[Resolved]  Bajaj Allianz Century Plus — cheating

Address:Bellary, Karnataka

I would like to bring to your kind notice that I had invested Rs. 25, 000 in Bajaj Allianz Century Plus in Nov 2007 and Rs.25000 in Bajaj Allianz Century Plus in Feb 2008 . At the time of starting the policy, it was told by your representative Mr Rajesh s/o Pandurangappa, Bajaj Allianz agent BellaryBranch that it is one time investment, but now dialy I am receving the PREMIUM RENEWAL letter asking me to pay the next premium amount of Rs 50, 000. But with this kind of breach of trust and false promises I've lost faith in the company. Kindly tell me whether and when I can withdraw the money, and what will the amount that I already invest in the fund. Kindly advise,

h.m.srinivasa.-[protected]
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Aug 13, 2020
Complaint marked as Resolved 
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Dear Customer,

May we request you to send us your complete contact details, Policy No. and e-mail-id on help.[protected]@bajajallianz.co.in OR [protected]@bajajallianz.co.in.

Regards,
Bajaj Allianz
i think company should think to give the minimum principal amount to the century plus customer's and it is sure that company will get a huge loss but customer's faith towards company will rise. first of all customer's will think why the company had launched this type of controversial product. so i request the higher authority to think something for your customers. As an educated citizen of customers i can say that agent not cheated to customers rather they are trained by the higher authorities. so there is nothing to argue, company's higher authority should think about this case.
I have made a Bajaj Allianz Century plus Life insurance policy in March 2008 by investing Rs 25000 yearly basis premium in Asset Allocation Fund. At the month of March 2009 when I inquire the Fund value, it shows 21 thousands something. Then I invested again Rs 25000 in 2009 and 25000 in 2010, so all total I have invested exactly Rs 75000.

The NAV value was Rs10 when I invested the money in March 2008 and after three years in March 2011 the NAV value became Rs13 although my Fund value is Rs 71 Thousands agains my investment Rs 75 thousands. When I inquire the Customer care, they are telling lot of Mortality Charges and Policy Admin Charges are deducted. When I asked them why such charges is big, they are telling since they are giving Rs One Lac 25 Thousands Life Coverage. How funny to give life coverage of 1 lac 25 thousands the Bajaj Allianz company deduct aprox 10, 500/= in three years agains my investment 75 thousands.

This Inurance company is continuously cheating the customer by providing controversial product called "CENTURY PLUS". I am surprise how IRDA authorise such organization to provide insurance to the citizens of India.
Complaint - Amounts to cheating

I had invested Rs.50, 000 in Policy No.[protected] on 18 June 2008. Your representative said that it is my wish to continue or keep as one time investment. Now I am getting frequent revival quotations. When contactated your office in Kota (Rajasthan) one Mr. Thakurmal ( Mobile No.[protected] ) says that 50, 000 already invested stands to Rs.32, 000/- and refuses to guide for withdrawl. Your company is becoming unpopular and this is against Business ethics. We will be forced to persue the case legally if necessary assistance as Customers is not looked into.

Kunal Bhan
1-Vallabh Nagar Extn.,
Kota
[protected]
I would like to bring to your kind notice that I had invested Rs. 25, 000 in Bajaj Allianz Century Plus in[protected] and Rs.25000 in Bajaj Allianz Century Plus in Feb 2008 . At the time of starting the policy, it was told by your representative that it is one time investment, but now dialy I am receving the PREMIUM RENEWAL letter asking me to pay the next premium amount of Rs 50, 000. But with this kind of breach of trust and false promises I've lost faith in the company. Kindly tell me whether and when I can withdraw the money, and what will the amount that I already invest in the fund. Kindly advise,

