I cancelled my policy exactly after 1 year. But ECS was still not cancelled by Max Life Guys.. Suddenly my account was withdrawn for annual premium of Rs. 24, 000/-. when I enquired, they just escape stating ECS is not in the MAX Life’s control and it is under a 3rd party. We need to submit a letter to cancel the ECS.
my concern is that it is the responsibility of the MAX Life to inform the 3rd Party to close the ECS.
how do the investors know these 3rd party things? At Least they should have told this at the time of cancellation.
Just sharing it for people to be proactive to cancel the ECS during policy cancellation itself.