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Bajaj Allianz Capital Unit Gain Size One - surrender charges

 
30 Reviews
User
  lakhanbal
I went to chennai anna nagar branch of Bajaj Allianz where i was shocked after getting the reply for my query that the surrender charges for capital unit gain is coming to a tune of Rs. 6000 where am getting a benefit of Rs. 579.00 and it is around 55% of the capital units.
request you to kindly clear my doubt about ur calculations on surrender charges.
Complaint comments 29 Comments     Updated:
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Best Review
Hi All,

I completely agree with you, Bajaj guys are real cheater, they didn't told about any surrender charges at the time of issuance of the policy and if you see the returns my money is almost the same what i invested till today. I suggest not to go for any of the products from Bajajbajajallianz, worst company and worst products, and if you look at the charges they have ample of hidden charges, literally what you earned in span of 3 years it all has been taken by company in name of charges, so please don't waste your money by investing in the products of bajajallianz.

Thanks
 
Dear Lakhanbal,

Your complaint has been noted. Please drop in your contact details at life@bajajallianz.co.in or call us at:
Toll free numbers Standard STD rates apply
MTNL/BSNL 1800- 233- 7272 Tel (+91 020) 30587888
Tata 1800- 209- 7272 Fax (+91 020) 40111502
Bharti 1800- 103- 7272
Reliance 1800-3000-7272

Thanks
Bajaj Allianz Customer Care
customercare@bajajallianz.co.in
 
what is the surrender value? what is the latest NAV? policy No. 44642843. Policy commencement 23-3-2007
 
sir i am the policy holder of Bajaj Allianz life insurance co. my plan is capital unit gain size one. Policy No, 44642843. commencement on 23-3-2007. sir what is the latest NAV? and what is the surrender value? my mobile no 9869918048. My e-mail is kaushiksarwankar@yahoo.com
 
What is the surrender charge? My Policy No is 0069805406
Date of Commencement of the policy-28/09/2007
My name is Hemalata Behera
A
User
gmsm  
 
Even I am facing same issue. It was a surprise to me that after 3 years if disciplined investment in this policy, I am getting only 1.5% extra. A very bad decision by me.
 
Hi guyes,

I am agree with the upper comments given by the user related to bajaj alliance surrender charges for capital unit gain . I thik this is the worst policy i have seen till date where the surrender charges are more then 50%.

Please clear it why you are charging the 50% above on this policy. Please clear my doubt.
 
Really it is a cheater plan. I have also taken this plan. I think it was a big mistake in my life.
A
User
a12  
 
Bajajbajajallianz is simply bakwas...
D Jan 23, 2011 by
User
kkpanditi  
 
I have taken the policy in 2006. I have been continuing the policy till date. I have paid 4 installments of one lakh each. And the total fund value is 6.2 lks as of today, 24-Jan-2011.

The fund went into losses during 2008. This trend was noticed across all funds during the lows in 2008. But recovered since and it touched 6.5 lakhs when the markets were around 21k.

Thanks,
Kiran
N Mar 31, 2011 by
User
dudipallahanu New Unit Gain  - HYDERABD, Rangareddy, Andhra Pradesh, India
 

SURRENDER CHARGES - New Unit Gain

HI,
my name is hanumantharao, i had a policy no: 0090595926 in Bajaj. it complets 3 years locking period . i want to withdrawal my amount now. please send me the surrender charges while withdrawl the amount.

Regards,
Hanumantha Rao Dudipalla
contact: dudipallahanu@gmail.com
A Apr 14, 2011 by
User
gnp  
 
i become wise after my mistake by taking capital unit gain policy equity growth fund.(abosolutely my failure, not company failure).policy commencement 2007, but as per unit satement i have nothing more than capital value.also surrender charges are high.policy no.0059014622.after that bogus customer service.how i get rid from bajajalliaz.if such comments read by buffet, then he will reconsider the his decision to collaborate with bajaj
A Apr 14, 2011 by
User
gnp  
 
no any account statement at regular interval is baing received.policy no.0059014622
N May 22, 2011 by
User
navinms  
 
Please clear it why you are charging the 50% of the 1st annual primeum amt for CAPITAL UNIT GAIN SIZE ONE where as in some of the other policies for surrender in 4th year is as less as 17%.

Please clear my doubt.
N Aug 21, 2011 by
User
johnsonstepny Bajaj Allianz Capital Unit Gain Size One  - Zuarinagar, South Goa, Goa, India
 

Bad Service - Bajaj Allianz Invest Gain

The service by Bajaj Allianz is terrible. At the time of making the policy, they come home at fast as the Pizza delivery. But once we get the insurance done they never even bother.. I got my policy done in 2004. Inorder to pay the premium I got to travel 30+ kms. They do not have a agent nor any kind of service for the customers who stay far. Secondly though our phone numbers, mailing address and email id's are with them, they do not send reminder notifications.. No notices of policy lapse is given either. They wait for the policy lapse such that they can take more money as fine.. Thirdly, the surrender value is way below expectations.. i.e. 60% if surrendered within one year and 30% after one year.. I have paid a premium of 38,000/- and the surrender value is 11,400/-
Its a fix situation.. You got to accept the bad service as well still pay for the policy till the commencing date.

Do not go for Bajaj Insurance.......... LIC is better...
N Aug 23, 2011 by
User
Bajaj Allianz Bajaj Allianz Capital Unit Gain Size One  - Zuarinagar, South Goa, Goa, India
 
Dear Customer,

Please accept our apologies for the inconvenience caused.

We request you to send us your contact details policy number and the problem you are facing in details on help.support@bajajallianz.com & allow us some time to look into it and get back to you at the earliest.

Regards,
Bajaj Allianz Customer Care
N Nov 20, 2011 by
User
anilkumar pv  
 
Bajaj Allianze capital unit gain present surrender value of policy no: 0115397064
A Dec 5, 2011 by
User
sharath.C  
 
Yes this is really true...while taking the policy agents will not tell about the surrender charge after 3 years. which is very huge i.e. 56% of the premium as surrender charges. I have paid it for 3 years...where agent has written term as 20 years. After completing 20 years only - i will be given the total amount without any surrender charges.
Now the customers are not even getting...at least what they have invested.
This is really a big big fraud and cheating. ICICI Ulip is 100% better than this.
N Dec 5, 2011 by
User
sharath.C  
 
My doubt is when the locking period is for 3 years - then what is the point of not giving the full amount after completing 3 years.
N Jan 17, 2012 by
User
victoria.coelho1586  
 
I do not think this company will survive for long. People have started understanding theiw ways of doing business by hiding lot of facts from the customer. Their website is not that secure ans especially the chat system. I had experienced problems with their website and has emailed the customer care regarding this but did not receive a response till date. This shows what matters for Bajaj is just money and not the customers. Till the customers decide on the policy, the agents at Bajaj come behind u and irritate you to the core. But once they get business they really dont care. They do not disclose the disadvantages of policies.

I have a bajaj allianz policy under capital unit gain size one plan(commencemnt year= 2006) and I am not quite sure what to with the policy. I has invested 24000 for 3 years. When I check for the policy the amount after deduction will be 66000. Loss of 8000 and profit at all.

Can someone guide me on this.

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    Bajaj Allianz Capital Unit Gain Size One - surrender charges