| Address: New Delhi, Delhi |
Hi,
I have taken Bajaj Allianz SARVE SHAKTI SURAKSHA policy through CITIBANK and have been paying premium for the same @1500 pm for the past 72 months.(premium is deducted automatically from salary account)
Now I want to surrender the policy. I called BAJAJ ALLIANZ customer care but they were unable to solve my problem.
Two years ago, I've called to Bajaj Allianz CC, They told me if you've surrender this policy after 4 years then there will be no charges would be deducted Now, after 6 years where I had paid a premium of 1500Rs for around 72 months. So it comes around 108000 Rs. Now since i asked Bajaj Allianz to surrender my policy then they confirm for closure. Now, I was SHOCKED to hear that out of Rs. 105000Rs/- premiums paid by me, I will be getting around Rs. 95000RS/- back only.Come on, I was like what are you talking about? This was not communicated to me at the time of applying for policy.I started this policy when i was opening the Citibank Salary account .The then representative guaranteed me good returns after 4years.He was like, after 4 years you can stop this insurance and you will get good returns.So
now I am left in complete mess thanks to the these two Companies Citibank and Bajaj Allianz.I am fully depressed and sad, since i feel i am cheated by companies which i trusted. And the worst part is that there are many people who has suffered from this, and many definitely are.So iam quite sure you guys have realised it is best way to mint money from innocent people.
Also, if this was not enough, I called the citibank customer care people to ask about this. Now they're saying they're out of this matter . its about returning money.Seriously, i never expected this in worst of my dreams.
i expect some positive reply from u asap. At least expect my principal amount back)
Policy nUmber:- [protected]
Jun 9, 2018
Complaint marked as Resolved
Bajaj Allianz customer support has been notified about the posted complaint.
May 07, 2018
Updated by Vinny Bhandari Hi Team,
I opened a citibank account 6 years ago, and i was offered an insurance policy (Sarve shakti suraksha) from bajaj allianz, policy term being 10 years.
With a guaranteed 8% returns, and the locking period is 4 years.
It was 1500/- per month. My policy number is [protected] So till now i have paid 108000. But when i applied to surrender my policy the customer care representative stating that maturity amount would be only 95868.71 INR after deducting administration charges. Almost 13000 difference. And these deductions were not said while signing the insurance.
So coming back to surrendering policy. Now they are asking for Policy Certificate. However I didn't received any letter or certificate. Even I didn't signed any T&C before.
Even I called up the Customer Care many times before and every time they advice please don't surrender that policy before 4 years and after that you'll get the good return Now, after 6years I'm not able to get my actual amount.
After reading all the complaint threads here, now i am really thinking "am i going to get my money back" This looks like a fraud company to me.
I would definitely not recommend others to buy any insurance policy from bajaj allianz.
Verified Support
May 09, 2018
Bajaj Allianz Customer Care's response Dear Vinny,
We are sorry for the inconvenience caused. Please share your contact number and email address so that we can look into the issue and assist you further.
Regards,
Bajaj Allianz Life Insurance Team
May 14, 2018
Updated by Vinny Bhandari phone number - [protected] and Email Id is vinny.[protected]@gmail.com
May 31, 2018
Updated by Vinny Bhandari Didn't get any respond on this. Could you please resolve it ASAP
Mail. rpns.[protected]@gmail.com