Max New York Life sucks?



MNYL Sucks….!!!! The company is denying claim settlement to 63 years old widow who recently lost her young widower son leaving behind a 6 years child to be taken care of by the grandmother. Its all about our ignorance and humility that they are taking advantage of. They are still using the age old formula of divide and rule in their business strategy. Lets all unite and fight back once so that they dont repeat the same with others….! We must alert all the Clients of the company to ensure that they take extra care to ensure their family gets the money in case they are not there….!!!!

5 Replies to “Max New York Life sucks?”

  1. I am 1000% with you on the grounds of uniting for the cause.
    The major focus of this should be on educating the ANTI STRATEGIES planned by the Insuring Companies.. ALL THE TERMS AND CONDITIONS ARE LEGAL BASED AND LAYMAN IS NOT AWARE OF THE REPURCATIONS .BEFORE BUYING INSURANCE THE LAYMAN MUST BE AWARE OF ALL THE CONDITIONS AND TERMS VERY CLEARLY. AS A RESPONSIBLE THIS IS A DUTY OF AN AGENT BUT MOST OF THE AGENTS ARE IGNORING IT AS THEY GET HUGE COMMISSION ON SALE. VERY FEW AGENTS ARE TAKING CARE OF THEIR CLIENTS,NONE OF THE AGENT IS EDUCATING THEIR CLIENTS BUT THEY ARE MOSTLY COMPANY FRIENDLY NOT CLIENT FRIENDLY AS AGENTS ARE AFRAID OF LOOSING THEIR INCOME. AS AGENTS ARE LOOKING AT THEIR INSURANCE BUSINESS AS ONLY INCOME SOURCE AND NOT AS SOCIAL SECURITY..


  2. Its very difficult to judge without knowing to cause for denying claim , but in spite of that on some humanity ground company have some responsibility also. By the way i m agree with you about some campaigning.
    HAVE A NICE DAY.


  3. Dear All,

    Mr. Sandeep Gupta’s life insurance policy states Mrs Anu Gupta (wife of Sandeep Gupta) as the registered nominee with Max New York Life Insurance. During our claims settlement evaluation process it was found that the nominee Mrs Anu Gupta had passed away on 28-May-2006 prior to the death of Mr. Sandeep Gupta. However a valid request for change of nominee has not been submitted to the company as yet.

    The Policy Amendment Request Form was set to the company by Mr. Sameer Gupta, (Mr Sandeep Gupta’s brother), through an email, post claim intimation, which has neither been signed by the life assured nor is the policy number mentioned.

    Mr. Sameer Gupta (Sandeep Gupta’s brother) then informed us that the life assured is survived by a minor son and mother. Since the child is a minor we offered to pay out the claim amount as a fixed deposit created in the name of he child which would be payable to him on attaining the age of 18.

    Mr. Sameer Gupta then stated that the minor son is adopted and hence to settle the claim in favour of the mother. When this was also discovered as untrue he changed his statement to the child being a biological child however mentally retarded.

    The company has been repeatedly requesting Mr. Sameer Gupta for a succession certificate which has not been provided . In case we do not receive the succession certificate in by 31st May 2011, we will be forced to close the claim.


    Yours’ Sincerely
    Support Team
    Max New York Life Insurance



  4. First of all, I thank the Support team for the revert answer. Now that they have answered this query in public, let me ask them a few important question?
    How does it matter whether my nephew is adopted or biologically born?
    How does it matter whether the child is mentally retarded or not?
    How does it matter whether Nomination change request was given or not?

    What matters most is that who is going to take care of the child and the mother of the deceased. The issue here is complicated by the company on the reason that the Insured did not submit nomination change and we are of the opinion that the nomination change was given but not processed. We say this with confidence because anybody knowing Mr. Sandeep Gupta would agree with me as he was one of the most meticulous Investor & Planner. Infact, imagine that all his bank accounts were settled, stock investments were paid in favor of my mother. Even the other life insurance company paid the claim without any issues.

    If the company can claim Sameer Gupta’s statement as untrue, did they do due diligence by sending one of their investigators to visit on the grieved family or to check whether his statement about the child was true or not.

    By the way, the entire investigation by Mr. Kapil Kaushik was to make sure if the nomination change was given or not. The telecon revolved around the two parties discussing ways to settle the claim and Mr.Sameer used “what if” in his entire discussion when MNYL offered to settle in the child’s name. What if the child is adopted?
    What if the Child is handicapped?
    What if the child misuses the monies?
    And so on…..
    The Company will have a recorded copy of the same for their reference.

    Mr. Sameer Gupta & his mother, Ms. Urmila Rani Gupta rejected MNYL’s offer to settle the claim in favor of the child keeping in mind two things;
    One, the upbringing of the child till the age of 18 and
    Two, you can never predict the future. If the child gets into wrong company, he could misuse the monies at the time.

    Now, the intentions of the company are very clear to everyone when the Company is deciding to close the claim. The company would have looked for avenues to settle the claim had their intentions been so.
    They are also aware of the Family history of the Insured, Mr. Sandeep Gupta and that his legal survivors are his child and his mother.

    Now it is for the Company to decide keeping in mind all the facts stated above.

    Voting in favor of and standing to support for a cause
    Sandeep Kumar Saini
    [email protected]





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