I am one of the policy holders of MNYL. My experience with them is really terrible.
This year when my policy premium was due, I sent my payment cheque through the business reply envelope sent by them. After about 10 days I started getting reminder letters & emails for payment. When I enquired with their call center(only communication no. given to customers), they informed me that they had not received my cheque & they want immediate payment otherwise my policy will lapse. I hurriedly made payment by cash at their office. Same day I got to know that the cheque, which I sent to them had been encashed from my account. I again contacted them & was assured that I would get the refund very soon.
What I did not know was that this is only start of my bad time with them. It has been more than 2 months & I have still not received my refund. I have lost count how many times I have contacted their call centre. Their call centre agents are a bunch of jokers who do not have any idea about your problem & solution. Everytime you call them, they would put you on hold for good 5 minutes before they speak something that makes some sense. Evrytime they would promise to get back to you with information but they would never call back. I even sent emails to them & except once I never got any reply from them. Also as per standard process of MNYL, you would expect a reply of your email only after good 3 days. And the reply which I got from them was useless. As per them the cheque has been delivered to me one & half months back & these liers even gave me the POD of the same. Then I decided to go to their branch office as that was the only option left for me(because u do not get any contact nos of any employee of MNYL). Whenever you dial their boardline no., they will transfer your call to their call centre. At their branch office they have kept some bouncer sounding guys escorting their office gates. These guys wo’nt let you in unless you tell them the name of the person you want to meet & the purpose of your meet. Even if you mention the designation of the person, they wo’nt let you enter. I had to use force to get entry inside the office & lodged my complaint in their(proclaimed) centralised system. I was informed by them that the cheque was not delivered to my address because I was not available & hence came back to their office(contrary to their earlier statement in email reply). I was given a ticket number of that complaint also. I was asked to give an endorsement in written that I have not received any cheque & require to issue a new cheque(Why could they not check in their system whether that cheque has been encashed or not). They assured me that I would definitely get the solution in a weeks time. I even gave them options of delivering the cheque to me personally by their agent or collection of cheque by me from their office. But they simply rejected my proposal as this is against their rigid policies(non customer friendly). More than 15 days have passed since then & I have still not received my cheque. When contacted them, same excuses were given to me that courier returned back because Adresse was not available. I think they make policies to harass customers. As per them if you have to receive any payment from them you need to take one week leave from your office & stay at your home so that you can receive your cheque because their courier guys even do not call or leave any message that they came to house. Also, for othe letters like reminders, payment reciepts etc they simply use media(post or courier) which delivers these dosuments to your house but for cheques they claim to take extra precautions(& do not understand the practicality of that process because of which customer suffers). When they have to receive any money from customers, they send their agents, who would follow customers day & night to get money but when it is time to deliver money, all their processes become live & controlling. Even at their headoffice, they do not have any system through which they check whther any pending complaint has been resolved or not. As a customer, only you have to chase them again & again just to get blank responses.
As a harried customer, I would sincerely advise not to fall in trap of MNYL. They only boast of being committed to customer service but practically they & their policies are strictly against it.