Policy Bazaar Complaints & Reviews

Six months earlier i bought a hdfc sampoorn nivesh policy from policy bazaar sales person. He told that first year company will charge 3% of total premium paid to the year and from next month onwards i would be charged 1%. Apart from that there will not be any charges. After receiving policy, i was continuing to pay my monthly sip premium and later thought of checking unit statement then i found hdfc bank is charging every month around 100 ruppes based on policy. When i contacted hdfc then they told that they will charge 7% on first year and then from second year they will charge 6% and also they will charge market investment charges every month. Later, i thought of checking with policy bazzar customer care one lady told me that i accept that our sales person has not disclosed all information and given wrong information to you. I will arrange a call back from him but it's been 15 days i have not received any call back from her. Also, raised complaint to hdfc and escalated to higher department but not got any reply. They all are sleeping. No help and resolution from anywhere i finally i had to cancel my policy for which i will be paying 6% closure charges and my money will be locked for 5 years. Request for irda assistance to look into this matter to stop their licenses for both policy bazaar and hdfc. I am sure there would be thousands of customer who would be suffering this cheating business planned between policy bazaar and hdfc.

Interaction id with hdfc-'hdfcsl=[protected]'

I made a payment of rs.819 for two-wheeler insurance (For my scooty tvs pep mh14 7536 on 13 feb 17. The payment was deducted from the bank however the policy was not concluded and there was no receipt or policy issuance subsequently. I spoke to the customer care and was assured of refund however no money has been refunded as yet.
Reference no.[protected]igaauebrw1

Hello

First time i am investing through policy bazar.com and it was pathetic experience. When i called up regarding my problem almost everyone is saying, i will arrange call back for you but unfortunately that was never happened. Every time i was used to calling up them and explaining my problem to each new agents but till now none of them are sorted out the issue.

Now actual problem is mentioned below
I purchased icici prulife smart kid policy for 15 yrs term and premium is rs. 4000 p. M. And but as per the icici documents sum assured amount is rs. 4, 80, 000/-
As per my understanding sum assured is the guaranteed amount the policyholder will receive before any bonuses are added.
So sum assured will be 48000 * 15 = 7, 20, 000

As per the policy rule incase any miss up happened company will continue the policy.

As per the icici bank executive sum assured is only death benefit.
So my question is in my absence how nominee will identify, how much she will get from this policy.
What is the principle amount for this policy. Or i will invest 7, 20, 000/- and will get 4, 80, 000/- after 15 yrs of policy term.in that case i don't want continue this policy. Let me know the process for policy cancellation.

I am writing in regard to the dissatisfied customer care service which i have been facing since last week. I have been provided numerous commitments of call back where as no one has even bothered to contact me back.

Issue:
I bought a motor policy from policy bazaar last year july. My grievance is your representative was not at all transparent in explaining me the terms & conditions of the policy. I requested discount to be provided like any other customer would do, i was told that a special discount has been provided & i agreed on the cost of the policy without knowing the fact that i am being cheated.

Voluntary excess charges of rs.15000/=was added without my knowledge nor i had any idea what that meant. No one from policy bazaar's team shared this fact & as a result i have been asked to pay rs.16000/= as charges just for filing a claim.

Need answers to following:
1. Kindly prove or share telephonic records which suggest your representative informed me about the charges that would be involved while filing a claim. I was only aware of rs.1000/- as file charges.
2. What is the sole purpose o[censored]sing website like policybazaar - to get proper guidance and best deals. I don' see any guidance nor customer service.

I require your support in getting my case resolved as soon as possible as there is a lot of inconvenience caused to me because of this delay. I already paid a hefty amount of rs.19000 towards the policy wherein i was been offered same policies from different insurance companies with a marginal difference.

Regards,
Varun chugh

I booked a royal sundaram medical health insurance policy from policy bazaar (Policy application id is[protected]. Before booking policy, their representative told me that there is an offer that if i take policy from them complete premium will be converted to one year emi of rs 1222.83 (Policy premium was rs 14674). He told me that there will not be any kind of charges from the bank or policy bazaar. Each month i have to pay only rs 1222.83. But when i booked policy and got my first credit card statement, i saw there are some extra charges apart from rs 1222.83. I asked policy bazaar to talk to the bank to stop these charges as i was not told about these charges. For last 3-4 months i am requesting policy bazaar customer support to stop & refund me the charges i have paid but every time when i write to them they are saying they have forwarded this issue to their team. If i am not writing to them, nobody is contacting me resolve the issue and when i am writing to them they are making excuses. For last 3-4 months i am very much frustrated to write to them. Whenever i write to them then only they will call me and make excuse. When i don’t write to them they will not do anything. When they have to sell the policy they will call you daily but when they have to resolve complaint nobody will call you and will make you so frustrated that you will feel helpless. So, i am advising to every person that instead of taking policy from policy bazaar take it directly from the insurance company.

