Bajaj Allianz Complaints & Reviews

Dear Sir / Madam,

I am Amit Madhusudan Adkar Has applied Insurance Policy With Bajaj Allianz on 02/01/2009 & The Executive came and explained me all the Details of the Plan.........With my Prior Interest in This Plan I have applied for Policy For Sum of Rs 12,000/- P.A

I made payement by Cash But till date i have not received my Policy Documents ........But I have received Premium Due letter after 1 year

At the time I got my Policy number...............

My Policy Number :[protected].................

Before that I visited Branches of Bajaj Allianz..............i.e Mulund, Vashi & Andheri...........At that time they Asked for First Premium receipt which was not provided by Bajaj Allianz Executive

After receiving Policy number i visited all the Branches making a complaint for Policy documents,,,,,,,,,,,,,,But they have not cooperated with me

As i was not satisfied with the services & plan benefits........As executive explained me the only charges of 5% but when I enquire in (Vashi Office) Fund value the charges were 80%....which is totally a misdealing of Plan

So with this kind of plan & service of the company.... I requested them immediately to cancel the policy............but they denied by giving me some kind foolish reasons i.e Once you will receive policy documents...... we will take request for cancellation & they replied you will get full amount of Rs 12,000/-

But when Duplicate policy document comes to Vashi Branch they denied for giving me original documents....also denied for Cancellation of Policy & instructed to pay premium dues..........And replied we will not cancel policy....we cant do anything you may do whatever you want...at that time I consulted with my Lawyer....He asked me to launch complaint with IRDA....

As I am now facing Financial Problem......kindly help me to get this problem solved As soon as possible

My address is :- Pancharatna CHS, Room Number :- 26, Juvekar Raod, Bhandup Village, Bhandup East Mumbai :- 400042
Landmark :- Near Matoshree CHS

Contact Number:- [protected]

This complaint is against

Bajaj Allianz General Insurance Company Ltd.
Ground Floor, 32/2, Ashoka Plaza,
Next to Weikfield Company, Nagar road,
Pune – 411014
By
Hemant Kumar Shrivastava
Shivaji Nagar, Amkho Lashkar Gwalior, MP.

In reference to

Policy No. OG[protected]-00001923
Imdcode : 10013719
Insurance plan chosen: StudentEliteGold(US$2Lac)
(Ref Notification no.[protected]

I have taken above mentioned policy from Bajaj Allianz when I went for higher study in Germany (from August 2009 to July 2010). This policy not only covers health but also personal liability. During my stay in Germany I accidentally damaged the carpet in my rented apartment for which company from which I got the apartment on rent claimed 3208.07 Euros from me. Considering me as a student they only claimed 1604.03 Euros.
I provided following documents to Bajaj Allianz
1. Filled Personal liability claim form
2. Claim for compensation from the FacilityServices Hannover, Germany (from which I took apartment on rent in Germany).
3. Invoice details to rectify the damage by a separate company in Germany.
4. Photographs showing the damage on the carpet in the apartment
5. Passport/Visa copy (country entry and leaving details)
6. Rental Agreement (According to German Court of Law)
I was covered against any personal liability claim during my stay in Germany (by StudentEliteGold policy from Bajaj Allianz). Even though I was covered under the policy, Bajaj Alllianz rejected my claim for two reasons.

1. Bajaj Allianz was not informed before signing the rental contract with German Agency for rental accommodation.
2. There was no foreign court involved
I insisted that my claim is very well within the policy due to following facts.
1. Policy document nowhere explicitly mentions that I needed to inform Bajaj Allianz before signing any rental contract. Since I went for study abroad, it is very much understood that I would be living in a rented apartment. Almost all students who go abroad for study do stay in the rented apartment and for which they sign rental agreement. Since policy was for my entire stay in Germany, it has to cover my stay in rented apartment. If it is not then policy is misleading and incomplete for the student’s requirement in foreign land. According to section F #6.2 and 6.6.8 in the policy document claim against rental property damage should be very well under the scope of policy.
2. As far as intervention by foreign court of law concern, I have provided all necessary documents, according to procedures followed in Germany. I have also offered Bajaj Allianz to confirm the procedures with their German branch/counterpart. I also offered them to have talk with German agency from which I took apartment on rent. I consulted Bajaj Allianz Manager at Jaipur office, from which I bought the policy, and came to know that my claim should be very well admissible. Besides other necessary document, I provided copy of rental contract (legal from the German rental law perspective).

