I took an insurance policy of Bajaj Allianz in 2006 for Rs. 100,000. I demanded an one time policy as I had only Rs.100,000 with me. Agent filled out the proposal form,contrary to rules. While filling out he slyly filled the column for the term of policy as 'annual' in which I have to make minimum three annual payments. This he did it only to get huge commission. Now I learn that one year policy fetches him only 2% commission whereas a three year policy or more earns him 30% commission: the co. too is benefited by a bigger business and earn huge sums from the charges levied on policy and they actively connive in such fraudulent practises.
Further I was not informed of the exorbitant charges the co . levy on my investment.
Today, when I went to surrender my policy the co. informed me there is no money to be paid to me since I didn't pay three minimum instalments. Sir, I 've been inhumanly cheated. I am unemployed and financially poor ; I can't bear this huge loss. Sadly, this is the money my father gave me as share for marriage :its loss is thus fraught with disaster. I pray that I may be rendered necessary advice and help to retrieve my money.
JUlIE T.S..

Hi Tom,

Did you purchase your policy in India or elsewhere? In any case, do let us know your contact details and the policy number at customercare@bajajallianz.co.in
This will help us resolve your complaint faster.

Thanks!
Bajaj Allianz Customer Care
India

Originally Posted by tomsteve

I took an insurance policy of Bajaj Allianz in 2006 for Rs. 100,000. I demanded an one time policy as I had only Rs.100,000 with me. Agent filled out the proposal form,contrary to rules. While filling out he slyly filled the column for the term of policy as 'annual' in which I have to make minimum three annual payments. This he did it only to get huge commission. Now I learn that one year policy fetches him only 2% commission whereas a three year policy or more earns him 30% commission: the co. too is benefited by a bigger business and earn huge sums from the charges levied on policy and they actively connive in such fraudulent practises.
Further I was not informed of the exorbitant charges the co . levy on my investment.
Today, when I went to surrender my policy the co. informed me there is no money to be paid to me since I didn't pay three minimum instalments. Sir, I 've been inhumanly cheated. I am unemployed and financially poor ; I can't bear this huge loss. Sadly, this is the money my father gave me as share for marriage :its loss is thus fraught with disaster. I pray that I may be rendered necessary advice and help to retrieve my money.
JUlIE T.S..