anil malhotra
policy no:-[protected]
ph.no:-[protected]
e-mail:[protected]@gmail.com
Bajaj Allianz in their in house training made it clear that the Century Plus Scheme is a Single Premium Scheme (i have the print out of their presentation). Many investors were cheated by the company in telling to sell the scheme as a single premium whereas, in reality, it is an annual premium policy. Since i am doing a PhD research in household investment behaviour, i befriended many investment agents and got inside information from them. My friend's mother invested Rs.3, 00, 000 of her money in this scheme and was a victim of this SCAM offered by the downright lowlife bloodsucking managers of BAJAJ ALLIANZ. I had approached the company's branch office in our city and submitted a letter which, even after 12 months, i had not received any reply of any sort. It is a very clear case of MISELLING and i will never invest any paise of my money in BAJAJ ALLIANZ. I am right now in the process of writing an OPEN LETTER to the Branch Manager of the so called BAJAJ ALLIANZ LIFE INSURANCE CO. LTD. They should, at least, make a public apology (which will make matter worse if they accepts of MISELLING the policy for which they can be penalised by IRDA) but which they will never have the courage to make.
i was s.m. of bajaj allianz at that time .it was told by the manager and trainer that century plus was one time investment . we invested in this plan .but now it showes very poor performance .what should we do .
I had invested Rs.50, 000 in Policy No.[protected]on 28 Jan. 2008. Your representative said that it is my wish to continue or keep as one time investment. Now I am getting frequent revival quotations. When contactated your office in shivpuri mr.gupta says that 50, 000 already invested stands to Rs.33, 000/- and refuses to guide for withdrawl. Your company is becoming unpopular and this is against Business ethics. We will be forced to persue the case legally if necessary assistance as Customers is not looked into.
Kindly tell me whether and when I can withdraw the money, and what will the amount that I already invest in the fund. Kindly advise,



applicant
mr.ashok singhal
mob:-[protected]
shivpuri (m.p.)
bajaj allianz life insurance
i had invest in bajaj allianz life century plus Rs.100000/-on dated 14.03.2008

but recenty check my policy status Rs.40141/- Dt.12.06.2012

please help me ...how to refund my principal amount...[protected]
I too invented Rs 25000 in CENTURY PLUS on 2007 and as promised to all my agent too told me that it is a one time premium. And now it shows, the policy is lapsed and requires Rs.50, 000 for revival. The current market value of the policy has come down to Rs. 17, 000. Please let me know if there is any way, at least I can get back my invested amount. Though I was thinking of revival but now seeing the reviews I am really in a dilemma weather to go for more investment or not. Has anyone got the assured sum after the maturity of the policy?
Very Disapoint Letter

I would like to bring to your kind notice that I had invested Rs. 25, 000 in Bajaj Allianz Century Plus (Policy no.[protected]) on 16/06/2008 . At the time of starting the policy, your representative was told it is 1 time investment plan but now daily I am receiving the PREMIUM RENEWAL letter/ SMS/ Call from you and asking me to pay the next premium amount of Rs 100000. But with this kind of breach of trust and false promises I've lost faith in the company (Bajaj Allianz). Kindly tell me whether and when I can withdraw the money, and what will the amount that I already invest in the fund. Kindly advise,

NOTE - it is a very bad experience in my life to invest my money in Bajaj Alliange, i never expect that babaj alliange did this type of cheating.

Milan Acharjee
[protected]/[protected]
Dhanbad
My Mother had invested Rs.50000 as a premium amount in 2008.Without any intimation they started deducting amount at the name of (Mortality charge regular+Policy Admin Charge Regular +Service Tax Charge Regular = Rs 600 ) per month continuously till current month October 2012.Now the sum assured amount has been reached upto 36000. I don't know what kind of Investment policy is this Century Plus.
I would like to suggest all the new customers and existing customers not to continue with this policy .This is totally fake.

