Bajaj Allianz — Surrender charges
I had taken Bajaj Allianz policy 40992104.
This policy has completed its three policy years and all these three years the premium was paid on time .and when I went to surrender it they are asking for a HUGE surrender charge of around 26 thousand rupees.
If I pay this charge ,the value of my policy will go negative.
I am aware of this charge but this is required ONLY when you do not make premium payments for the three policy years.
I later checked in the policy document and it has the surrender chanrges even after three years. This is totall rubbish. Fraud!!!
I had taken other policies from ICICI and Birla. They do not charge after completion of three policy years.
People reading this, My suggestion to you is please do not buy any policies of bajaj Allianz.
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