[Resolved] Bajaj Allianz — SEBI banned Bajaj Allianz ULIP | |||
Hi, This is reference to the advertisement in Times of India on 10th April 2010 that "ULIP ban on 14 private life insurance companies". Bajaj Allianz is one among the 14 private insurance companies. My mother has to pay her preium which is due on 28.08.2010. We are not sure as what we should do. How do we claim the money what already we have paid. i,e two premium amount (Rs. 5600 x 2). Please find my policy details below: Policy Holder Name : RATHNASWAMI JANAKI Policy No :[protected] Product Name : Family_Assure Premium amount : Rs. 5600/- per annum Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 1 Comment | |||
Comments
I agree what is said above. As per SEBI's notification, M/s.Bajaj should wind up these policies from the market and refund the premium amounts to respective customers who had purchased these policies.without asking for it. It is now the duty of IRDA to through this responsibility on Bajaj to do in accordence with the directives of SEBI. If Bajaj is not willing to do this as is seen now, IRDA should take initiative and see that M/S.Bajaj follows the directives of SEBI.
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