Based on my above arguments Bajaj Allianz accepted to review my claim. Next time they argued that I should have informed the company about rental contract while I was buying the policy. They said that premium term would have varied accordingly. It was completely baseless argument. They showed that they just do not want to pay my claim. When I insisted that their argument is baseless, as it is obvious for any student, going abroad; to sign a rent agreement and it should be well within the policy. On my argument they offered partial payment but not full, that too after many months of my filing the claim. When I re-insisted that according to policy document there is no reason for declining the full claim they denied me my claim.

I went for higher study on loan and after coming back to India I didn’t have job for many months. I not only face financial difficulties but also faced mental agony due to non acceptance of my genuine claim by Bajaj Allianz. I filed my claim in August 2010 and this is April 2011, such a long time for claim processing and finally denying the claim has caused lots of mental and psychological pressure on me. I belong to middle class family and it is very tough at my end to hire a separate lawyer to file a case against Bajaj Allianz.


With the help of this forum, now, I demand reimbursement of full claim amount (1604.03 Euros) and due compensation against mental and financial suffering caused by Bajaj Allianz. This policy has not proved friendly to students going abroad for study. I have already paid 1114.5 Euros to German company and rest 489.58 Euros are still need to be paid by me.


Regards,

Hemant
[protected]@yahoo.com

Hi,

I had a a misguidance by an agent of Bajaj Alliance. He said I would have to pay the premium for three years and then would be able to get double the amount, I agreed to it and paid 10,000 each for three years and now it's been 5years and I hear that the policy was made for 20yrs and I have to pay the amount for twenty years which is frustrating, and being a girl it would be not possible for me to pay annual premium of 10,000 per year. Please help resolve my issue and guve me my 30,000 (3yrs premium paid and with interest) back to me or provide any solution to me.

I WANT ANYBODY TO LOOK INTO THIS MATTER IMMEDIATELY PLZ

Regards,
Policy Holder's Name :- Rituka Sharma
Policy Year- 2006
Policy Number :- Donot remember.
DOB :- 8th Feb 1985
alternate email ID :- [protected]@gmail.com

Hi,

I need to complain about Bajaj Allianz who have put me in a wrong policy that is totally fake. Every time I call up the call center they give me different policy details and when I ask them to cancel the policy they cut the phone or start talking in a rude manner. Sometimes they tell me the lock in period is 10 years and some times they say its 1 year and at other times 2 years. Once its a group policy and at other times its an individual policy. Once there are no interest rate and at other times the interest rate is 13%.

I have totally been cheated and I want to get my policy cancelled. Can someone please help out to get rid of these people.


Thanks,
Harshit
+91-[protected]

Dear sir,

I am writing this complaint in regard to the customer service I received from Bajaj Allianz Life Insurance office at SCO- 139-140, Ist floor, Sector- 8 C, Chandigarh.
I called them to check the policy details(maturity amount, date and other information I needed) from their customer support at Sec- 8C Chandigarh branch. My sister has her life insurance policy taken from this office itself in 2008, policy number- [protected]. We took this policy for 10 years and paid 3 years premium. I wanted to confirm the details from Bajaj's Office, as my father took this policy for my sister and he is no more. So, we do not have any information regarding the policy benefits and other terms.

I called the Bajaj office Sec- 8C, Chandigarh on 1st April, 2011 at 1:15PM and someone named "Suneeta Dogra", designation-CSR picked the call. While I was asking regarding the required information, she was talking rudely and the people out there were giggling and laughing in between. They were so unprofessional and didn't even provide the information correctly and due to frustration I disconnected the call. When we call there head quarters for the information, they told us to call the local office(sec-8C, Chandigarh) for more information. Why the hell they sell the policies if they can't provide any future support to their customers.

We are the customers and we have the right to information of everything, specially for the things for which my family is paying such a amount.

Now can I know from where should I get all the information that I need for my sister's policy?

Regards,
Rashmi
[protected]

Dear Sir,

I have taken bajajallianz capital unit gain policy in year 2007 & My policy no is 3966475.

