[Resolved]  Policy Bazaar — double payment deducted

Address:	Mumbai City, Maharashtra, 400604
Website:	www.policybazaar.com

Policy no : [protected] product name : life goal assure
Insurer : bajaj alliance life insurance

I was sold this policy by sandeep from policy bazaar.

Lot of big talks and fake commitments given by everyone at policy bazaar.in reality, they have the worst customer service.

Coming to the issue, i started a sip for 3000 rupees monthly in september 2018 and made the first premium payment by my sbi credit card as directed by the policy bazaar (Pb) agent. I had strictly instructed not to setup any sort of auto debit or standing on the card and the same was confirmed by the pb agent. When i tried paying my 2nd premium in oct 2018 i was not able to do it on bajaj alliance website as they kept prompting that standing instruction is already set up on my card. While i investigated i was made to understand that policy bazaar has kept standing instructions on my credit card even though they were specifically instructed not to.

Additionally, on the due date despite standing instruction being activated the card was not charged. I was in a total fix. I could not make the payment through other sources as policy bazaar had kept standing instruction on my card and even my credit card was not being charged. Somehow after the due date they would have probably realised that they have made a fool of themselves and somehow i could pay my october premium through my american express card.

Come november, this time i did not see any prompt for auto debit or standing instruction and i proceeded for a regular one time payment with my sbi credit card. I was duly charged for the premium paid on 24th nov 2018 which was a day prior to the due date. I was under the impression that things will be smooth from here on.

Little did i know that this is policy bazaar and if you have purchased any policy from them problems will attract you till the time you are associated with them. When i received my credit card statement for the month of december on the 9th dec, i was surprised to see 2 charges for the nov premium (Screenshot attached).

Then started a series of follow up with the bank, bajaj alliance and policy bazaar and as expected the culprit here is policy bazaar.

They have the arrogance to tell me that the excess premium will be adjusted as the next months and this will happen every month as they cannot deactivate standing instruction on the credit card.

This is the most ridiculous reply from any customer service team i have ever heard.

I need assistance in resolving this issue asap.

The desirable solution i am looking forward to is:
-immediate refund of the excess amount deducted
-immediate cancellation of standign instruction or auto debit if it still exists.
-explanation from policy bazaar officials how could they charge my card without my knowledge.
-assurance from policy bazaar officials that something like this will never be repeated and my card details are safe in their custody. (Today it was a repeat premium of a relatively small amount they could use it for any other purpose)
- monetary compensation from policy bazaar for time and effort lost in this fiasco and the mental trauma undergone.

I will be reachable on [protected] / joy. G. [protected]@gmail.com for any information required from me.