[Resolved]  Bajaj Allianz ULIP Surrender Charge — Surrender Charge after paying 3 premiums

Address:

Gautam Buddha Nagar, Uttar Pradesh

Bajaj allianz is worst company not only in terms of Return on Investmnet but also in terms of levying penalty... they never miss any chance to rob the customer..They are biggest cheater in the matrket..I have taken ULIP of bajaj allianz in Feb,2007 and paid three installment of 25000 each. Branch manager of bajaj Allianz Sh R A Pathak told me that I could surrender the policy without penalty after payment of minimum three installments. After passing more than 4 years ,when I contaced the Customer care of Bjaja Allianz to know surrender value of my policy , he informed me that there is provision of [protected]@52%.Then I also contacted to their greivence redressal officer but they all speak the same language.. Now I am very sure that they dont focus their effort on increasing their fund performance but they focus on looting the customers by other ways like levying 52% of penalty charges. After paying 75000 rs upto2009 , Now I will get only 49500 in Oct,2011 wheras the fund value is 58700. that clearly tells about performance of bajaj allianz.I am very upset and feeling helpless...