I have opted for maximum exposure to share market option. The return till date is less than 4%, which is very very low. When I expressed an interest for withdrawal, company informed me that they will deduct around 54% of my premium amt as a surrender charge (which is very big amt in comparison to the return from this policy).

This really surprise me as while taking the policy Bajaj Allianz agent & sales officer told me that there is no surrender charges on policy after completion of three years of policy. Also, when i asked them to give me a copy of policy before taking a policy so that i can read/understand all the term & condition & then think to invest, they told me that they can;t give me policy document before purchasing the policy. I trusted their words & taken the policy.

Now, I feel that I have been cheated by company sales officer & agent. I have submitted a complain on company website regarding the cheating by Bajaj Allianz sales officer & Agent & requested them to waive of the surrender charges (my complain no is[protected]. In reply they inform me that agent has been terminated & they can;t waive the surrender charges.

They didn’t utter anything abt the false information given by company sales officer & they feel that Bajaj Allianz is not responsible for such kind of cheating by Bajaj Allianz’s sales officer & agent.

Request you to do the needful.

Looking for a solution and waiving off the surrender charges (which were never told at the time of selling the policy).


Regards
Mehul Gandhi
[protected]

Dear Sir/Madam,


I submitted my policy surrender request at your local office in Shimla and received an acknowledgment through email showing around 8000 /- as surrender charges . The principal amount has reduced by 12000/- in 3 year.When I asked option of partial withdrawal it was not there. You and your local agent has total ruined our investment plan and misguided us at all levels.

It is surprise to see that after 3 years my fund value is reduced to Rs 47242 /- deposited 3 year back. Infact, your local agent misguided us and told that we can opt this policy for single premium and on lump sum basis. So we thought to deposit the amount as single premium. We have clearly told him that this is to be treated as Mutual Fund after one year as we do not want any insurance benefit thereof. So, we took this policy in the name of our daughter 'Simran Gohan'. But from the statement it looks that you are continuously deducting the charges/units and number o[censored]nits has reduced to great extent.

The whole purpose of this investment is being foiled by your company and your illiterate agents.

1. The local agent told us that after one year the amount will treated as normal Unit fund and no charges will be deducted from it and after 3 years we will get it back along with prevailing unit value of fund at that time.

2. and After one year there will be no deduction, no need to pay premium , no insurance benefit etc.

3. We got trapped in his words and now feel being cheated by your company.

If the process of this deduction goes on then by the end of three years it has reduced well below the principal amount.

You are requested to do the needful and give my hard money back at the earliest.

It's surprise to see that your local agents don't have thorough knowledge of your policies and they misguide many small investor like me. There only aim is to fulfil their targets irrespective of telling policy loopholes.

Looking for a solution and waiving off the surrender charges (which were never told at the time of selling the policy) from your side.

Sincerely,


Encl: Fund Value alongwith Acknowledgement
Surrender Request Letter submitted at your local office in Shimla

Sanjay Kumar
Principal Systems Analyst
National Informatics Centre, 6th Floor
Armsdale Building, H.P.Sectt. Chotta Shimla
[protected]

Dear Sir

My Mahindra Scorpio Vehicle No. MP09 V 6349 is insured by police no. OG[protected]-00005435 itrack number:7580601. is met with an accident before six months on date[protected] in Chindwara in Madhya Pradesh.
From past six months their is no settlement from the Bajaj Allianz group for this vehicle, the subject is dealt by Mr. Harsh of the group, the vehicle is standing in an private auto garage in Indore, for which i am paying.
I had already opted for the total loss of the vehicle but from past five months the insurance company hasn't payed much attention in this regards.
The total insured amount of vehicle was Rs.2.09 Lks but the insurance company want to pay me Rs5000/- only as full settlement amount. for which i denied to the company person Mr. Harsh. after which i am getting threatening calls regarding the vehicle.
Also the company is blaming me that the engine/ tires/ battery is replaced. so we cant pay you, Which is an unsupported allegation.
Also as the vehicle is standing in an private garage (for which i am paying)


Kindly do the needful at earliest.

