[Resolved]  Bajaj Allianz — Bajaj allianz agent cheated with wrong information

Address:

Bangalore, Karnataka, 560036

My name is rony samson. I took bajaj super saver policy for rs. 49000 per year. As i cannot pay around 50k at a shot, the agent asked to pay through credit card and they will return my interest rate. Also they said will give 2gm gold as gift.
-the plan they said is rs.49000/ year
-you can change the payment option to monthly, quarterly by next year
-locking period is 3 years
-payment period is 5 years.

Note: i got 2gm gold and interest amount excluding tax. They didnt give tax amount.

After 1 year, i called customer care to change the payment option. But they said i cannot change as there is only 1 option. That is yearly. Then i requested to surrender the policy. They i can surrender after 3 years only. Also they will charge (30% of total investment - first year premium (50k))

For example, if am investing 50k for 3 years, my return value will be only 55k

Total = 50k*3 = 150000
30% = 45000
First year investment = 50k
Return =[protected]k - 50k = 55000

The agent (Mr. Shawaiz) cheated me like anything.. Now i dont have any option. Now am paying through credit card only.. Also i need to pay the interest for credit card.