Complaint Details

Status	:	Closed
Complaint No	:	0002995/2013
Category	:	Insurance
Date	:	23-01-2013
Subject Line	:	wrong commitment
Complainant	:	RANJEET KUMAR
Address	:	14A VIOM BUILDING MARUTI INDUSTRIAL AREA SEC-18 GURGAON HARYANA-122015
Complainee	:	Kotak Mahindra Old Mutual Life Insurance Limited,
Address	:	2nd Floor JMD Regent Square, Opposite Sahara Mall,

Complaint Details
I purchased two policy of Kotak Life Insurance in the month of Jan & Feb 2012. Policy no is-02471709 & 02455714 and monthly premium is Rs. 2048/- each policy.

Mr. Rahul Gupta was the designated representative from Kotak Life Insurance and act as an agent of the company. He told me that policy purchase will be followed by credit card of limit Rs. 3.5 Lacs and it will be issued on behalf on policy . This policy will also entitle me for a bonus of Rs.- 10000/- after every six month. But on receipt of policy I observed that benefits as committed above by company’s agent Mr. Rahul Gupta is not fulfilled.
For the resolution of above dispute, I had also complained to IRDA, Reference with IRDA token no- 03-12-035991 (Policy no-02471709) & 08-12-000681 (Policy no- 02455714)
When I had complaint through IRDA, I had got call of Agent- Rahul Gupta Mobile-9718835385 was told me that, I will refund your all paid premium, but as of now he has not refund my paid premium,
I am in continuously communication with kotak Life insurance. But company failed to give a resolution. Company sold this policy to me by fraud and do not fulfilled its commitment. Kotak is taking stand on ground of free look period and not giving consideration to offerings given by its agent.

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