[Resolved]  Bajaj Allianz Life Insurance Company Ltd — citi bank and bajaj allianz are openly cheating

Address:

Chhindwara, Madhya Pradesh, 480106

I got a citi bank salary account in 2010 when i was offered for the bajajallianz insurance policy linked with citi bank suvidha account. They guaranteed 8% returns and 2 years lock period. They can come out of the policy anytime after 2 years. I opted for when they say i will receive the bond along with terms & conditions in few days after the enrollment and i can take back off it within a month if i am not ok with t&c and no penalty for that. But i did not receive the bond at all. After 2 years completion, i wanted to cancel the policy and called customer care. They say the lock period is 5 years now. If i still want to surrender, i will lose 40% of the amount i paid as premium. That is ridiculous. If i call citi bank, they say they have no info to give and asked me to write to citi. [protected]@bajajallianz.co.in. I wrote a mail with all my details. Again after few years i started following up to ask how my is the current value but they mentioned less amount then i paid and after discussion with customer care they said if i continue for 10 years i would surely get good return. Few months back i again started inquiring the current value but did not get reply after multiple mails. I have not got any acknowledgement mail either. I kept on sending mails without any luck.

I decided to close my citi bank also now. I want to get rid of the bank account and the insurance policy. I am seeing lot of complaints about this, but none of them say the problem is resolved.

Regard,
Rakesh