[Resolved]  Bajaj Allianz Sarva Shakti Suraksha — Not getting proper amount on surrender

Address:

Pune, Maharashtra

When I opened a suidha account in Citi Bank their agents told me that they have a ULIP type of scheme but instead of locking period of 5 years this one has a locking period of just 1 year. Your money will grow and you can withdraw after 1 year without any penalty.

I had purchased this policy in June2011. The premium amount of Rs 1500/- of which was getting deducted from my CITIBANK salaried account on monthly basis.

Also I have paid premium for 19months (Rs 28500/-) and I am getting cancellation refund amount of Rs 19474/-. Where is the rest of the money that I have paid?

So how could they deduct 40% of the total premium paid amount?

On trying to call the Bajaj Allianz agent, I am getting no response.

I agree and subcribed. I kep asking them for the policy document which till date even after 2 years I haven’t received.

Then through other sources I came to know about this fraud with other consumers as well.
They will deduct as high as 40 % of the premium.

It was a huge mistake on my part that I trusted this fraud company Bajaj Allianz, even though my friends asked me not to invest in it.
Even the premium certificate appears to be fake.

Kindly advice how can I get my full refund amount.

I am left all stranded and cheated in this nexus!!

I am going to raise a complaint against it in Cosumer court by hiring a lawyer.

Regards,
Alok Agrawal
+91-[protected]