[Resolved] Bajaj Allianz — after paying premium before due date; policy got lapsed

HariNair1985

Address:

Thiruvananthapuram, Kerala, 695024

"after paying premium before due date; policy got lapsed".

I have bought a life insurance policy for 15 years from bajaj allianz with yearly premium of 42880/-. I have started paying premium from 2015 december and continued paying premium for 2 years.

This year premium i paid via online payment option using kotak credit card on 8th dec 2017. Amount was debited from kotak credit card and debited to bajaj allianz life. Kotak credit card team acknowledged the payment was successfull and they mentioned amount has been claimed by bajaj allianz life insurance.

Total amount paid to bajaj = 42880 (Premium) + gst = rs 43845/-

Now the problem which i am facing for almost a month. This amount is not reflecting against my policy. I have raised multiple complaints from dec 10th till now to bajaj and probably had 50+ calls to customer care to verify this transaction. I have provided credit card statement, authorization code for this transaction, transaction reference number received from kotak team to bajaj customer care. Till now i haven't received a solid communication from bajaj on this matter. Only reply i get is (That too sometimes) we are looking into the issue and will get back.

Policy now shows "lapsed".

Most paining part is no reply from these guys and end of the day policy lapse and complete premium paid from 2015 have been lost.

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Mar 27, 2018

Complaint marked as Resolved

Bajaj Allianz customer support has been notified about the posted complaint.

Verified Support

Jan 24, 2018

Bajaj Allianz Customer Care's response Dear Sir,

We apologize for the inconvenience caused. Please share your policy number and contact details along with your email address. Our team will connect with you soon.

Regards,
Bajaj Allianz Life Insurance Team.

Jan 24, 2018

Updated by HariNair1985 I have raised multiple complaints to Bajaj team. I have no idea what happened to that complaint.
Check below...Should have all information.
Online Payment.\ Issue No. 70007821.
SRN number: 70327676.

Verified Support

Jan 25, 2018

Bajaj Allianz Customer Care's response Dear Sir,

Thanks for providing the SRN details. We have informed our respective team. They will get back to you shortly.

Regards,
Bajaj Allianz Life Insurance Team.

Jan 29, 2018

Updated by HariNair1985 I have raised this complaint with your team on 18 Dec 2017. Still am waiting for reply and wait is going on forever.
Shared Kotak statement on 22nd Dec 2017. I don't think you are really bothered about customers. It's my hard earned money. I went for policy to get tax exemption as well but i could not submit tax proof in my company and this will absorb 30% tax from the salary.

@ConsumerComplaint Team, Can you please guide me to file a case against this bogus company?

Verified Support

Feb 23, 2018

Bajaj Allianz Customer Care's response Dear Hari,

We believe our team has addressed your query. Kindly let us know if we can help you further. Have a good day!

Regards,
Bajaj Allianz Life Insurance