Hi,

I had taken a Kotak Life Insurance ULIP policy in last August. When the agent came down to me for discussing the Policy, he told that the first years premium is guaranteed 200% return and I can withdraw the policy after paying for minimum locking period of 3 years anytime after 5th year onward.

But recently I called up the customer care for checking the fund value, they said that the 1st years premium is not invetsed any where and the amount will be returned with 200% addon only if customer pays the premium for 20 years.

The agent and the manager [Priyankar Mukheerjee from Agency -Symphonix, Kolkata] lied to me and even the customer care person who initailly called for fixing the appointment all told lies and they never disclosed the fact that we have to pay for 20 years to get out 1st years premium.

These agencies giving policies to corporate worker basically are cheating them as they are very well aware that we dont have mush time to investigate.

Originally Posted by Bunty

Hi,

I had taken a Kotak Life Insurance ULIP policy in last August. When the agent came down to me for discussing the Policy, he told that the first years premium is guaranteed 200% return and I can withdraw the policy after paying for minimum locking period of 3 years anytime after 5th year onward.

But recently I called up the customer care for checking the fund value, they said that the 1st years premium is not invetsed any where and the amount will be returned with 200% addon only if customer pays the premium for 20 years.

The agent and the manager [Priyankar Mukheerjee from Agency -Symphonix, Kolkata] lied to me and even the customer care person who initailly called for fixing the appointment all told lies and they never disclosed the fact that we have to pay for 20 years to get out 1st years premium.

These agencies giving policies to corporate worker basically are cheating them as they are very well aware that we dont have mush time to investigate.

Dear Customer,

We would request you to please coordinate with us on kli.grievance@kotak.com, mentioning your policy number, post which we will take this issue forward.

For further queries please feel free to write to us or contact our Client Service Desk on 1800 209 8800 (Toll Free)

Regards, Kotak Support Team