Regards,
Manish Chopra
Indore
M-[protected]

Hi all,
We invested in mutual fund in which we had to pay Rs. 50,000/- every year for 8 years. we would get double the amount after 8 yrs. Now that we had to withdraw our money for some emergency after 3yrs, the amount had to be Rs. 1, 50, 000/- We instead of getting the said amount, we got Rs. 30, 000/- less. Our money was with them for 3yrs and what did we get?? Not even principle amount, we got less than that. If we keep our hard earned money in bank, we would atleast get principle amount with interest amount. These mutual funds agents never speak about risks involved in it. Bledy greedy agents. Dear people, please dont invest in mutual funds because the return depends on the market risk. You never know. So these mutual fund agents, mutual fund plans and mutual fund companies are totally fraud. We have experienced it. believe it.
Thanks

Dear Sir/Mam,

Myself Paras Bareti I was working in Bajaj Allianz Staffing solutions in Dist- Washim ,Maharashtra ,my employee code was BL02377, I have dispatched my PF Withdrawal form on 7th JAN 2011 But till date I have not received my PF amount .Kindly do the needful as soon as possible

Name - Paras Bareti
Emp - Code BL02377
PF NO - MH/PUN/300862/7632
Mobile [protected]

SIR ,
I,TUTUL MONDAL OWNER OF A TATA INDIGO MANZA,A HAVE MADE AN ACCIDENT ONE MONTH BEFORE ON NH2 ,MY CAR CRASH WITH A TRUCK AND AFTER THAT FOR TRYING TO CAUGHT THAT TRUCK I DRIVRD MY CAR 15 KM APPROXIMATELY,AT THAT TIME SOME SMOKE COMES OUT FROM CAR BONET,SUDDENLY MY CAR WAS STOPED,I CALL TATA SERVISE CENTER THEY CAME AND TOUCH MY TO WORKS SHOP.I HAVE A BAJAJ ALLIANZ INSURANCE FOR MY CAR ,BUT WHEN INSURANCE INSPECTOR CAME AND SEE MY CAR,THEY SAY THEY ARE GIVING COMPENTATION FOR EXITIRIOR DAMAGE ,THEY DINIED TO GIVE ANY CLAIM FOR ENGEEN,BECAUSE THEY SAY I DRIVEN MY CAR CARELESLY AFTER ACCIDENT,SIR I ASK U,WHAT SHOULD U DO ?AFTER ACCIDENT IF MY CAR IS MOOVING SMOOTHLY,OVIOUSLY I WILL DRIVE MY CAR TO SERVISE STATION.THEY SAID AFTER THAT ACCIDENT MY CAR COOLENT IS LIKED AND ENGEEN WAS HEATED EXTREMLY AND SEASED AND I HAVE TO SEE THE LIGHT WHICH INDICATE ENGEEN IS HEATED OR NOT ON THE DASH BOARD,BUT AS FAR I REMEMBERED THER WAS NO LIGHT ON DASH BOARED,BUT FOR THIS THEY ARE DINED TO GIVE ANY MONEY,ANY TATA MOTORES ENGEENER SAID I HAVE TO PAY APPROXIMATELY 200000 RS AND TATA MOTORES SAID THEY ARE NOT RESPONSABLE FOR THAT,SIR I AGAIN ASK U,IF CCOLENT IS LICKED FOR ANY REASON AND MY HEAT METER IS DAMEG THEN A CAR WORTH 500000RS IS DAMAGED?AND I DONOT GET ANY DAMAREG FROM ANY BODY?THEN WHY I PURCHES AN INSURANCE WORTH 14000RS?SIR PLEASE PLEASE PLEASE HELP ME

I have CAPITAL UNIT GAIN SIZE ONE plan of 20,000 Premium per year and i have paid for 5 years and my current Account value is Rs 109617.95, however when i saw the account summary for surrendering it was a shock.

Surrender Penalty applicable as on statement date is 53.87 % of the value of the outstanding Capital units.

why 53% surrender penality?

POLICY DOUMENT OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED REGISTERED FOR DISPATCHING VIDE SPEED POST NO EM[protected]IN & RECEIVED AT GAHZIABAD H.O BUT NOT YET DELIVER TO THE CUSTOMER MR. CHANDRA MOHAN WADHWANI
S/O HASSANAD WADHWANI
53 GUPTA COLONY
G.T ROAD
GHAZIABAD U.P
MOB NO. [protected]

PLEASE ARRANGE FOR DELIVERY URGENTLY .

