Policy Bazaar — complaint regarding non-refund of 6220 for cancelled policies by policybazaar and bajaj allianz

Address: Gurgaon

Respected Sir/Madam,

I wish to file a complaint against Policybazaar Insurance Web Aggregator Pvt. Ltd. and Bajaj Allianz Life Insurance Company Ltd. for not refunding ₹6220 related to two life insurance policies cancelled within the Free Look period.

Policy Details:

Policy Numbers: [protected], [protected]

Service Request ID:[protected]

Refund Amount: ₹6220

Cancellation Date: August 2025 (within Free Look period)

Despite submitting all required documents (KYC, cancelled cheque, bank details in PDF, and statement showing deduction), and receiving confirmation from the company on 20th August 2025, the refund has not been processed. I have followed up multiple times over the past two months without success.

This delay is in violation of IRDAI’s Free Look guidelines and indicates poor grievance handling by both entities involved.

Request:
I kindly request IRDAI to:

Direct Policybazaar and Bajaj Allianz to process the ₹6220 refund immediately

Share transaction details and closure confirmation

Ensure such lapses are not repeated