[Resolved] Bajaj Allianz — Sarva Shakti Suraksha - returns | |||
Hi, I have taken Bajaj Allianz SARVE SHAKTI SURAKSHA policy through CITIBANK and have been paying premium for the same @1500 pm for the past 33 months.(premium is deducted automatically from salary account) Now I want to surrender the policy. I called BAJAJ ALLIANZ customer care but they were unable to furnish any details regarding what amount exactly I will be paid. So since on phone nothing worked out, I went to the Bajaj Allianz office in Jayanagar,Bangalore and to my surprise they didn't have the complete information. They said my policy started in July 2011, though it started in July 2010. I called the Citibank customer care people,who confirmed that it was an error and told to me that my policy was started in July 2010 only.Finally, i dropped courier to Citibank office to surrender my policy. I was completely wrong when i thought my ordeal ended here. Who knew it was just a start. As mentioned already, I had paid a premium of 1500Rs for around 33 months. So it comes around 49,500 Rs. Now since i asked Citibank to surrender my policy,I got a call from Bajaj Allianz representative on confirmaiton of closure. Now, I was SHOCKED to hear that out of Rs. 49500Rs/- premiums paid by me , I will be getting around Rs. 30,000Rs/- back only.Come on,I was like what are you talking about? This was not communicated to me at the time of applying for policy.I started this policy when i was opening the Citibank Salary account .The then representative guaranteed me good returns after 3years.He was like, after 3 years you can stop this insurance and you will get good returns.So now I am left in complete mess thanks to the these two Companies Citibank and Bajaj Allianz.I am fully depressed and sad, since i feel i am cheated by companies which i trusted. And the worst part is that there are many people who has suffered from this,and many definitely are.So iam quite sure you guys have realised it is best way to mint money from innocent people. Also, if this was not enough, I called the citibank customer care people ,to ask about this. The representative said, no one here can tell you and suggested me to drop a mail to "citi.[protected]@bajajallianz.co.in". I did the same, and its already 5 days, and no one has bothered to reply to me despite sending reminders. And why will they afterall, its about returning money.Seriously,i never expected this in worst of my dreams. i expect some positive reply from u asap. At least expect my principal amount back An unahppy customer Policy Reference No. :- [protected] Application No:- CB01452 Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
70 Comments | |||
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I am on the same page I need help to please contact me on [protected]
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i am ex CITI Empoyee
Same case here Policy number [protected] Completed 8 years all promisss made by CITI account opening officer in all above posts are made to me also when i asked to surender they they asked to to give money after huge deduction.
it's huge fraud by CITI and BAJAJ.
Requesting CITI bank to take note of this and stop issuing Bajaj policy while opening account.
Kamlesh
Mob :[protected]
Same case here Policy number [protected] Completed 8 years all promisss made by CITI account opening officer in all above posts are made to me also when i asked to surender they they asked to to give money after huge deduction.
it's huge fraud by CITI and BAJAJ.
Requesting CITI bank to take note of this and stop issuing Bajaj policy while opening account.
Kamlesh
Mob :[protected]
HI Mates,
I have been paying bajaj Allianz SARVE SHAKTI SURAKSHA from last 4 years, i have called customare care to check account statement and received account statement, i have shocked after seeing account statement and found there are lot of hidden charges..& not getting what we are paying back..,
Total Paid for 4 years = 72000
Actual amount in account statement = 62200
i will recommend please close the account whoever continuing the policy for existing customers & do not go with the policy for new members..
I have been paying bajaj Allianz SARVE SHAKTI SURAKSHA from last 4 years, i have called customare care to check account statement and received account statement, i have shocked after seeing account statement and found there are lot of hidden charges..& not getting what we are paying back..,
Total Paid for 4 years = 72000
Actual amount in account statement = 62200
i will recommend please close the account whoever continuing the policy for existing customers & do not go with the policy for new members..
This is a fraudulent scheme.
Hi All,
Same here just the bank is different. I have been fooled by Standard Chartered Banks representative. He told me that the policy is like a Recurring Deposit plus tax saving benefit. However after paying 1000/month for 5 years I got 61729 INR as my maturity amount. They are completely a fraud. People like us also get in to this kind of trap easily. I would suggest all of you to please close this policy and start some SIP or mutual funds which will give you a good benefits.
Bajaj Sarva Shakti Suraksh is a fraud plan and degrading the prestige of a Brand Name like Bajaj.
Same here just the bank is different. I have been fooled by Standard Chartered Banks representative. He told me that the policy is like a Recurring Deposit plus tax saving benefit. However after paying 1000/month for 5 years I got 61729 INR as my maturity amount. They are completely a fraud. People like us also get in to this kind of trap easily. I would suggest all of you to please close this policy and start some SIP or mutual funds which will give you a good benefits.
Bajaj Sarva Shakti Suraksh is a fraud plan and degrading the prestige of a Brand Name like Bajaj.
Hi Friends,
After reading all these reviews, I'd really want to stop this policy right now. I'm paying premiums from SEptember 2013 to till date.
Thanks,
Arifa
After reading all these reviews, I'd really want to stop this policy right now. I'm paying premiums from SEptember 2013 to till date.
Thanks,
Arifa
Same here. I took this and paying premium of 2000/month. CITI and bajaj Allianz cheated us. Highly dissatisfied.
Can we file a case against these parties. Guys any suggestions. ?
Sriram
Can we file a case against these parties. Guys any suggestions. ?
Sriram
I would also like to know what will happen once the policy term is over and it gets matured.
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