[Resolved] Bajaj Allianz — Refund amount incorrect | |
On cancellation of policy number: [protected], I was sent an acknowledgement from Bajaj Alliance that the refund amount would be Rs. 28669.07, but when the amount was finally settled to my account, it was only 24837 Rs. On complaining about the difference in settlement amount, I am told that due to temporary system error the amount given in the letter was more than the actual. The cancellation was done on 5th Feb 2011. I have raised several complaints after this, and the only reply I get is about the system error. As a customer I believe the acknowledgement letter to be the final, and expect the same amount to be given to me. Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 1 Comment | |
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+91 20 3030 5858 [Customer Care]
GE Plaza, Airport Road, Yerawada, Pune, Maharashtra, India - 411 006
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This is with reference to your complaint regarding surrender value for the policy number: [protected]. We would like to inform you that you have opted for “capital unit gain size one “is to meet investment.the surrender value of the policy will be equal to the value of the units calculated in the same manner as if the units are to be cancelled. The policy shall thereafter terminate upon payment of the full surrender value by the company. The policy will acquire a surrender value after payment of 3 full year’s regular premiums.as per confirmation from you, you have paid the total 3 premiums in the policy; however due to some technical error surrender quotation which was given to you was incorrect. However, the amount which is being to payable to you is correct as per policy terms and conditions. Hence there is no discrepancy in the amount payable to you.we regret any inconvenience caused to you.. For further reference your itrack no.10285541
Regards,
Bajaj Allianz