[Resolved] Bajaj Allianz Life Insurance — fake details about policy | |
sir would like to bring my kind notice to you that, i had a fixed deposit of Rs 30, 000 with bajaj allianz ploicy no. [protected], last year i invested in century plus type of policy, i was said by your representative Mr Rajeeb Das from siliguri Branch that its one time investment, but few days ago i received an LAPSE INTIMATION letter providing me to pay the next premium amount of 30, 000 Rs, and the due date was 28/11/2008, infact when i got this investment after few days i went to UAE and was not aware of the terms and condition neither received the bond but the total deal between me and sales person was on trust, its a month ago i had come back and found that my one time investment was a life insurance for which every year i have to pay the premium, this is a serious breach of trust in this regard i had sent several mails to concern department but i never got a possitive assurance, neither they are cancelling my policy Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 5 Comments | |
Comments
i have deposited 75000 in unit plus what is our growth
After verifying the matter would like to inform you that policy is issued based on the proposal form filled and signed by you, where you have opt for ‘Century Plus’, with a regular mode & frequency selected as yearly with premium term of 10 years. In case of failure of the premium the following clause will be applicable to the policy. In the event of failure to make payment of Regular Premium and non-payment even within the grace period in the first 3 Policy Years: i) The Policy shall immediately lapse for all the insurance cover including the cover under all riders. However, during the period of lapse, the Policy shall continue to participate in the investment performance of the underlying Funds, subject to the deduction of all the Charges except the Mortality Charge and any Rider Premium Charge. ii) The Policyholder may revive the Policy by paying all due unpaid premium within a revival period of four years from the due date of the first unpaid Regular Premium by paying all due unpaid premium and the Company shall recover any due but unrecovered Charges except the Mortality Charge and any Rider Premium Charge, since due date of first unpaid Regular Premium, failing which the Policy shall stand terminated and the Surrender Value as on the date of termination shall be paid at the expiry of the revival period of four years. iii) If the Policy has lapsed and the death of the Life Assured occurs during this period, the Regular Premium Fund Value plus the Top Up Premium Fund Value, if any, as on date of receipt of intimation of death would be paid. Thus even if you are not paying the premium under the plan, the investment in to the market will continue. If the Policyholder does not opt to continue the Policy after the expiry of the revival period, the Policy shall stand terminated and the Surrender Value, if any as on date of termination will be paid to the Policyholder. We had a communication with you regarding the same in the past also. We have already replied the concerns dated 19-Feb-2009, 21-Mar-2009, and 03-Apr-2009. Also if you were not satisfied with the terms, we could have approached us within the free look period of the policy. We have sent your policy documents via speed post EW[protected] IN on 14-12-07
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+91 20 3030 5858 [Customer Care]
GE Plaza, Airport Road, Yerawada, Pune, Maharashtra, India - 411 006
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what would do
my name anil
phone no.[protected]