[Resolved]  Bajaj Allianz Life Insurance Company Ltd. — CITI Bank and Bajaj Allianz are openly cheating

Address:

Hyderabad, Andhra Pradesh

I opened a Citi bank salary account in Sept-2010 when I was offered for the BajajAllianz insurance policy linked with Citi bank suvidha account. They guaranteed 8% returns and 2 years lock period. They can I can come out of the policy anytime after 2 years. I opted for when they say I will receive the bond along with terms & conditions in few days after the enrollment and I can take back off it within a month if I am not OK with T&C and no penalty for that. But I received the Bond only after 2 months and that too after so many follow-ups. the bond is just 2 page doc with hardly 5 or 6 point under T&C. I am paying 2000/month and paid (33*2000=66,000/-) till date. After 2 years completion, I wanted to cancel the policy and called customer care. They say the lock period is 4 years now. If I still want to surrender, i will lose 40% of the amount I paid as premium. That is ridiculous. If I call Citi bank, they say they have no info to give and asked me to write to citi.[protected]@bajajallianz.co.in. I wrote a mail with all my detials. It has been 15 days and I am still waiting for their reply. I have not got any acknowledgement mail either. I kept on sending mails without any luck.

I decided to close my Citi bank also now. I want to get rid of the bank account and the insurance policy. I am seeing lot of complaints about this, but none of them say the problem is resolved.