Name SUDHIR M.PAWAR

Policy Number 0G[protected]-00009024
My Complaint MY CLAIM WAS DENIED BY Bajaj Allianz, CLAIM NO.0C[protected]-00005572 DUE TO NO CLAIM DISCOUNT 20% OFFERED BY Bajaj IN EXISTING POLICY,THE SAID DISCOUNT WAS NOT ASKED BY ME,AS I ALREADY TAKEN A CLAIM IN PREVIOUS POLICY & I AM WELL AWARE ABOUT IT.THE PROBLEM IS THAT OUR DEALER "KING FORD,SURAT"INSISTED & OUGHT TO TRANSFER POLIY FROM RELIANCE TO BAJAJ AS "THEIR TIE UP TO RELIANCE NOT BETTER & ASSURED ME BETTER SERVICE IN BAJAJ" THE INFORMATION REGARDING NCB MAY HAD BEEN PROVIDED BY KING FORD,SURAT TO Bajaj,NOT FROM ME,AS KING FORD HAVING VEHICLE HISTORY & CLAIM DETAILS FOR PREVIOUS YEAR,THEN WHO IS RESPONSIBLE REGARDING "WRONG NCB DETAIL"THOUGH IT WAS PRIOR RESPONSIBILITY TO PROVIDE CORRECT INFORMATION BY KING FORD & TO CHECK WHETHER IT WAS CORRECT OR NOT BY Bajaj SIDE" Bajaj OFFICE SENT ME 3 LETTERS FOR CLAIM REJECTION AND ASKING CLARIFICATION? AND NCB RECOVERY.
THOUGH THERE IS NOT MY FAULT,I AM READY TO PAY OF NCB 20% WHICH WAS WRONGLY GIVEN BY BAJAJ(EITHER DUE TO INFORMATION PROVIDED TO BAJAJ BY KING FORD OR NOT PROPERLY CONFIRM BY BAJAJ) BUT BAJAJ SHOULD PASS A CLAIM FIRST.....?

I AM A BOND HOLDER OF BAJAJ ALLIANZ LIFE INSURANCE IN WHICH I HAD PAID SINGLE PREMIUM.UNFORTUNATELY I WAS UNABLE TO PAY AFTER THAT.SO PLEASE GIVE ME SOME SOLUTION REGARDING MY POLICY.


MOEEDUL HASAN RIZVI
MOBILE NO ;[protected]

Dear Si/Mam,


I was invest in the BAJAJ ALLIANZ UNITGAIN PLUS GOLD policy .At the time of policy application form sign Company sales manager Mr.Nitin Singhal state that you have to pay only 3 year premium in this policy & after that you can withdrawal the total amount.Now I have complete 3 years.when I was contact at bajaj allianz muzaffarnagar branch office they says that if you will surrender the policy Company will charge 48 % of first premium.

Now I come to know that your sales manager given wrong statement to me.So plz tell me where should I go.I really need money at a time.
other details are as follows.

Name-Anuj kumar tyagi
Policy no-[protected]
Premium amount-Rs.12000 Yearly



After talking his customer care executive, they send a surrender chares table.Policy Year------Surrender Charge at Percentage o First Years Annual Premium
4th[protected][protected]
[protected]%
5th[protected][protected]%
6th[protected][protected]%
7th[protected][protected]%
8th[protected][protected]%
9th[protected][protected]%
10th[protected][protected]%
After 10th Year[protected]----- No Penalty

but in my policy bond their is no table shows.they only prient these lines.
i) If any due Regular Premium is not paid within the grace period in the first three policy years, the Surrender Charge would be 60% of the first years’ Annualized Premium
ii) If first three years Regular Premiums have been paid in full, the Surrender Charge would be as follows: [1 – (1/1.10)^N ] * First Years’ Annualized Premium where, N is 10 years
when I ask agent he revert that this is nothing.I was unable to evaluate the formula.again I ask to sales maanger, he reverts the same statement.

Respected Sir,
i'm Tina. my policy no.[protected] & i want to know about the details of my policy till date.

