[Resolved]  Bajaj Allianz — Super saver plan - Cheater Shaivaiz

Address:

Bangalore, Karnataka

I also purchased this policy in Nov 2012, Bajaj Allianz executive contacted me they did few of promises like (Policy Number is [protected]) 1) I will get 14 or 15% fixed return on my investment 3) I will be able to withdraw my invested amount after 5 years etc I am trying to contact but no success now he is not picking up my calls or not replying to my email(Mr. Shawaiz Baig - shawaiz.[protected]@balic.in). When I contacted the customer care to clarify few of the doubts, I asked how much amount I will receive if I will surrender the policy after 5 years(as communicated by policy agent), they gave me one formula to calculate the return amount(mentioned below). I was shocked after calculating the amount, after investing 450000 for 3 years my return amount is only around 1 Lac, there is no exit in this policy, you need to make payment till last year of your policy term. If you will exit in between from this policy, they will deduct 70% of your invested amount as charges. Surrender Value "GSV = 30% * (Total premiums paid till date less premiums paid in the first year less any extra premiums and additional rider benefit premiums, if any)" Now I am really feeling cheated by Bajaj Allianz Insurance company and their policy agent Shawaiz Baig. Requesting everybody not to go for Bajaj Allianz for any kind of insurance. If Bajaj is good intentioned company, They should put Shawaiz behind bars. Venkatesh