I am the holder of policy (Invest plus) no. [protected]. I enrolled the policy in the year 2010, as the agent told that this was only 5 year term and you will get benefits. I trusted the agents and enrolled the policy and pay the first year premium. After paying the premium, i got the investment documents, its clearly mentioned that that policy term is 25 years. Then when i contact the agent he told that you just pay two premiums then we can surrender the policy and get the refund. I again pay the 2nd year premium. After that when i approach the branch / agent / customer care etc…. They told that if you want to surrender the policy you have to wait for 5 years. As there was some protocol with enable the policy to surrender and paid the refund accordingly. It is pertinent to mention here that, i am working in border security force (Bsf) and presently posted at far flung area of the country. Now today[protected] when i spoke with the customer care executive of bajaj alliance he told that “sir, we have tried to make contact with you and we sent a letter to you in the year 2012 for paying the third premium as per the policy terms, if you want to surrender you must have to pay the third term” on this i told him “okay, i am ready to pay the 3rd premium so kindly tell me how much i have to paid?” on this he told that “sir just a moment once i check the surrender details, then he denied that sir, as on date neither you can renew your policy nor you can get the premium which you already paid”. As on date i had paid rs. 58, 276/- (Fifty eight thousand two hundred and seventy six only) i. E. @ 29, 138/- x premium for the year 2010 & 11. As per the nature of service, it is also difficult for me to follow-up the case. Hence, you are humbly requested to surrender the aforementioned policy and refund the amount “whatever it will be after deduction as a penalty” at the earliest, please.
Jan 1, 2018
Complaint marked as Resolved Bajaj Allianz customer support has been notified about the posted complaint.
Verified Support
Nov 28, 2017
Bajaj Allianz Customer Care's response Dear Sir,
We regret the inconvenience caused to you. Please share your contact number along with your email address. Our team will connect with you soon.
Regards,
Bajaj Allianz Life Insurance Team.
Nov 28, 2017
Updated by ds84102962 Sir, My Mob. No. [protected] & mail. ID is [protected]@gmail.com
![Life Insurance Corporation of India [LIC]](/thumb.php?bname=1&src=life-insurance-corporation-of-india-lic.jpg&wmax=182&hmax=300&quality=90&nocrop=1)
First you misguided me that I have to wait till the RC transfer to happen eventhough I was ready to cancel the insurance and take a 3rd party policy.
Secondly, your email id ncb.[protected]@bajajallianz.co.in was bouncing
thirdly, you did not send the B-Extract to your back office that I sent to you. Refer to case 68336672 from Aug 23, 2017