Fraud. Fraud. Fraud.
I humble request to all please do not go with Max Life insurance company it a no.1 fraud company in the world.
please do not issue policy from Max Life insurance it a fraud company. I loss my money.
I am sharing that Max New Life Insurance is fraud I have policy 2 policy no.1 is 353195019 and 2nd no. is 807539598. It really robs you off your money. I think ‘Max’ stands for ‘Maximum’ fraud they do with innocent people. I purchased their policy 6year ago through’ one of their agents.
I have paid 35000 and after 6 year I got 21000 only, I had the shock of my life when I saw that actual value. The investment carries market-risks, but only for investor. The company keeps s*cking your money every month at a predetermined rate.
Also MNYL is the only company which never sends you reminders for annual premium due date.
Common people who know very less about these ULIP-policies are their easy targets. The agents usually tell us that you have to deposit 20 or 60000 per annum for six years & your life insurance will run for full 20years even if you do not invest thereafter. When we receive policy statement, we usually do not read the things written in that fine print. They conceal the whole deductions in that technical jargon. After burning my fingers, I have learnt few things:
• If you want good returns of your money, do not ever invest in MNYL. You may purchase separate life insurance from LIC, United Ind. Assur. etc with much less premium for same amount of sum-assured.
• Always ask for monthly/annual charges, prem. allocation charges, mortality charges etc from the agent.
• Always read the illustration part enclosed with the policy.
• I request to all please do not go to MNYL If a fraud company.