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[Resolved]  Bajaj Allianz Life Insurance Company — Worst Customer service

I had taken a life insurance policy around 5 years back the Bajaj Allianz Life. This hapenned to be my first insurance policy then and I hardly knew much about the insurance world as such. But to my bad luck this company was a disastor then and continues to be that way even now. Hence I decided put a review post for other members to know the sad state of affairs of this company.

Below are just a few goo[censored]ps from Bajaj Allianz Life Insurance Co:

1. Inspite of paying all my premiums on time, around the 2nd yr of my policy term I was reported that my policy lapsed. After repeated calls to their customer care I could not get a solution and I had to personally visit the branch office at Andheri. At first I was told by one of the asst managers that it was a system error from their side and they would get it rectified soon. But I had to visit their office thrice until the my policy was revived. Most of the time the concerned person had forgotten to look in to my case leading to delay and I visiting their office again. The interesting part was the asst manager called me up after a week and after doing some sweet talking he inquired if there were vacancies in my organization for himself... I was like DUHHH I wouldnt want you anywhere close to my organization after providing such terrible service.

2. Up to last year this company did not have online premium payment facility nor any other better mode of payment. Depositing cheques at their barnch seemed the only best way to pay premiums. I had to personally visit their branch at Andheri to pay my premiums

3. Recently in Mar 09, when my premium was due I was surprised to see the premium intimation letter along with a business reply envelope for sending the cheque. I was happy that I woudnt have to go to their branch again. So I religiously sent my cheque thru the business reply envelope much before the end of the grace period. But when I saw the cheque wasnt presented for 10 days, I spoke to the customer service to find that they had not received the cheque.
I was then told that I could make the payment thru their newly started online payment system. So I issued a stop payment request for the cheque to my bank and made a payment thru the online facilty. The customer service also assured that if incase they receive the cheque the same would not be processed and would be sent back to me. But, to my surprise after a month the cheque was presented and ofcourse it bounced. I was quite sure that the cheque was received by them on time was kept and forgotten in someone’s drawer. On enquiring they apologised for their mistake and said that they would send a copy of my cheque along with letter stating the facts of the case and that premium was already paid.

But when I received the letter (after a month) I was shocked to see that the letter infact stated that I should repay the premium in cash or DD along with a bank charge of Rs. 100.
Well, I have raised a severe protest against such irresponsible letter sent to me but I seriously doubt the company’s integrity and its ability to treat customers fairly. It works more like a small shop which deals with problems only when they come to their neck.
The worst part is after paying about 38k in premiums in the last 6 yrs my surrender value is just 15k and hence a huge loss on surrender. So I guess I have no other options but to bear and deal with them for rest of the period...

So friends BEWARE of any Bajaj Allianz salesman knocking at your door or on your phone. DONOT fall in to their trap. I could provide many more instances of their failures... Do let me know if you like to know more about them incase you contemplating buying any product from them.
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Aug 14, 2020
Complaint marked as Resolved 
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bajaj allianz life insurance company limited and it's agents and business managers are fraud and cheat.I am a student, on 26.11.2005 their agent Nihar Kumar Mohapatra and manager debashis Rath approached me and requested me to deposit Rs 30, 000/- and the money could be double with Rs.50, 000/life cover, accordingly I deposietd Rs. 30, 000/ then after the agent and company officers vanished, then I visited Company office at Katak, Orissa more than twenty times, then got the policy certificate.Then after no news and when ever I contact company officials they are simply telling me that my investment became zero after crash of Indian stock market and nothing will happen to company as their chairman Rahul bajaj is the Rajya Sabha M.P.Now I fail to understand, to whom I will approach for justice.
I have started a policy under Bajaj Allianz New Unit Gain Policy (Policy No- [protected]) dated- 27.07.2007 for Rs- 10000.00 Yearly. I have received the Bond. Next two times I have paid the premium within due date but I haven't received any documents from the company. I want to know the fund value till date.
I have taken a policy under Bajaj Allianz Life Insurance Co - New Unit Gain Policy (Policy No- [protected]) dated- 13.09.2008 for Rs.25, 000.00 Yearly. I have received the Bond. Premium for the year 2009 has been paid by me. However, I haven't received any documents from the company. I want to know the fund value till date.
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i wanted to know the premim statusof my policy no-[protected] as i am also not awair of the product name. so please informe me status and how many premim is given as agent is not giving the recipt. thanku
The most pathetic Motor insurance company in India! .. never remind you of renewals, + if you do manage to remember and renew, they would never send the documents! Please stay away!
Please contact the below mentioned nos and we will help you.

LIFE INSURANCE
Toll free numbers Standard STD rates apply
MTNL/BSNL[protected] Tel (+[protected]
Tata[protected] Fax (+[protected]
Bharti[protected] Email [protected]@bajajallianz.co.in
Reliance[protected] SMS [protected]@56070

GENERAL INSURANCE
Toll free numbers Standard STD rates apply
Any Landline/Mobile[protected] Tel (+[protected]
MTNL/BSNL[protected] Fax (+[protected]
Bharti[protected] Email [protected]@bajajallianz
Mr. Umakant mishra STM Code [protected] cheated my premium amount do not deposit and do not return me.
I dealt with two very sweet-talking marketing agents of B-A and was foolish enough to take a policy with high premium. They were so sweet and promised to send two gifts (as eligible) and even after repeated requests, and their promise to comply immediately but NO ACTION has been taken so far in two and half months. Now, after reading your complaints I am worried what is in store for me.

Is there any email of theirs where one can send a complaint? I only have the phone numbers of these two marketing executive and manager. If anyone knows, please let me know.

Thanks

Bajaj Allianze insurance

I have been cheated by Bajaj Allianz. I would advise everyone against a policy by these people who make big promises when selling you the policy and then disappear when you realise you have been cheated.

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    Bajaj Allianz
    Customer Care Service
    Customer satisfaction rating
    78%
    Complaints
    1988
    Pending
    0
    Resolved
    1480
    Bajaj Allianz Phone
    +91 20 3030 5858 [Customer Care]
    Bajaj Allianz Address
    GE Plaza, Airport Road, Yerawada, Pune, Maharashtra, India - 411 006
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