[Resolved] Bajaj Allianz Life Insurance — Cheating business | |||
I have invested in Bajaj Allianz life insurance company Rs 36000/- in three installaments. End of 4 years I got Rs 28000/- fro them. They put many chanrges which were not known to us. The mail communications with company is given below. But they are offering only Approx Rs 25000/- by some fake calculations (like heavy mortality charge, policy admin charges, Surrender Penalty etc) I have invested Rs 36000/- I request your intervention please. With Best Regards, D.S. Patil || Mobile : [protected] [protected][protected][protected][protected] From: [protected]@rmpadmin.com [mailto:[protected]@rmpadmin.com] On Behalf Of Customer Care RMP Sent: Friday, August 20, 2010 2:20 PM To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ] Cc: [protected]@bajajallianz.co.in; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com; [protected]@rmpadmin.com Subject: Re: Policy number:60641511 Dear Customer, Good Day to you... With reference to your below email, please note that if you want to surrender your Policy, than contact to your nearest Insurance Company and make your request for surrender of Policy. On Fri, Aug 20, 2010 at 1:57 PM, <patil.[protected]@tatamotors.com> wrote: Dear Customer care, We had enough discussion as given in trailing mail about your rules and regulations. I have completed 4 years after first investment made. Total amount paid Rs 12000x3=Rs 36000/- I want to withdraw my amount. Please note that I don't want to hear about any hidden charges or any cheating charges. Request you to promptly return my amount (MEHANAT KA PAISA, PASINA KA PAISA). Even if you not provide any benefit to me, that is ok. Please return complete amount Rs. 36000/- Else, give me your CEO's contact number. With Best Regards, D.S. Patil, Mobile : [protected] _______________________________________________ -----Original Message----- From: [protected]@bajajallianz.co.in [mailto:[protected]@bajajallianz.co.in] Sent: Saturday, May 29, 2010 9:51 PM To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ] Subject: RE: Policy number:60641511 Dear Sir, In reference to your below mail, we have tagged your request under I track Number: 4990120. You may do the fund switch for said policy you have five fund available in the policy as below. 1) Equity Growth Fund 2) Accelerator Mid Cap Fund 3) Equity Index Fund II 4) Bond Fund 5) Liquid Fund For further assistance kindly provide us your updated contact number. For any clarifications or assistance, please feel free to contact us, Thanks and Warm Regards, Sanjay C. Customer Focus Unit Toll Free Numbers: Tata Users[protected] Bharati Users[protected] BSNL Users[protected] Reliance Users[protected] Fax number [protected] Email id [protected]@bajajallianz.co.in ________________________________________________________________________ __________________ From : patil.[protected]@tatamotors.com Send : 29-MAY-2010 04:02:55 PM Subject: RE: Policy number:60641511 I think you have not understood my question. I am not interested in fund transfer. I want to withdraw my amount after 17 Aug 2010. My query is I should get at least what I have invested (Rs. 36,000/-). Forget about the interest. With Best Regards, D.S. Patil -----Original Message----- From: [protected]@bajajallianz.co.in [mailto:[protected]@bajajallianz.co.in] Sent: Saturday, May 29, 2010 3:54 PM To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ] Subject: RE: Policy number:60641511 Dear Madam, In reference to your mail, we have tagged your query under I track Number:4790276. As per your mail regarding the Fund switch please find the details for same: Fund Apportionment is a facility that allows a Customer to modify the allocation of amount of future premiums into a different investment pattern. Change of allocation shall not apply for accumulated funds. Fund Switch is the facility provided to the Policy Owner to change the investment pattern by moving fom one Investment Fund to another Fund amongst the available funds under the policy. Fund Switch is Applicable to accumulated funds only and not for future premium allocations. A switch is permissible only for Unit Link Policies If the customer is doing online fund switching and Apportionment, he needs to remember the following points: If the fund in which you want to switch is not present in your policy, then kindly click on option Create fund In create fund you will be able to change the apportionment & place a request for adding new desired fund; this will take a day to execute the request Then kindly go to fund switch & place a request for fund switch into the new fund Fund switch is switching of amount/units between existing funds. Please note that when you pay your next renewal premium your money will be allocated as per apportionment specified by you at the time of policy purchase & not as per any past fund switch (es). If you want your future renewal premiums to be allocated as per apportionment requested by you as per recent fund switch, then kindly change the fund apportionment accordingly. Please feel free to revert. Thanks and Regards, Danish S. Tata Users[protected] Bharati Users[protected] BSNL Users[protected] Reliance Users[protected] Fax number [protected] Email id [protected]@bajajallianz.co.in Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life Insurance. It is our endeavor to serve yo as quickly as possible. For further related queries or concerns mail us at [protected]@bajajallianz.co.in .In case you are not satisfied by our response; you may kindly escalate according to escalation matrix. malthi.[protected]@bajajallianz.co.in ________________________________________________________________________ __________________ From : patil.