Dear Si/Mam,


I was invest in the BAJAJ ALLIANZ UNITGAIN PLUS GOLD policy .At the time of policy application form sign Company sales manager Mr.Nitin Singhal state that you have to pay only 3 year premium in this policy & after that you can withdrawal the total amount.Now I have complete 3 years.when I was contact at bajaj allianz muzaffarnagar branch office they says that if you will surrender the policy Company will charge 48 % of first premium.

Now I come to know that your sales manager given wrong statement to me.So plz tell me where should I go.I really need money at a time.
other details are as follows.

Name-Anuj kumar tyagi
Policy no-[protected]
Premium amount-Rs.12000 Yearly

sir
my husband was an employee of bajajalliancelife insurance company from2005 feb to2007feb .his employee code is 74621 and opus code is [protected].he was asm in pattambi branch.he got his gratuvity in2007. but his pf is not given. he expired on 15/7/2009. so please kindly take the necessary steps to allot me the same.
thanking you
yours faithfully
sailaja jagadeesan
my emil id is [protected]@yahoo.in

Non responsive.Claim settlement is nightmare. 5 months still issue persist.

I had met with an accident on 21 Oct 2010 where my car sustained major levels of damage.

The Car insurance is with "Honda Assure -Bajaj Allianz Insurance" and the Policy Number: HBA/00000861

As per the Policy, the Car's IDV value is Priced at Rs. 9,06,300
Which leads to the Total Loss cut off cost (75% of cost) of : Rs. 6,79,725

The issues and sequence of events that I had faced that has led me to write this mail to you are listed below:

1) An Estimate of 7,10,885 Rupees was shared by Pearl Honda dealer with Honda Assure -Bajaj Allianz Insurance as the initial estimate for cost of repair.

2) Honda Assure -Bajaj Allianz Insurance had appointed a surveyor - Mr Kishor. The Surveyor and Allianz contact person had denied the claim for Total Loss case and the dealer estimated amount that was presented to them by Pearl Honda. Mr. Kishore (Surveyor) presented a revised estimate of around 3.50,000 as the cost of repair and this was presented for insurance approval. The request for total loss was denied by surveyor and Allianz insurance contact person via phone.

3) My share for repairs (against depreciation charges) was communicated as 1.25 lacs and upto 1.50 lacs.
4) After discussing the case with Bajaj Allianz Insurance and getting assurance from workshop point of contact and getting assurance from both of them that the numbers are correct and repairing the vehicle is best way to proceed, I had given a go ahead for the car repair in November 2010( please note that it has already been a month from the time the car was submitted to reach this point).

5) 5 months later and numerous phone calls and emails later, I still do not get any updates from either the dealers nor the insurance company on the progress of work. After a lot of stressful phone calls I am informed that the amount to be paid by me has now increased to nearly 2 lakhs and the repairs of the car are still not completed and issues still persist and Pearl honda had called in engineers from Honda india to help in resolving the issues.

6) With all the work done, the amount to be paid by insurance has also increased considerably by this time.
7) After numerous attempts at trying to resolve the outstanding issues, Pearl Honda and Honda india came to the conclusion that the Transmission unit (Item cost of about Rs. 3,91,000) needs to be replaced and this had been communicated to Bajaj Allianz.

8) Current status: Received a reply from Bajaj Allianz (please see the email chain below). They have questioned assembly of gear box and the decision and workmanship of Honda in this matter.

After adding suggested transmission unit, the cost of repair is going to come to -- 8,75,000 which is very close to the car's IDV value. At this point, Honda's stance is that the transmission unit needs to be replaced in order to fix the car and Bajaj allianz is taking the stance that it is unnecessary and this replacement came into being only because of the incompetence of the dealer engineers.

During this entire 5 months (and now close to 6), I have not been getting any proper information out of the people involved. No regular communication or advice. During my busy day at work, I am forced to make several phone calls in a day and send out numerous emails asking for updates. Despite all this effort, I am disappointed to say that the response has been close to negligible. Further more I have to make calls to both sides and coordinate between the dealer and the insurance agency. Clearly this is not something I believe is the responsibility of car owner here. These should be done between the dealer and the insurance agent as part of their work process.

I am even more infuriated by the lack of customer centric service being provided here. The agency is very proactive and helpful when it comes to renewing the policy and in situations where the money is to be paid by me towards them but, when put into a situation, what I am seeing is a very cold approach in servicing their customers.