[Resolved]  Bajaj Allianz — Delay in claim processing from Bajaj Allianz Life Insurance Company Limited

Address:

Bangalore, Karnataka

Dear Sir, I have availed a Life Insurance Policy through my bank ( Citibank, M G Road, Bangalore) from the above mentioned Life Insurance Company in the month of December 2011. Below are the details of the policy: Name of the Plan: SARVE SHAKTI SURAKSHA Date of Inception of Policy: 24-Dec-2011 Policy No: [protected] Policy Holder Name: Sonia Bem Haomom Master Policy Holder: Citi Bank ( Processed through my salary account) I decided to surrender my policy in the first week of July, 2015. I got in touch with the customer care of the insurers and asked them about the relevant documents required to surrender my policy along with a cancelled cheque to directly credit the surrender amount into my citi bank account. I arranged all the documents and send it across to them to their Chennai office. Below are the details of the consignment: POD No: B23626101 Courier Name: DTDC Date of Dispatch: 13-July-2015 Address of the Recipient:Ms Bhanumati tata consultancy service (insurance operations) TEK towers 7th floor, #11 Rajiv Gandhi Salai old mahabalipuram road okkiam thoraipakkam chennai 600097 I tracked the consignment and it was received on 15-July-2015 by the concerned office. I was told that within 16 working days of the receipt of the documents, my account would be credited. We got a call from the pune office of the concerned company on 22-July-15 stating that since the cheque is not personalized ( it did not have my name embossed on it), they can not credit my account and alternatively, they would be sending a cheque in my name. I told them that my address has changed in the interim and hence requested them to send the cheque at my new address. I was told that they cant do that and instead send the cheque to the master policy holder which is citibank. I agreed for this as well and was told that i would be getting the cheque through citi bank shortly. I called the citibank phone banking services to inquire about the status of my cheque. I was told to provide the POD details from Bajaj Allianz. Subsequently, I called bajaj allianz at their customer care number, on 31-July-15 to find out the dispatch details. I was told that they do not have the POD details and they would take 48 hours to give me the details. This, they promised, would be done by arranging a call back. I was given a complaint number:59556730. I have been made to run from pillar to post since then but to no avail. Whenever i called them, i was told that it would take 48 working hours and each day has only 8 working hours. While I called them today ( 05-Aug-15), I am again told the same thing. I have following questions to your esteemed office: i) When Bajaj Allianz can debit the account for monthly premium payment, why cant the same account be credited for the surrender amount? ii) In case the insures wanted to confirm the veracity of my account, they could have checked with citi bank since they are not only my bankers but master polivy holder as well iii) Why the cheque has to come through citi bank when i am the insurer? iv) How many days does it take for the concerned company to provide me with the dispatch details? I, humbly, request you to please look into this matter on priority and provide me with the details as I have been harassed by the concerned company. Regards, Sonia Bem Haomom