[Resolved]  Bajaj Allianz Life Insurance — Cheating business

Address:

Pune, Maharashtra

I have invested in Bajaj Allianz life insurance company Rs 36000/- in three installaments.

End of 4 years I got Rs 28000/- fro them. They put many chanrges which were not known to us.

The mail communications with company is given below.

But they are offering only Approx Rs 25000/- by some fake calculations (like heavy mortality charge, policy admin charges, Surrender Penalty etc)



I have invested Rs 36000/-



I request your intervention please.



With Best Regards,

D.S. Patil || Mobile : [protected]




[protected][protected][protected][protected]

From: [protected]@rmpadmin.com [mailto:[protected]@rmpadmin.com] On Behalf Of Customer Care RMP
Sent: Friday, August 20, 2010 2:20 PM
To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ]
Cc: [protected]@bajajallianz.co.in; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com
Subject: Re: Policy number:60641511



Dear Customer,



Good Day to you...



With reference to your below email, please note that if you want to surrender your Policy, than contact to your nearest Insurance Company and make your request for surrender of Policy.

On Fri, Aug 20, 2010 at 1:57 PM, <patil.[protected]@tatamotors.com> wrote:

Dear Customer care,

We had enough discussion as given in trailing mail about your rules and
regulations.

I have completed 4 years after first investment made.

Total amount paid Rs 12000x3=Rs 36000/-

I want to withdraw my amount.

Please note that I don't want to hear about any hidden charges or any
cheating charges.

Request you to promptly return my amount (MEHANAT KA PAISA, PASINA KA
PAISA).

Even if you not provide any benefit to me, that is ok.

Please return complete amount Rs. 36000/-

Else, give me your CEO's contact number.

With Best Regards,
D.S. Patil, Mobile : [protected]
_______________________________________________

-----Original Message-----
From: [protected]@bajajallianz.co.in
[mailto:[protected]@bajajallianz.co.in]
Sent: Saturday, May 29, 2010 9:51 PM
To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC -
S ]
Subject: RE: Policy number:60641511



Dear Sir,

In reference to your below mail, we have tagged your request under I
track Number: 4990120.

You may do the fund switch for said policy you have five fund available
in the policy as below.

1) Equity Growth Fund 2) Accelerator Mid Cap Fund
3) Equity Index Fund II 4) Bond Fund 5) Liquid Fund

For further assistance kindly provide us your updated contact number.

For any clarifications or assistance, please feel free to contact us,

Thanks and Warm Regards,

Sanjay C.

Customer Focus Unit

Toll Free Numbers:

Tata Users[protected]
Bharati Users[protected]
BSNL Users[protected]
Reliance Users[protected]

Fax number [protected]
Email id [protected]@bajajallianz.co.in
________________________________________________________________________
__________________
From : patil.[protected]@tatamotors.com
Send : 29-MAY-2010 04:02:55 PM
Subject: RE: Policy number:60641511


I think you have not understood my question.

I am not interested in fund transfer.

I want to withdraw my amount after 17 Aug 2010.

My query is I should get at least what I have invested (Rs. 36,000/-).
Forget about the interest.

With Best Regards,
D.S. Patil

-----Original Message-----
From: [protected]@bajajallianz.co.in
[mailto:[protected]@bajajallianz.co.in]
Sent: Saturday, May 29, 2010 3:54 PM
To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC -
S ]
Subject: RE: Policy number:60641511

Dear Madam,

In reference to your mail, we have tagged your query under I track
Number:4790276.

As per your mail regarding the Fund switch please find the details for
same:

Fund Apportionment is a facility that allows a Customer to modify the
allocation of amount of future premiums into a different investment
pattern. Change of allocation shall not apply for accumulated funds.

Fund Switch is the facility provided to the Policy Owner to change the
investment pattern by moving fom one Investment Fund to another Fund
amongst the available funds under the policy. Fund Switch is Applicable
to accumulated funds only and not for future premium allocations. A
switch is permissible only for Unit Link Policies

If the customer is doing online fund switching and Apportionment, he
needs to remember the following points:

If the fund in which you want to switch is not present in your policy,
then kindly click on option Create fund In create fund you will be able
to change the apportionment & place a request for adding new desired
fund; this will take a day to execute the request Then kindly go to fund
switch & place a request for fund switch into the new fund

Fund switch is switching of amount/units between existing funds. Please
note that when you pay your next renewal premium your money will be
allocated as per apportionment specified by you at the time of policy
purchase & not as per any past fund switch (es).
If you want your future renewal premiums to be allocated as per
apportionment requested by you as per recent fund switch, then kindly
change the fund apportionment
accordingly.
Please feel free to revert.

Thanks and Regards,

Danish S.

