[Resolved]  Bajaj Allianz — bajaj allianz insurance policy no. [protected].

Address:

Pune, Maharashtra, 411006

Please note that, I took Policy No. [protected] in July 2008 and paid total 3 lakhs rupees. I approached earlier many times your Pala office to close the policy, they were keep on telling me that they will pay the full amount after maturing the policy in July 2018. Based on this, I was awaiting for the maturity date and approached again in August 2018 first week for the matured amount. This time, they told me that the Policy has already matured and Maturity amount is Rs. 6, 42, 252/- and they will give me only Rs. 2, 14, 084/- now (1/3 part of maturity amount) and keep the remaining amount of Rs. 4, 28, 168/- with them and pay me around Rs. 1, 400/- to 1, 600/- as monthly pension. Further, they told me that they would have given the full amount together if I had come at least 2 days before the maturity date (but they never told me this earlier when I approached many times). Considering the interest of the holding amount of Rs. 4, 28, 168/- the monthly pension is very low (only 4 % interest approximately) hence, not acceptable to me.
I did not agree to this proposal and have not received any amount until today. I took this policy based on Bajaj Allianz’s agent who promised full amount plus pension after maturity. Hence, I want the full amount together now itself as per the agreement. I would not have taken this policy if I had a hint that the maturity payment will be this way.
Therefore, you are requested to release the full maturity amount (Rs. 6, 42, 252/-) together as single payment now itself.
Further, although the agent guaranteed 36 % yearly fund growth, the policy had never showed this growth and Bajaj Allianz has taken all the benefits from my 3 lakhs rupees within these 10 years. If I would have opened a fixed deposit with any bank, this amount would have got at least 10 lakhs rupees by now. I just took a wrong decision 10 years back and had taken a policy from Bajaj Allianz. I cannot afford any further lose in this regard.
Sincerely
Salimma Sebastian