Hi,

I have been a old customer of policy bazaar having bought multiple motor and term insurance policy from you in the past few years.

This is the first instance that i actually have to make a claim. To my surprise my car insurer tata aig has stated that the policy was cancelled due to mistake of policy bazaar in ncb. The worst i had bought the policy in december 2016 and there was no communication about this either from tata aig or policy bazaar. Nor any refund etc notification if the policy was cancelled.

Incidence:
My car had met an accident few days back (Photo attached) for which i went to the garage last saturday on 13th may 2017 and submitted my tata aig policy for cash less claim. To my surprise i got a call from the garage after 4 days that tata aig has stated that the policy was cancelled due to wrong ncb declaration. Then i confirmed them that i had only declared that i had no claim during my last policy with bharti axa (Which was bought through policy bazar again). The i spoke to tata aig customer care they discussed the problem with me and said that the policy was wrong issued by policy bazaar, i went forward and also spoke to the survayour who mentioned that he can pass the claim however the policy has to be rectified.

I paid for the policy as per the guidance by policy bazaar customer care and website. They were the subject matter expert and my consultant for the policy as well. I have no idea what is going around i trusted policy bazaar with my policy and i am in a total mess now.

My car is standing in the home for last one month i have to shell out substantial money for travel every day. The garage stated the total estimate for the work is around inr 1, 8000 to 20, 000 which i wouldn't pay as i payed for timely insurance renewal and it was policy bazaar who has guided me wrong.

It's a humble request that please resolve the matter on immediate basis i am under tremendous stress due to this subject.

Regards,
Pawan bhootda

I happened to take a term insurance from ageon through policy bazaar 3 months back. How ever i had trouble filling up the policy form as some of the information required for NRI client was not clear. Even though they promise help in filling the form despite calling them multiple times and various fake promises for a call back from assistance from their end I decided to cancel the policy after a period of 20 days.

Now the horror starts. Policy bazaar is insisting that they can not provide a refund unless i complete the application form ; this when their policy terms clearly states that in case the application form is not completed fully with in 15 days the premium paid will be refunded and policy will be cancelled automatically.

Now even after 3 months despite repeated calls complaints the only thing i am getting from them is that 'They are sorry' and the amount will be released immediately.

I have never came across such a pathetic service from an online service provider ever in my life.

They first loose a customer because they do not have the service support to help the customer in the first place and then penalize the customer for their pathetic service throwing away all their promised at the time of offering policy to wind.

I would advice anyone thinking about opting for a service from them 10 times before they do so.

Hi,

This is to bring to your notice that i have taken a term insurance policy from an insurer maxlife through policy bazaar and ever since i had to go through a lot of pain.

My medicals was done the very next week and no decision was made even after 2 weeks.

Finally 3rd week i get an email saying that additional medicals was required but no body called me for an appointment. So out of frustration i have called the maxlife/policy bazaar on my own to schedule an appointment i was told that i would receive a call within 48 hours for an appointment which did not happen.

I have called countless times to maxlife and policy bazaar but surprised to see that no body seem to bother.

So having gone through all this, i had decided to cancel my policy and choose another insurer on my own. But this too didn't go well.
I sent a cancellation request last week to both policy bazaar and maxlife and failed to get any response what so ever. This is pathetic.

Is this the kind server you provide to your customers?

Don't you even bother to take the application process from making the payment to issuing the policy? You just disappear once the payment is made.

My point of contact for this policy was : akash with employee id: pw03691.

Don't you think he is not responsible for my application?

Even today i called maxlife and they are asking me send some documents to initiate the refund and that too when i contacted them. They did not even inform me anything in this regard.

It has already been 40 days and my money is still with them which is very frustrating.

Can you do anything in this regard?

Thanks.

