[Resolved] Bajaj Allianz Life Insurance Policy No 73232153 — Refund very less amount | |||
I have purchased a Bajaj Allianz policy no 73232153 in 2007 of a premium of Rs 12,000 (6000 half yearly). Since then my fund value is going down day by day. After giving 9 premiums (in 4.5 years) = Rs 6000*9 = Rs 54000, I decided to surrender the policy. Before surrender the policy I confirmed from Bajaj Allianz Call Center in order to get the surrender value on number[protected] on 23rd & 24th April. On both day the telle callers told me that I will get approx Rs 50,000 or above depending on current NAV. only Rs 2450 will be deducted. (My both calls have been recorded there, You can confirmed those) On 24 April when I submitted the surrender form. On 2nd May I received the money direct into my UBI account ***187, it was only Rs 47009. Why they have deducted too much amount. I am very upset since then. No body is listening. They are telling nothing happened now due to policy is surrended. Call centers told me wrong info otherwise I will not surrender the policy. Please do something to get my remaining fund back. Why Bajaj Allianz making fool to innocent policy holders? Regards Kishore Kushwaha +91-[protected] Bajaj Allianz policy No: 73232153 Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 3 Comments | |||
Comments
Please reply me.
Reply
If I already run the policy more than 3 years (locking period mentioned in IRDA rules), then You can't cut the Rs 4902.46 such a huge amount.
Moreover why your call centers told me totally wrong surrender values on both days on which I called. Why you are listening those conversations, even those were recorded there.
If I know this huge penalty charges, I never surrender my policy.
Either return my penalty charges or continue my policy immediately.
From: Jabeen Shaikh/Operations/Pune Ho/Bajaj Allianz <Jabeen.[protected]@bajajallianz.co.in>
Subject: Issue no. 17502544 Policy no. [protected]
To: "[protected]@yahoo.com" <[protected]@yahoo.com>
Date: Friday, 4 May, 2012, 4:09 PM
Dear Sir,
This is with reference of the Policy no. [protected].
We would like to inform that we have received your surrender request on 24/02/2012 and we have proceed the request on same. Surrender charges details as follows:
On 24th Mar Fund value Surrender penalty applicable as Service tax on SV Payable amt as Policy no
52517.16 4902.46 605.94 47009 [protected]
Surrender value which received by you which is correct there is no discrepancy.
policy surrender and policy has been surrendered. Payout has been transferred in your account and payout details as follows:
Policy no Amount A/c No Bank name UTR no Transaction date
[protected] 47009 [protected] UNION BANK OF INDIA SIN00101Q2628759 02/05/2012
We regret any inconvenience caused to you.
For any further assistance, please feel free to get back to us on[protected] or at [protected]@bajajallianz.co.in.
Thanks & Regards,
Miss. Jabeen S.
Bajaj Allianz.
Grievance Cell
[protected].
Moreover why your call centers told me totally wrong surrender values on both days on which I called. Why you are listening those conversations, even those were recorded there.
If I know this huge penalty charges, I never surrender my policy.
Either return my penalty charges or continue my policy immediately.
From: Jabeen Shaikh/Operations/Pune Ho/Bajaj Allianz <Jabeen.[protected]@bajajallianz.co.in>
Subject: Issue no. 17502544 Policy no. [protected]
To: "[protected]@yahoo.com" <[protected]@yahoo.com>
Date: Friday, 4 May, 2012, 4:09 PM
Dear Sir,
This is with reference of the Policy no. [protected].
We would like to inform that we have received your surrender request on 24/02/2012 and we have proceed the request on same. Surrender charges details as follows:
On 24th Mar Fund value Surrender penalty applicable as Service tax on SV Payable amt as Policy no
52517.16 4902.46 605.94 47009 [protected]
Surrender value which received by you which is correct there is no discrepancy.
policy surrender and policy has been surrendered. Payout has been transferred in your account and payout details as follows:
Policy no Amount A/c No Bank name UTR no Transaction date
[protected] 47009 [protected] UNION BANK OF INDIA SIN00101Q2628759 02/05/2012
We regret any inconvenience caused to you.
For any further assistance, please feel free to get back to us on[protected] or at [protected]@bajajallianz.co.in.
Thanks & Regards,
Miss. Jabeen S.
Bajaj Allianz.
Grievance Cell
[protected].
Please read my raised points carefully and answer them correctly:
1. The pdf (confirmation slip) you have sent just now, was not given to me at branch where I submitted the policy for surrender. Otherwise I will not surrender my policy. If nobody tells me about the huge surrender changes, how can I come to know about this?
2. On 23rd & 24th April, 2012 when I called to Call center, Why they told me that your current fund value Rs 52511 and on surrender the policy only Rs 2450 will be deducted, Hence I will get approx Rs 50061. Why you people not see those recordings?
3. As you are telling that surrender penalty charge is Rs 4902. This was not mentioned in my policy document. First read my original documents sent to Bajaj Allianz and only reply to me.
Either returns my unnecessary deducted amount or continue my policy, otherwise I will to consumer form against your company cheating.
1. The pdf (confirmation slip) you have sent just now, was not given to me at branch where I submitted the policy for surrender. Otherwise I will not surrender my policy. If nobody tells me about the huge surrender changes, how can I come to know about this?
2. On 23rd & 24th April, 2012 when I called to Call center, Why they told me that your current fund value Rs 52511 and on surrender the policy only Rs 2450 will be deducted, Hence I will get approx Rs 50061. Why you people not see those recordings?
3. As you are telling that surrender penalty charge is Rs 4902. This was not mentioned in my policy document. First read my original documents sent to Bajaj Allianz and only reply to me.
Either returns my unnecessary deducted amount or continue my policy, otherwise I will to consumer form against your company cheating.
Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good
a company is at responding and resolving complaints by granting from 1 to 5 stars for each
complaint and then ultimately combining them all for an overall score.
Read more
Read more
78%
Complaints
2209
Pending
0
Resolved
1674
+91 20 3030 5858 [Customer Care]
GE Plaza, Airport Road, Yerawada, Pune, Maharashtra, India - 411 006
View all Bajaj Allianz contact information