[Resolved]  Bajaj Allianz — Surrender Value is high

Address:Chennai, Tamil Nadu

I have CAPITAL UNIT GAIN SIZE ONE plan of 20,000 Premium per year and i have paid for 5 years and my current Account value is Rs 109617.95, however when i saw the account summary for surrendering it was a shock.

Surrender Penalty applicable as on statement date is 53.87 % of the value of the outstanding Capital units.

why 53% surrender penality?
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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 Policy No. and e-mail-id on help.[protected]@bajajallianz.co.in OR [protected]@bajajallianz.co.in.

Regards,
Bajaj Allianz
I have mailed my policy # to the mentioned e-mail address.. Pls help to resolve ..Thanks
I am also have CAPITAL UNIT GAIN SIZE ONE plan of 10, 000 Premium per year and i have paid for 5 years and my current Account value is Rs 53711.

Surrender Penalty applicable as on statement date is 38.58 % of the value of the outstanding Capital units.

why such a high penalty when ICICIPru is charging 0-2% of fund value after 5 yr for such type of policy?

-Navneet

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