[Resolved]  Bajaj Allianz — not attending to service

Address:

Tirunelveli, Tamil Nadu, 627011

R.Jim,
No.47-A, 6th Main road,
Kamatchi Nagar, Tirunelveli,
Tamilnadu – 627 011.
Mobile No.[protected]
………..complainant
Vs

1. The Managing Director,
Bajaj Allianz Life Insurance company limited,
GE Plaza, Airport road, Yerwada, Pune – 411 006.
2. The Branch Manager,
Bajaj Allianz Life Insurance company limited,
No.86, 1st floor, Indira colony, Opp., to FX Engg. Coll.,
Vannarpettai, Tirunelveli – 627 003.
Mobile No.[protected] / [protected] (landline)
……….Respondents

COMPLAINT

Sir,
I have availed a Life Insurance Policy with the 1st respondent through their Branch office in the year 2007 and my Policy No. being [protected] and the Fund Name being Equity Index Fund II. As per their terms and condition I have paid the mandatory premium of Rs.30, 000/- in three installments and my policy is live till date. On 08.07.2018, I received a phone call from the 2nd respondent requesting me to renew the policy for a further extended period of time. Owing to their request I marked my presence with the 2nd respondent office on 10.07.2018 alongwith the original documents and to my surprise my policy has not come up with an outcome as projected by them. Hence, I made a request to terminate my policy and to transfer the proceeds to my savings account. The person who was manning the 2nd respondent office tried to persuade me to continue with the policy by renewing the same for an extended period.
Since I did not yield to his request I was made to wait for hours together to be bounced back, on the ground that the particular person dealing with termination of existing policy was on leave and I was asked to come the next day. With lot of hope I turned back to the 2nd respondent office on 11.07.2018 to be bounced back again after a long wait for hours together with the same remarks, that the particular person dealing with termination of existing policy was on leave. Then on 12.07.2018 after confirming the presence of the concerned person I paid my visit to the 2nd respondent office only to be attended by B.Saravanakumar the Branch Manager who inturn was repeatedly insisting me to continue with the existing policy. Since I was firm in my stand the Branch Manager Saravanakumar requested me to come the next day such that my request would be considered. Again I marked my presence on 13.07.2018 with the 2nd respondent office to be attended by the Branch Manager Saravanakumar after a long wait of 3 hours., who repeatedly insisted me to continue with the existing policy. He even went to the extend of saying that, “renewing the policy takes only few minutes but termination of policy might consume hours together” and he also threatened that, “I will have to lose the privilege of a prime customer if I opt to discontinue this existing policy”. He was adamant to entertain my request to terminate the policy and to transfer the proceeds to my savings account.

Hence it is prayed that the matter be enquired and the respondents be directed to terminate my policy and to transfer the proceeds to my savings account and strict directions may be issued in accordance with the norms enumerated by the Insurance Regulatory Development Authority and thus render justice.

21.07.2018 Complainant
Palayamkottai.