-Amit
I had invested Rs 25000 in 2007 in century plus and I was told that I need to invest Rs 25000 in 2008 and 2009 and I need not invest any further amount but after that I receive SMS regularly to pay a premium of Rs50000.Now I feel cheated as the agent had made false promises. I would like that insurance people should give right information. My policy number is [protected] and I would like the exact amount I would get at this time.my Email is dr.[protected]@gmail.com.I would recommend not to invest in century plus
I too am the victim of false propaganda of bajaj allianz. I have invested Rs. 25000/- in the century plus policy in the year 2008 on the narration of policy agent who proposed the policy called century plus as a one time investment only. But i repeatedly received the premium reminders from Bajaj allianz and now the company has warned me the termination of the policy. Please guide.
[protected]
[protected]@hotmail.com
I'm also victim of the misleading propaganda of bajaj allianz. It seems that this is a systematically planned policy of this company to dupe the innocent investors. The quantum of this systematic fraud seems to be very big and all the defrauded investors must come together to fight against this fraudulent scheme. I also was approaced by one bajaj allianz agent who was known to me and convinced that 'century plus is a one time investment plan whereas it turned out to be an annual premium policy. This I only came to know on the receipt of policy papers. It was useless to talk to local branch people as they just came out with a standard answer that 'this is beyond our control'. When I wanted my Rs one lacs (two policies of 50000/- each) which I was made to invest by misleading means of the company representatives. The branch officials requested me to wait till the completion of 05 years by which time the amount would increase substantially but when I checked my account today the value of my money is 28152/- only. Now I realize that the number of people defrauded by this company is quite big than what I had thought. It is high time that we the duped investors need to come together to fight against this fraudulent company and convince general public not to get trapped by this fraud company. May be such defrauded/cheated investors have made some forum to claim their hard earned money. I[censored] have any such information kindly share the same and your valuable suggestions and guidance is also welcome please.
[protected]
[protected]@ymail.co.in
i am also victim of this policy by bajaj, i invested my after retirement money into it.
now bajaj allianz is giving me only 44% not even half amount i had invested.
Even after so many complaints why any action is not taking place.


[protected]@rediff.com
I am also is a victim of this company. In 2008 i have invested Rs 50, 000
During that time i was informed that I am entitled for insurance coverage and return of investment after 3 years at the NAV. Subsequently I was sent an information that due to non payment of subsequent premium insurance coverage is withdrawn. After 3 years when I wanted to withdraw the investment I was informed that I have to wait for 5 years as I have not paid next 2 premiums. In 2013 I was returned Rs 39000 and as per the letter issued by them the NAV is Rs 14.7411 against an investment value of Rs 10.3960.

However an amount of Rs 24266.65 was deducted as " Charges" . When I requested for the details of the Charges I was offered Rs 11000 by one person and Rs 23000 by other person (later reverted to 11000). to withdraw the complaint. Complaint number 39795061 dated 20.03.13 and 40000173 dated 27.03.13.

When I insisted for the explanation they are hiding with some lame excuse. It is really a woder how these people are able to manage IRDA and run the business. The most pathetic is these people are enlisted for operating pension schemes.

[protected]@bheltry.co.in

BHEL-TRICHY
I am a victim of your company. In 2008 i have invested Rs 50, 000
During that time i was informed that I am entitled for insurance coverage and return of investment after 3 years at the NAV by your employee Mr. Murugesan. Payment of subsequent premium is optional if insurance cover is required. Subsequently after ONE year I was sent an information that due to non payment of subsequent premium insurance coverage is withdrawn by letters. After 3 years when I wanted to withdraw the investment I was informed by your local office that I have to wait for 5 years as I have not paid next 2 premiums. In 2013 I was trying to contact Mr. Murugesan and could talk to him after about a month as he was very busy in meetings!. Meanwhile i was returned Rs 39000 and as per the letter issued by you the NAV is Rs 14.7411 against an investment value of Rs 10.3960.

However an amount of Rs 24266.65 was deducted as " Charges" . When I requested for the details of the Charges I was offered around Rs 11000 by Sheetal yadav and Rs 23000 by Mohanlal Mistry(later reverted to 11000). to withdraw the complaint. Complaint number 39795061 dated 20.03.13 and 40000173 dated 27.03.13.

When I insisted for the explanation and statement of accountsthey are hiding with some lame excuse. It is really a woder how these people are able to manage IRDA and run the business. The most pathetic information is you are enlisted for operating pension schemes for public sector employees. As I have informed in my last mail dated 16.04.13 I have to take up with suitable legal action

[protected]@bheltry.co.in

BHEL-TRICHY

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