Tata Users[protected]
Bharati Users[protected]
BSNL Users[protected]
Reliance Users[protected]

Fax number [protected]
Email id [protected]@bajajallianz.co.in

Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life
Insurance. It is our endeavor to serve yo as quickly as possible.

For further related queries or concerns mail us at
[protected]@bajajallianz.co.in .In case you are not satisfied by our
response; you may kindly escalate according to escalation matrix.

malthi.[protected]@bajajallianz.co.in

________________________________________________________________________
__________________
From : patil.[protected]@tatamotors.com
Send : 28-MAY-2010 03:19:10 PM
Subject: RE: Policy number:60641511


It is very unfortunate that I have invsted Rs. 36000/- and at the end of
the 4 years I am getting Rs. 25000/-Approx.

Any how I will recover balance amount from agent along with interest.

I am feeling bad not because of I am looser, but some body cheated me
easily.

With Best Regards,
D.S. Patil

-----Original Message-----
From: [protected]@bajajallianz.co.in
[mailto:[protected]@bajajallianz.co.in]
Sent: Sunday, May 16, 2010 2:37 PM
To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC -
S ]
Subject: RE: Policy number:60641511

Dear Sir,

In reference to your below mail, we have tagged your request under
itrack number:4790276.

Kindly accept our sincere apology for delay in replying and
inconvenience caused to you.

We would like to inform you that surrender charges is applicable on the
95 % allocated units that was invested in first year premium. The
capital units allocated in your policy was 890.625.

Do call us Toll Free No.: 1-800
[protected]free call from any network
mobile/landline) for the further assistance.

Your co-operation will assist us to serve you better!

Thanks and Warm Regards,

Umesh S.

Customer Focus Unit

Bajaj Allianz

Toll Free No.:[protected]
Fax Number :[protected]

Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life
Insurance. It is our endeavor to serve you as quickly as possible.

Our Customer Service Executives will revert to you shortly on your
email.

In case you are not satisfied by our respons; given below is our
escalation matrix. You may kindly escalate your case to the email id?s
below.

Sandeep.[protected]@bajajallianz.co.in



________________________________________________________________________
__________________
From : patil.[protected]@tatamotors.com
Send : 15-MAY-2010 04:00:52 PM
Subject: RE: Policy number:60641511


Surrender penalty % of which amount?

And clear me how much in my case?

With Best Regards,
D.S. Pati
l

-----Original Message-----
Fom: [protected]@bajajallianz.co.in
[mailto:[protected]@bajajallianz.co.in]
Sent: Saturday, May 15, 2010 3:12 PM
To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC -
S ]
Subject: RE: Policy number:60641511

Dear Sir,

In reference to your mail, we have tagged your query under I track
Number: 4790276.

We deeply regret the inconvenience caused to you.

As per our telephonic conversation, hope we have cleared your query.

You have opted for "Capital Unit Gain"; the policy premium term is of 20
years.

The annual premium allocation is 95%, the allocation rate for all top up
premiums is 98%.

The unit-linked policy has three years of lock in period. After three
years, customer gets facilities of premium holiday, partial withdrawal,
or surrendering the policy.

The premium paid by customer is invested in stock market. The stock
market is volatile.

The surrender charge is applied on Capital Units only and r
ecovered by the redemption of Capital Units, please check the below
given surrender charges details:

Year Surrender Penalty
Completion of three full policy year: 56%
[protected][protected]-- 54%
[protected][protected]---- 52%
[protected][protected]-- 49%
[protected][protected]---- 47%
[protected][protected]---- 44%
[protected][protected]- 42%
[protected][protected]--- 3%
[protected][protected]-- 36%
[protected][protected]-- 32%
[protected][protected]---- 29%
[protected][protected]- 25%
[protected][protected]--- 22%
[protected][protected]--- 18%
[protected][protected]---- 14%
18---
[protected][protected] 9%
[protected][protected]--- 5%
[protected]
[protected][protected] 0

The "Capital Unit" is a unit allocated in respect of Regular Premium,
payable during the first policy year.

Thanks and Warm Regards,

Shivangi T.

Customer Focus Unit

Toll Free Numbers:

Tata Users[protected]
Bharti Users[protected]
BSNL Users[protected]
Reliance Users[protected]
General Insurance:[protected]
Fax number [protected]
Email id [protected]@bajajallianz.co.in

Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life
Insurance. It is our endeavor to serve you as qickly as possible.

For further related queries or concerns mail us at
[protected]@bajajallianz.co.in .In case you are not satisfied by our
response; you may kindly escalate according to escalation matrix.

1) vaibhav.[protected]@bos.bajajallianz.co.in

2) Sandeep.[protected]@bajajallianz.co.in