Location/place: Bangalore
Name of company/service: bajaj allianz Sarve shakti suraksha
When I opened a suidha account in Citi Bank their agents told me that they have a ULIP type of scheme but instead of locking period of 5 years this one has a locking period of just 1 year. Your money will grow and you can withdraw after 1 year without any penalty.
I had purchased this policy in June2011. The premium amount of Rs 1500/- of which was getting deducted from my CITIBANK salaried account on monthly basis.
Also I have paid premium for 19months (Rs 28500/-) and I am getting cancellation refund amount of Rs 19474/-. Where is the rest of the money that I have paid?
So how could they deduct 40% of the total premium paid amount?
On trying to call the Bajaj Allianz agent, I am getting no response.
I agree and subcribed. I kep asking them for the policy document which till date even after 2 years I haven’t received.
Then through other sources I came to know about this fraud with other consumers as well.
They will deduct as high as 40 % of the premium.
It was a huge mistake on my part that I trusted this fraud company Bajaj Allianz, even though my friends asked me not to invest in it.
Even the premium certificate appears to be fake.
Kindly advice how can I get my full refund amount.
I am left all stranded and cheated in this nexus!!
I am going to raise a complaint against it in Cosumer court by hiring a lawyer.
Regards,
Alok Agrawal
+91-8007517979
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