[Resolved]  Bajaj Capital — Life insurance policy

Address:

Kolkata, West Bengal

To

I have consented to accept ELITE ADVANTAGE Life policy from Bajaj Capital on Dec 2014 on the request of their agent who explained that -
1. I have to pay a yearly premium of Rs. 26000 7 years against which my sum assured would be more than 1, 98, 000 (I don't remember the exact figure as the policy is with my husband at Siliguri)
2. I shall start receiving money from 12th year and as such after 20 years on completion of the term my total return will be above 3, 32, 000.
2. There will be a medical insurance from MAX BUFA too giving family coverage of 2 lacs/year whereby any one of my family i.e. my husband, daughter and myself would get hospitalization benefit. If one requires less than 2 lacs, the balance may be claimed if any other member needs to be hospitalized in that year.
3. A holiday voucher from Bajaj Capital.
The agent at Siliguri office also showed from the internet the amount of sum assured and premium payable. I agreed to do it mainly due to the rider medical benefit. I also checked from Bharati AXA website that for my age (43 years) I would be paying Rs. 26000 to enjoy a coverage of Rs. 1, 98, 000+. Since we were not carrying check book I paid Rs. 26000 by cash against a temporary money receipt from Bajaj Capital. The agent Prabhat Tamang assured that we will be given the actual money receipt within 24 hours which is yet to be received.
I have received an sms from Bharati AXA confirming policy number[protected] on 9.1.15 follwed by a call on 10.1.15 from Bharati AXA office. I was told over phone that my sum assured would be Rs. 1, 72, 000 with same rate of premium which is not acceptable for me. I consented knowing that a total return would be 1, 98, 000+ and my family would be under coverage of a yearly Rs.2 lac medical insurance in addition. The caller told me that she will forward my feedback to relevant department to initiate the process of refund and I would be . Since showing dissatisfaction on the deviation from promise I have neither been called nor been issued any policy bond. I have been asked to contact Bajaj capital and its agent who is unreachable now.
Please, initiate action and do the needful so that my money (Rs. 26, 000) is refunded as soon as possible.

an grieved customer
Sriparna Bandyopadhyay
mob: +91 [protected]