[Resolved] Bajaj Allianz Life Insurance — Unit Gain Policy | |||
Hi, I have surrendered my policy on 8th Dec 2012, still money not credited in my account? WHY? Where as the same day I surrendered some more policies with other insurance companies, those are already credited in my account, What is the special in your company? Is this spl in your company is simply eating peoples money? Why I asked this question is I paid 5 premiums (5 x 10K = 50K /5years), you people said the surrender value is 45K around. After 5years for my money you give that value? Why you people cheating public? Why you people playing with people’s lives? Look into this policy: New Unit Gain, [protected], I defiantly convey this incident to my colleagues, friends, families and relatives, Hated Bajaj Allianz Life insurance for your worst service & cheating, Srinivas, Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 2 Comments | |||
Comments
This Bajaj Allianzs baggers gave this reply, Baggars don't know who to communicate also, bloody...
The surrender request was received on 08/12/2012 and the payout has been processed from our end on 17/12/2012 hence there is no delay in surrender process.
This Policy is issued on the basis of the information given and declarations made by the Policyholder in the Proposal Form, which is incorporated herein and forms the basis of this Policy, where in you have opted for “NEW UNITGAIN” with regular premium and frequency selected as yearly. A copy of the terms and conditions of the policy was sent to you along with the policy documents and you were given an option to review the terms and conditions of the policy.
On review of the terms and conditions of the policy if you were not satisfied with any of the terms and conditions and if you found that the terms and conditions of the policy did not contain the representations made to you at the time of purchase of the policy you had an option to return the policy within 15 days of the date of receipt of the policy documents by you.
You are our valuable customer however the Company is bound by the terms and conditions of the Policy and the same cannot be deviated.
Since you have never opted for free look cancellation of the policy and you continued to pay subsequent premium and enjoy the insurance cover also, we have no other option but to presume that you were satisfied with the policy as issued. Hence, we regret to inform you that the policy cannot be cancelled as per the terms and conditions as the freelook period is already over.
We once again reiterate that the Company is bound by the terms and conditions of the policy as issued to you and is able and willing to perform its part of the obligations under the contract.
In the facts and circumstances as mentioned herein above, it is stated that the Company is not in a position to redress your grievances as the grievances raised by you are not in consonance with the terms and conditions of the Policy. However in case you are not satisfied with the response of the insurance company to your grievance you have an option, apart from other remedies available in law, to approach the Honourable Insurance Ombudsman also. You may lodge a complaint before the Honourable Insurance Ombudsman at the following Address:
Office of the Insurance Ombudsman, 6-2-46, 1st floor, "Moin Court" Lane Opp. Saleem Function Palace,
A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004.
Inconvenience caused to you is deeply regretted.
All those are playing with peoples life and lying at last to get small bucks, what bloody the fund managers and all related doing...! MOF...
The surrender request was received on 08/12/2012 and the payout has been processed from our end on 17/12/2012 hence there is no delay in surrender process.
This Policy is issued on the basis of the information given and declarations made by the Policyholder in the Proposal Form, which is incorporated herein and forms the basis of this Policy, where in you have opted for “NEW UNITGAIN” with regular premium and frequency selected as yearly. A copy of the terms and conditions of the policy was sent to you along with the policy documents and you were given an option to review the terms and conditions of the policy.
On review of the terms and conditions of the policy if you were not satisfied with any of the terms and conditions and if you found that the terms and conditions of the policy did not contain the representations made to you at the time of purchase of the policy you had an option to return the policy within 15 days of the date of receipt of the policy documents by you.
You are our valuable customer however the Company is bound by the terms and conditions of the Policy and the same cannot be deviated.
Since you have never opted for free look cancellation of the policy and you continued to pay subsequent premium and enjoy the insurance cover also, we have no other option but to presume that you were satisfied with the policy as issued. Hence, we regret to inform you that the policy cannot be cancelled as per the terms and conditions as the freelook period is already over.
We once again reiterate that the Company is bound by the terms and conditions of the policy as issued to you and is able and willing to perform its part of the obligations under the contract.
In the facts and circumstances as mentioned herein above, it is stated that the Company is not in a position to redress your grievances as the grievances raised by you are not in consonance with the terms and conditions of the Policy. However in case you are not satisfied with the response of the insurance company to your grievance you have an option, apart from other remedies available in law, to approach the Honourable Insurance Ombudsman also. You may lodge a complaint before the Honourable Insurance Ombudsman at the following Address:
Office of the Insurance Ombudsman, 6-2-46, 1st floor, "Moin Court" Lane Opp. Saleem Function Palace,
A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004.
Inconvenience caused to you is deeply regretted.
All those are playing with peoples life and lying at last to get small bucks, what bloody the fund managers and all related doing...! MOF...
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+91 20 3030 5858 [Customer Care]
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We have noted your policy details and currently looking into the matter. We shall get in touch with you soon to address the same. We sincerely regret the disappointment faced by you.
Sincerely,
Bajaj Allianz
Life Insurance