. I have written emails to the customer care and grievance officer but all going to dead ends.
following are my learnings;
Do not trust on verbal commitments on the agents.
Do not ever rely on free lookup period, as you can only avail that once you will get the policy.
Do not ever think that you can stop the processing of your application at the time of confirmation call. 4. DO NOT TRUST KOTAK
and last but ot the least DO NOT BUY ANY INSURANCE / POLICY FROM KOTAK
My details are as follows:
Name: Tarun Jindal
policy: 01895999
Mob: +91-9582942151