This a complaint against Bajaj Allianz on purchase of Max Gain policies in March 2010.
I have a story to tell about purchase of these max gain policies through your Mulund Branch of Mumbai.

Following three policies, original receipts contain STM Code:1100082664 (Mr. Kamal Shankar Yadav) who was the Sales Manager in M/S.Bajaj Allianz's branch office has approached me requesting and convincing to purchase these three Max Gain policies.

1. Mrs.Rukshmani Kantilal Soni
Policy No.0158288406 (Max Gain), Premium Payment Frequency: Monthly,
Premium Amount: Rs.3,000/-

2. Miss.Yaxika Kantilal Soni
Policy No.0158291248 (Max Gain), Premium Payment Frequency: Monthly,
Premium Amount: Rs.3,000/-

3. Miss.Titiksha Kantilal Soni
Policy No.0158288840(Max Gain), Premium Payment Frequency: Monthly,
Premium Amount: Rs.3,000/-

When I checked with him the reduced allocation units, he has promised to cash back the agents comission(12.5%) to me and therefore I convinced to purchase these policies through him. These have been purchsed by me in the month of March, 2010 and since then I am forced to shellout Rs.9,000/- as monthly premium every month till this date. As Mr.Yadav has resigned from the services, I am not in position to get the cash back amount. I have all the proofs of Mr.Yadav's comitments made to me. I do not know Mr.Sanjay singh on whose name as Insurance Consultant(IC), these policies are credited. Every month's comission of my premium is getting deposited in his account(IC's account) and probably he don't want to shell out the comision money to me.

The fact was brought to the notice of Branch Manager, Mr.Gopal Narayan, immidiately when I came to know the resifgnation of Mr.Yadav from Bajaj Allianz. He promised me that he will do needful. It was told to me that one month's premium of all the three policies(Rs.9000/-) would be managed and need not pay this premium. But since June after Mr.Yadav resigned, no amount as cash back is paid to me by IC. As the year end of first year premium payment is getting completed and second year premium will be started in March,2011, no solution has reached. I don't know what to do? Whether I should stop paying the 2nd year premium, but in this case M/S Bajaj is not going to refund my first year payment and they say it will be forefeited. This is big looting affair. Please do needful so that I get justice at the earliest.