Community › Forums › Legal Advice India › Legal advice on seeking refund from a term insurance company
- This topic has 5 replies, 2 voices, and was last updated 1 year, 1 month ago by
Megaraju1225.
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MMegaraju1225
PARTICIPANT
April 27, 2025 at 1:54 pmHello 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.
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BBravedevika7220
PARTICIPANT
April 27, 2025 at 3:20 pmIf you bought from Motilal Oswal then you should contact MO. They will send request to Max. Thats the usual procedure if bought through intermediary.-
MMegaraju1225
OP
April 27, 2025 at 3:29 pmYes, 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.-
BBravedevika7220
PARTICIPANT
April 27, 2025 at 3:35 pmTried nodal officer email also? If nothing works, you can raise a complaint to irdai. complaints@irdai.gov.in-
MMegaraju1225
OP
April 27, 2025 at 4:07 pmSure. I will look into this. -
MMegaraju1225
OP
May 3, 2025 at 5:51 amI 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. ๐
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