Bajajallianz Life Insurence Company — Careless Customer Care

Address:

Hyderabad, Andhra Pradesh

When I called Bajaj Allianz customer care on 15th January 2015, I was told that my total Net amount paid is Rs.100212 and that I would be receiving around Rs.88, 113/-, if I surrender my policy now. I have paid all my premiums correctly for the past 4 years and 4 months now (Since 30th September 2010), meaning I have paid Rs.2000/- per month every month, for 52 months, totaling Rs.104000/-. I purchased the policy on 03September2010 1. Would anyone explain to me why the Net amount was quoted as Rs.100212/- by the customer care rep? As told by your customer rep "since this was not a complaint/query/request, hence I cannot give you a ticket number". So I do not have a ticket number. 2. Why Rs.16000/- is going to be deducted from the NET amount? The leaflet mentioned that if my policy is 48+ months old then there would be 0% penalty. 3. Nothing was mentioned at the start of this policy or in the Insurance certificate that I received at the beginning of the policy? Are there any hidden charges involved which I am not aware of? 4. Besides, what about the return percentage that was promised, which should have been around 8.8%[protected]? I had raised a Ticket from their online tool which was closed without any intimation, Ticket#:[protected]raised on 20Jan2015) So I have raised another ticket#[protected]raised on 28Jan2015). I request the concerned authorities to take appropriate action against Bajaj Allianz so I can surrender my policy. Policy# - [protected]