#worstplatform to buy policy from #PolicyBazaar. I bought #TATAAIG policy from #policybazaar for two wheeler on 15th May 2017. The balance got deducted from my end but policy not issued, even transaction ID was not provided by #policybazaar. I called and mailed them for the same with screenshot of balance deduction. Will forward it to #TATAAIG and policy should be issued within 24 hours. Today is 19th May 2017 still policy not issued. Every morning I call them they make ask for time till evening and nothing happens, same thing repeats. I called them yesterday and spoke to customer care executive Archit and ask him for the same he said the same thing. I said, am ready to wait for 24 hrs, 48 hrs whatever time you want, since my existing policy expired on 17th May 2017 and I renewed it well before time from your #policyrenewalplatform #Policybazaar, give it to me in writing that #policybazaar knows the consquences of driving vehicle with expired policy and #policybazaar own the responsibility for same. As expected he refused and connected me to his supervisor Amit, after long chat with him he said the same thing and refused. I am ready to pay again for same policy but #policybazaar was not sure that whether it will get issued or not so he asked me for time till evening as usual and this time since it is from supervisor I was feeling that they will keep their promise but my hope fade away and I did not get any mail not even update not even a call. I mailed them but no response. So the next step is #consumerforum #consumercourt and complain to #IRDA #TATAAIG.

From 15th may, a guy named mr. Virendra/birendra from policy bazaar (The name may be fake). He explained me the policy of bajaj alliance, comparing with some other policies from companies like hdfc, sbi, dsp black rock etc.

On that part, i have a complaint that this "mba" guy misguided me and told me that there is no locking period for this investment. I later came to know about it when i received the receipt from baja allianz through email after buying the policy on 17 may'17. The bajaj alliance application no is - [protected], reference id - 1196251

This was the first time i was planning for an investment and now i realized that i made a fool out of myself for trusting a call from policy bazaar. The guy shared me an email address [protected]@policybazar.com. Whenever i gave a call back request on 16th may, virendra called me. But after selling me the policy, when i gave a call back request on that email on 17th, suddenly some girl is calling me, and his boss is calling me telling that virendra is having fever today... And he is very sorry that his executive fooled me. Now he shared me a email address of bajaj alliance so that i may raise a cancellation request.

So, i hope this complaint of mine will be taken care of and the needful would be done so that these websites quit fooling consumers like myself.

Dear Sir,

I purchase one health policy from Policy Bazar https//www.policybazaar.com/ namely Indian Health Organization from above mention site. Before purchase I asked them that Rabindranath Tagore International Institute of Cardiac Sciences is listed is listed or not and they reply me Yes. Today I call to Indian Health Organization - IHO https//iho.in/ and they told above mention Institute is not listed. I am deprive from them. My IHO card number is P__________189.

Worst service, Dropping calls intentionally. Rejecting Insurance policy For Motor. No refund. No response.

Rejected my car inspection, not sharing any details inspection report.
From morning I called several times. You can ask call log from policy bazaar from number [protected].

Even tweeted on Twitter.

Agent Nishant Bhandari. Feels like he's misusing power.

Application id : 43489826

I have purchased car insurance from policy bazaar. I have provide all detail with proof of previous insurance at that time. After 4 months i exchange my old car with new one and i came to know that engine no and chassis no of old car is wrong in insurance policy purchased from policy bazaar. If i have to take exchange bonus of 20000/- then i have to provide policy with all correct detail.

I called policy bazaar customer care and request to solve the issue on priority with explaining my problem. They asked me to mail all document at [protected]@policybazaar.com. I mailed all document on 5th may 2017. I got replied that it will be solved in 7 working day while i got new policy within 30 min at time of purchase. I was regularly calling their customer care and requesting to help me. But i am getting response that we are not responsible. Its your choice to purchase policy from policy bazaar. Mistake happens. We cannot do anything before 7 days. We can not help you in your loss. Their people are showing attitude like they are doing favor by talking to us. Priority is nothing for them.

Policy bazaar is only concern with sales part. Service is not their concern.

I will assure policy bazaar that they are going to lose some good customer from my side.

I would like to bring to your notice that i was taking a travel policy for my father mr. Ganesh baliga for his travel to japan from the 5th april 2017 to the 24th april 2017

At the first instance (Schedule no. Sa385249) i wrongly selected just 10 days and went ahead with the payment of rs.2504/- without noticing the mistake. Then i took another policy (Schedule no.385428) for 20 days from the 5th april to the 24th april 2017 for rs.3218/-.

I called policy bazaar immediately to tell them of the same and the customer service representative asked me to send them an email which i promptly did on the 3rd april 2017 itself (Email screenshot attached). I received a response from them on the 4th april 2017 saying that the policy cancellation and refund has been put into process and that i would get the refund credited into my account by the 25th april 2017. (Email screenshot attached)

I called them again on thursday the 20th april to reconfirm and i was told that i would get and update by the next monday the 24th april (Email attached with confirmation of the same). But as the tradition of policy bazaar goes i never got that update.

