Legal advice on seeking refund from a term insurance company

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    • #7029 Reply
      Megaraju1225
      Participant
        M
        Megaraju1225
        PARTICIPANT
        April 27, 2025 at 1:54 pm
        Hello all,

        I am seeking legal advice on a matter pertaining refund that I am supposed to receive from an insurance company (Max Life insurance). The employees involved are not updating my refund status and it has been more than a week since I contacted the only POC I have with regard to the insurance policy.

        Some clarity on the POC and his role: The insurance policy was bought through a franchise financial services company (Motilal Oswal) who facilitated the purchase. I am in touch with the manager and the assistant of this financial services firm. They are attempting to reach out to the insurance company regarding the refund of the payment.

        I also have contact details of the insurance company’s facilitator of the refund (via e-mail). However, they have been extremely unprofessional on this regard and are not sending any e-mail updates regarding the refund process.

        Please let me know what legal action can I take to resolve this matter at the earliest.

      • #7030 Reply
        Bravedevika7220
        Participant
          B
          Bravedevika7220
          PARTICIPANT
          April 27, 2025 at 3:20 pm
          If you bought from Motilal Oswal then you should contact MO. They will send request to Max. Thats the usual procedure if bought through intermediary.

          • #7031 Reply
            Megaraju1225
            Participant
              M
              Megaraju1225
              OP
              April 27, 2025 at 3:29 pm
              Yes, they are not responding to the email from Motilal Oswal. Should the legal action be taken on Motilal Oswal first in this case? I will be lodging a complaint with my local PS tommorow.

              • #7032 Reply
                Bravedevika7220
                Participant
                  B
                  Bravedevika7220
                  PARTICIPANT
                  April 27, 2025 at 3:35 pm
                  Tried nodal officer email also? If nothing works, you can raise a complaint to irdai. complaints@irdai.gov.in

                  • #7034 Reply
                    Megaraju1225
                    Participant
                      M
                      Megaraju1225
                      OP
                      April 27, 2025 at 4:07 pm
                      Sure. I will look into this.

                    • #7033 Reply
                      Megaraju1225
                      Participant
                        M
                        Megaraju1225
                        OP
                        May 3, 2025 at 5:51 am
                        I reached out to Irdai. They sent me a complaint form to address all the details of the issue. I had CCed a bunch of guys from both Motilal Oswal and Max life and guess what, they refund came within 24 hrs. ๐Ÿ˜

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