[Resolved]  Bajaj Allianz — Bajaj Allianz misleading and cheating

Address:

Chennai, Tamil Nadu

Hi I guess Govt of India has to take strong action or IRDA has to make sure that this company does not sell any more policies to us middle class families.This would be a warning to people before buying Bajaj allianz policies. Please stick with LIC, even if the returns are lesser My name is Padmavathi and I was misled by a agent of Bajaj Allianz, He kept pestering and explained the Bajaj Super saver plan in his own terms. He mentioned that the minimum I need to pay is for 3 years and i can withdraw my amount + accrued bonus anytime after 3 years. He said he was putting the policy payment term as 10 years. Later I came to know that he has manipulated and made it 30 years. Now he is not reachable. Now I am planning to surrender ( I have paid for 2 years . premium of 16000 each) and i find that i will get only 30 % of the total premium.. ( not even 6000 Rs. for a total premioum of 32000) Also i am not sure if that is applicable only after u pay your 3rd year premium. that would be a surrender value of 14000 for a premium paid of 48000. Down right cheating. I dont think I will pay the premium and discontinue Ridiculous how can 70% go as charges? Is Bajaj Allianz involved in this scam? My policy number [protected] Name Padmavathi MPhone [protected]