Regarding Maturity value of Policy from Max Life Insurance ?

POSTED BY MD RAZI HAIDER ON January 20, 2014 1:31 pm COMMENTS (8)

I am having one policy with Max life Insurance and paid 4 years for Approx. 53,000/-and this policy’s Maturity date would fall on December-14.

Now I have contacted to Max Life Insurance to give me details that how much would be the maturity amount VS Surrender Amount. They are not giving  any correct reply only they are saying that at present I would get Approx. 41,000/- as a surrender value.

What are the IRDA rule in this regard.

Any body help me out.

Thanks & Regards

M.Razi Haider

8 replies on this article “Regarding Maturity value of Policy from Max Life Insurance ?”

  1. MaxLifeInsurance says:

    Dear MD RAZI HAIDER,
    A detailed resolution mail has been sent to your email id. For further queries please write to us at care@maxlifeinsurance.com
    Regards,
    Max Life Insurance

  2. MD RAZI HAIDER says:

    Dear Sir/Madam
    I have seen your post on Jagoinvester Forum and providing you the Details about my Policy.
    Policy No. 238671937
    Commencement Date-December-2003
    Maturity Date- December-2014
    Money Back- Not Received till yet on my above Policy.
    Total Premium amount paid-53,000/- Approx for 4 Years.
    Plan Name- Stepping Stone 11
    Thanks & Regards
    M.Razi Haider

    Mobile- +91 9334452524

  3. MD RAZI HAIDER says:

    Dear Ashalanshu,Thanks for replying.
    I have mentioned above that I have not received any amount from my above money back policy.
    Just now , I received a call from Max Life Insurance and they are asking me that surrender value & Maturity Value would not differ in this Policy.
    So, I should surrender in spite of waiting for Maturity.
    Kindly Help what to do
    Thanks
    Razi

  4. MaxLifeInsurance says:

    Dear MD RAZI HAIDER,
    We request you to send us your contact number and policy details at care@maxlifeinsurance.com. Post receipt of the requirement, our customer service representative will get in touch with you within 48 hours.
    Regards,
    Max Life Insurance

  5. ashalanshu says:

    Dear Razi, from the info provided by you, did you receive any money back in between?

    thanks

    Ashal

  6. MD RAZI HAIDER says:

    This was money back policy, which I bought in the month of December-2003 and mode of payment was half yearly and name of the plan is stepping stone 11, which is scheduled to matured on December-14.
    I have not received money back from this plan and Total Payment towards this policy is Approx. 53,000/- during 4 years . After 2007 I did not continue this policy due to some reason or other.
    Thanks

  7. ashalanshu says:

    Dear Razi, you have been fooled in this policy. The maturity date is not in 2014. Please read the policy documents clearly and you ‘ll get the required info.

    Thanks

    Ashal

  8. Sibin says:

    Is it a ULIP policy? Can you provide the exact name of the policy? Return will not be guaranteed in ULIP policies and it will be linked with market returns.

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