[protected]@tatamotors.com Send : 28-MAY-2010 03:19:10 PM Subject: RE: Policy number:60641511 It is very unfortunate that I have invsted Rs. 36000/- and at the end of the 4 years I am getting Rs. 25000/-Approx. Any how I will recover balance amount from agent along with interest. I am feeling bad not because of I am looser, but some body cheated me easily. With Best Regards, D.S. Patil -----Original Message----- From: [protected]@bajajallianz.co.in [mailto:[protected]@bajajallianz.co.in] Sent: Sunday, May 16, 2010 2:37 PM To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ] Subject: RE: Policy number:60641511 Dear Sir, In reference to your below mail, we have tagged your request under itrack number:4790276. Kindly accept our sincere apology for delay in replying and inconvenience caused to you. We would like to inform you that surrender charges is applicable on the 95 % allocated units that was invested in first year premium. The capital units allocated in your policy was 890.625. Do call us Toll Free No.: 1-800 [protected]free call from any network mobile/landline) for the further assistance. Your co-operation will assist us to serve you better! Thanks and Warm Regards, Umesh S. Customer Focus Unit Bajaj Allianz Toll Free No.:[protected] Fax Number :[protected] Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life Insurance. It is our endeavor to serve you as quickly as possible. Our Customer Service Executives will revert to you shortly on your email. In case you are not satisfied by our respons; given below is our escalation matrix. You may kindly escalate your case to the email id?s below. Sandeep.[protected]@bajajallianz.co.in ________________________________________________________________________ __________________ From : patil.[protected]@tatamotors.com Send : 15-MAY-2010 04:00:52 PM Subject: RE: Policy number:60641511 Surrender penalty % of which amount? And clear me how much in my case? With Best Regards, D.S. Pati l -----Original Message----- Fom: [protected]@bajajallianz.co.in [mailto:[protected]@bajajallianz.co.in] Sent: Saturday, May 15, 2010 3:12 PM To: PATIL DHARMARAYAGOUDA S [ Manager (Development) , Pune CVBU , ERC - S ] Subject: RE: Policy number:60641511 Dear Sir, In reference to your mail, we have tagged your query under I track Number: 4790276. We deeply regret the inconvenience caused to you. As per our telephonic conversation, hope we have cleared your query. You have opted for "Capital Unit Gain"; the policy premium term is of 20 years. The annual premium allocation is 95%, the allocation rate for all top up premiums is 98%. The unit-linked policy has three years of lock in period. After three years, customer gets facilities of premium holiday, partial withdrawal, or surrendering the policy. The premium paid by customer is invested in stock market. The stock market is volatile. The surrender charge is applied on Capital Units only and r ecovered by the redemption of Capital Units, please check the below given surrender charges details: Year Surrender Penalty Completion of three full policy year: 56% [protected][protected]-- 54% [protected][protected]---- 52% [protected][protected]-- 49% [protected][protected]---- 47% [protected][protected]---- 44% [protected][protected]- 42% [protected][protected]--- 3% [protected][protected]-- 36% [protected][protected]-- 32% [protected][protected]---- 29% [protected][protected]- 25% [protected][protected]--- 22% [protected][protected]--- 18% [protected][protected]---- 14% 18--- [protected][protected] 9% [protected][protected]--- 5% [protected] [protected][protected] 0 The "Capital Unit" is a unit allocated in respect of Regular Premium, payable during the first policy year. Thanks and Warm Regards, Shivangi T. Customer Focus Unit Toll Free Numbers: Tata Users[protected] Bharti Users[protected] BSNL Users[protected] Reliance Users[protected] General Insurance:[protected] Fax number [protected] Email id [protected]@bajajallianz.co.in Thank you for reaching the Customer Focus Unit of Bajaj Allianz Life Insurance. It is our endeavor to serve you as qickly as possible. For further related queries or concerns mail us at [protected]@bajajallianz.co.in .In case you are not satisfied by our response; you may kindly escalate according to escalation matrix. 1) vaibhav.[protected]@bos.bajajallianz.co.in 2) Sandeep.[protected]@bajajallianz.co.in Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
4 Comments | |||
Comments
yes this is real thing what this bajaj allianz life insurance was doing. I'm begging the higher authority to take appropriate action on these kind of insurance company..
by an affected person by this bajaj allianz life insurance group
by an affected person by this bajaj allianz life insurance group
I am bit fortunate asI am getting my investment with 2% return in 4 year.
APPEAL TO THE PUBLIC.
Bajaj allianz insurance company is formed by a bogus and cheating masters, their main aim is to cheat the public some how. Dont invest any Money with them.I am a victim of these fraudsters.4 years back I invested 16. 5 laks.These monsters given me false statements and lot of correspondence i have done. finally i got back only 12.5 laks. As per IRDA rule they are not allowed to sell the product outside india. But senior managers from these monster company touring gulf and other countries and trying to cheat the peoples and selling their fraud products. I am a victim. Now I am moving to Govt of India, supreme court SEBI, IRDA, Insurance Ombudsman etc. and I will go to print and visual medias india and Gulf as well, in order to retrieve my hard earned money and save another Indian or any person falling a prey to such companies. SO I APPEAL TO THE PUBLIC THAT DONT INVEST SINGLE PAISE IN BAJAJ ALLIANZ INSURANCE COMPANY.
Bajaj allianz insurance company is formed by a bogus and cheating masters, their main aim is to cheat the public some how. Dont invest any Money with them.I am a victim of these fraudsters.4 years back I invested 16. 5 laks.These monsters given me false statements and lot of correspondence i have done. finally i got back only 12.5 laks. As per IRDA rule they are not allowed to sell the product outside india. But senior managers from these monster company touring gulf and other countries and trying to cheat the peoples and selling their fraud products. I am a victim. Now I am moving to Govt of India, supreme court SEBI, IRDA, Insurance Ombudsman etc. and I will go to print and visual medias india and Gulf as well, in order to retrieve my hard earned money and save another Indian or any person falling a prey to such companies. SO I APPEAL TO THE PUBLIC THAT DONT INVEST SINGLE PAISE IN BAJAJ ALLIANZ INSURANCE COMPANY.
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