[Resolved]  Bajaj Allianz — Bajaj Allianz's Citi bank Suvidha account Life insurance

Dear Amarendra,

Greetings from Bajaj Allianz! We have taken a note of your concern and would like to look further into the issue. Kindly provide us with your contact details along with your policy no. at help.[protected]@bajajallianz.co.in basis which our representative will get in touch with you soon to help resolve your concern. Do mention reference no."ORM012612" when writing to us.

You may also post your concern at http://support.bajajallianz.com/support/.

Regards,

Bajaj Allianz
Life Insurance

Dear Amar,

Thank you for providing us with the details. Our team has already initiated the process of resolution. Kindly allow us some time to look further into the issue.

Regards
Bajaj Allianz
Life Insurance

Firstly, without opted bajaj allianze guys falsely opened the group Insurance policy along with my salary account with citi bank. However as I completed more than 4 years which is locking period for policy, when I called customer care to withdraw the policy they said to charge more than 30, 000 as an administration fee. I've paid more than 75, 000 in last 4+ years and clubbing with interest of 8.5% I must be getting 96, 000+ rs, but customer care executive told me that my maturity amount would be only 65, 000 rs after deducting administration charges.

I've never seen such a fraud company like this, I cannot call this cheating I would like to them robbers.
However I'm not gonna leave them like this. I am ready to sue them cheaters.

Regards, Ravish Gupta Mumbai [protected]

This policy is really really frustrating ...I will never ever recommend Bajaj and Allianz brands to anyone...not even the motorcycles... I am just another victim of this fraud ...

This is ridiculous from Bajaj Alliance and they are cheating poor people so smartly.
Kindly never go for any private life insurance agencies.

Hello Guys,

Please never ever take this Suvidha life insurance from Bajaj Allianz. Also I recommend not to take any insurance from Bajaj Allianz.

For Rs: 1500 monthly installments, only Rs: 943 will go into your savings. Rest of the amount will be deducted from the amount paid monthly.

Please be aware of this and Bajaj Allianz is totally fraud. In the certificate documents, its said only administration fee will be deducted but there are more deductions.


Thanks
Charan

Today, i got the same feedback from customer care. if it is so, then it is frustrating & i will never believe in any such policy rather i will go for income TAX deduction which is fair & clear deal for employee like us.

Even I have fallen for this trap. When I contacted Citibank to freeze the policy, I am told that they are only mediators and I need to contact Bajaj Allianz for the same. At least Citibank does not even freeze the monthly deductions being made for this policy. It is real lengthy process to send some policy surrender letter to Chennai address to surrender the policy. If the same customer needs any new policy, I am sure that insurance sales personnel would arrive at any given place within minutes. Clearly I want to take this forward and sue Bajaj Allianz.

Bajaj Allianz — policy not delivered

I was told to stay relaxed and that the policy will reach at my door step, but to the worst of all not only I didn't get my policy but also they dont ever pick my phone call. agent name : arjun Agent number : [protected]

Even I also put Bajaj Alliance life insurance policy. I also contact customer care same feedback only they given. It fully cheated both citi bank also. Please aware don't put any insurance policy along with salary account.

This really seems like a scam. After continuing with this policy for over 4 years i had to close it due to negataive returns. They do not provide any year-on-year statement and also the policy details are not available online. After closing the policy, i still have my ECS getting deducted. This is absolutely nonsense. On contacting Citi Bank they say ECS closure will be handled by BajajAllianz. On contacting Bajaj Allianz customercare i got below stupid response from them.

Samiksha Mendhe/Pune - CFU/Customer Service/Life

Jul 4 (2 days ago)

to me, Rahul

Dear Sir,

Greetings!!

This is in reference with the policy number XXXXXXXXX

We regret for the inconvenience caused to you.

With reference to the below appended mail we would like to inform you that, the policy has been sourced by CITI bank hence the standing instruction needs to be deactivated from CITI bank first and then new bank registration will be done by us. Hence we request you to send one written application with ID proof to the below mentioned address for the deactivation of Standing Instruction from CITI bank.

Address to be sent

Tata consultancy services, Insurance Operations

Tek Towers, 7th floor

11-Rajiv Gandhi Salai

Old Mahabalipuram Road, OKKIAM

THORAIPAKKAM

Chennai, 600097

Once the same will be deactivated, we request you to visit the nearest Bajaj Allianz Life insurance branch to register ECS.

Hope we have been able to clarify your queries. For any further assistance please feel free to contact us.

Regards,

Samiksha Mendhe

Customer Experience

samiksha.[protected]@bajajallianz.co.in
Escalation : rahul.[protected]@bajajallianz.co.in

Bajaj Allianz Life Insurance Co Ltd.

I want surrender my policy number[protected] but no respomse for bajaj allianz
kaushal billore
email. [protected]@gmail.com

Hello sir,

I have taken suvidha insurance before 7 years. Till now I didnt receive insurance document.
Whom should i contact?

How is this issue resolved? I am still affected by this scam from a Bajaj and Citi collaboration. The bank says that the Bajaj team will help you and the Bajaj team points to the bank.
I was offered 8.5% YOY returns with a 4 year maturity period but in reality, the policy bond states that it is a 20 year maturity period with negative returns. It's a complete scam.

The policy is a mess if you stay doing it for 10 years you may be near to get the premium you paid there is no proper visibility it's just a super bad product and only people who will make money is bajaj allianz