Bajaj Allianz
Fraudulent practices

Dear Sir,

I had taken two Unit Gain Plan through an agent of Bajaj Allianz, Kailas Plaza, Pattom, Trivandrum- 4, Kerala. Policy No:0006704420 started on Jan 05 and policy no:0004824966 started on June 01 and paid full premiums of Rs10000 each for three years. The agent had said that i had provision for full withdrawals after three full paid premiums and that its optional for me to pay premiums after that and the money I had paid could anytime be withdrawn by me. I asked for full withdrawal in the year 2009 after 5 years for which they gave two cheques dated 27 Aug for Rs.26285 and Rs26992 even though they had assured a sum of Rs50000 each at the time of joining the policy not even the money I had saved and deposited.

Now they are saying the policy premiums term is of 09 yearsand Rs.50000 is a Sum assured for that you have to pay premium for 09 full term years. How can the sum be just 50000 when you pay full premium for 9 years and that would amount to Rs90000.

Awating a favourable reply.

Company: Bajaj Allianz
Country: India
State: Kerala
City: Thiruvananthapuram

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