[Resolved]  Bajaj Capital — insurance policy their agent sold on behalf of exide life insurance

Address:

Nagpur, Maharashtra

Dear team,

I am writing to you as my last resort since i have been calling and following up with different team members of different organizations but no one has given any satisfactory answer so i hope i get the correct solution within 24 hours.
Kindly find the details of my case below.

Policy no.03789646

Policy holder name-mr. Lal prasad gurung

2. This policy was pitched to my father by mr. Mangesh-[protected] from bajaj capital, on 14th may, 2018 at bajaj capital office ramdaspeth, nagpur. When they called my father and mother separately they mentioned that you have got some gift in lucky draw and a surprise of worth rupees 1 lac insurance so please come together till 5 pm and collect it and while my parents were at the their office they said we will just check for your name and number and went inside to check if they got selected they will get surprise gifts, in few minutes he returned back and said yes your name got selected for it out of so many people.
While explaining the details of policy it was told that the premium of 45k is just 1 time premium and not yearly premium and by making the 1 time payment the benefits which we are getting is secured and sure shot job for both the children post a training completion at shankar nagar. And some medical facility for my father.

3. Because of the above mentioned commitments my father decided to go ahead for the policy and made the payment of 5k and a cheque of 40k.

4. When my father thought about it he realized there is some fraud happening here and hence decided to go ahead with the cancellation of the policy the very next day. Hence he dropped into the bajaj office and requested for the cancellation on which he was told that the cheque has already been processed and if it bounces from his end there will be consequences he will have to suffer. On which my father said you can keep 5k which i paid yesterday but i just need the cheque back or else if this is the case then what i need to do to get my cheque back so they said he will have to make the payment after which they will take care of the cancellation and help accordingly. So somehow he arranged funds taking gold loan and paid that amount and immediately they gave him the cheque back (Which was supposed to be sent further for deposition). So he was told the cancellation process will be processed only after 10 days.

5. We received a verification call from ho which was answered by my brother who informed them clearly that we are not interested to go ahead with policy.

6. On this mr. Mangesh called us and threatened my father if we say this on the call then they will not be able to help us in the cancellation of the policy so we need to say yes in the verification call.

7. Post this we kept on trying to get in touch with him and he kept on giving excuses that he is busy or not at work and never mentioned about free look period/cancellation policies despite knowing we need to cancel this policy from day 2.

8. Post which we spoke to customer care depts to go ahead with the same and also ms, rekha from bajaj capital ho spoke to my father regarding policy but we didn't get the clarity for the cancellation.

9. Post the expiry of the free look period mr. Mangesh suggested us to visit exide office and fill the form for cancellation which we did on 7th july 2018. But couple of days later on 16th july 2018 my father received a message that the free look period is expired hence there will be no cancellation.

Hence this is a clear cut case of fraud and false pretenses to sale the policy to us.in this entire period the trauma my father has gone through is a lot.
Kindly understand that he is 58 years old and doesn't keep too well and we also are not from a well to do family, hence expecting a quick response from your end along with refund of our paid amount of 45000/-.

Priya lalprasad gurung

[protected]/ [protected]

This is the mail i sent them which contains all the details about the fraud happened with us.