On the 25th april i emailed again to ms. Sheelam who was communicating with me as that was the day that i was supposed to get the refund into my account for which i received and email from mr. Kunwar singh stating that it's still under process and the inconvenience is regretted. (Screenshot of both email attached).

It's been 9 days now since the last correspondence and i'm awaiting my refund. It's exactly a month since the actual travel started and its been 10 days since the the person has returned from the trip.

Policy bazaar don't seem interested in resolving the issue and have the amount of rs.2504/- refunded to my account.

Nikhil baliga
[protected]

Dear ICICI team / Policy Bazar team,

This is to bring to your kind attention that we have cancelled our policies no: OP00022183, dated[protected] INR 2056 /- and no:OP00021059, dated[protected] INR 2973/- regarding the purchase of team plan from policy bazar. We have already made the payment in advance and now would appreciate if you could arrange for the refund of the same. The payment has been made via on line through SBI credit card.
I would be very grateful to you if you could do the needful at the earliest as it is more than one months that we have not received our payment back. I would be obliged if you look into the matter personally and arrange my refund at the earliest.

Thanking you,
Yours sincerely,
SHIV VIKASH MSHRA
[protected] / [protected]

Hi

I have purchased Motor Insurance from Policy Bazaar on April 4, 2017 and made payment of Rs 5000+ towards it. I was informed that the soft copy will come in 2-3 working days. It has been nearly 30 days but I have not received by Insurance documents. All I got was a reference no i.e, PBW/[protected].

Everytime, i try speaking to Customer Service i keep getting diverted to multiple people to whom i have to sing the chorus again and again but with no output. This has been test of my patience. Could somebody advise me, if there is a legal route to this and how could i get this resolved. Please mail me at [protected]@hotmail.com.

P.S: I been using policy bazaar for last 4 years for my 2 wheeler, 4 wheeler and personal insurance. This experience has strained my relationship with them and i have taken oath not to deal with them in future.'

Thanks
Syed

I have made the payment towards my 4 wheeler insurance on Sunday (23 April, 2017).
The vehicle inspection has been done next day Monday 11 AM & I have received the confirmation on that.
But till today 28 April not received any document. I have sent multiple emails, spoken to customer care many times but no positive reply.
I have applied for Bharti-Axa. I spoken to Bharti-Axa multiple times & they said the payment is not received even after a week over.

According to Policy Bazaar, Bharti-Axa is unable to generate the policy file due to some glitch (sent an email to me).
But when I was spoken to Bharti-Axa, I was told that they have not received any payment.
So it is CLEARLY looks like the payment made to Policy Bazaar on 23 April but they have NOT transfer to Bharti-Axa till date.

And now the situation is they are not responding my emails not even replying positively while speaking to customer care.

The details are as follows:
SBI Authorization ID: 024676
Transaction ID: VDKD946896
Order Number: 43365577
Plan Name: Smart Drive
Premium Paid: 11797
Mobile Number: [protected]
Email ID: [protected]@yahoo.com

Team,

I have purchased a Car insurance in Feb 2017, Policy Bazaar had the information of 2 of my cars with the similar number and while buying the policy, the make & model and Car Registration and Chassis number have been mixed up. My car is in garage for over 2 months now and i am not getting any support. I have wrote an email for this to Policy Bazaar @ [protected]@policybazaar.com on 6th April, 2017 and it was mentioned that my new endorsement will be done in 7 working days. but to my surprise i have still not received the new policy and i have stopped getting the response from the the customer Care team. I have been interacting with Sunil Kumar
Customer Relationship Team Policybazaar.com over email to which he responded on 13th April mentioning it will take 7 working days and post that no response even after regular follow ups. I want to understand the TAT for this and a response time for every query raised. This is putting me into difficult time as i dont have a car for 2 months and dont get any response from the customer Care. I am not in India until 3rd May, 2017 hence would request your revert over email until then. with a closure to this long pending issue.

I have booked a two wheeler insurance policy through policy bazaar portal from bharti axa for a premium of 3018/- . Premium amount paid on 18 Apr 2017 but policy is not issued till date. Regarding this an e mail is also send to policy bazaar on 19 Apr 17 with attachment of proposal form and screen shot of transaction completed o[censored]PI app. Till date there is no reply or action by policy bazaar .

Unable to cancel a policy booked through www.policybazaar.com. its been over 10 days when i first requested for cancellation. On their grievance system you can only talk to ivr and as soon as the call has to be transferred you are put on hold for 5 minutes and then the call disconnects automatically.
Unable to cancel the policy bought and now no confirmation is being given from their end. I case i am still unable to get confirmation, i'll have to take it to consumer forum.
Aditya kansal
[protected]