Max life has a nexus with many bank managers. In my case, Axis bank. The branch manager will sweet talk you into investing and promise that they will take care of any issues and you can trust them etc etc. They get nice commissions from Max life, that’s all.
Max life assured income plan specifically is one of the worst investment instruments ever. Max life’s customer support is very poor and if you want to cancel your investment plan, YOU LOSE YOUR PRINCIPAL. Even if you escalate, even the head of customer support from Axis bank says they are HELPLESS and can do nothing as Max life will not cancel the investment!
Bottom line:
If you make an investment trusting that your bank manager will stand by you if things go wrong, you are mistaken. Bank manager can do NOTHING. At least the Axis bank managers can do nothing.
If you make an investment hoping you can make any modifications or changes later on, you are again mistaken as Max Life has a very poor customer support and their policies are ALL geared towards benefiting them and not the customers.
If you think’assured income’ is any kind of guarantee, you are again mistaken. The’fine print’ actually ensures that Max life is not liable for Anything.
It is a loss all the way for the customer. They just told me that if I do not keep investing for next 6 years, I will loose the principal I have put in so far. I actually chose to loose my principal instead of putting more money and risk loosing all of it later on.
You been warned!