The Bajaj Allianz introduced product called Igain, wherein people can buy a ULIP though internet without the help of any agents. Once we check the website, we need to enter our phone number and related details. After repeated phone calls from the company representatives, I have purchased a policy on Dec.06. Due to some problems in their system, the annual income mentioned by me was read as Rs.60, 000 instead of Rs.6, 00, 000 and hence the company refused to issue a policy to me.
On contacting the company's Pune office, I was advised that I should buy their new product Igain II by making a fresh payment and the Company would arrange to refund the premium paid on the first policy within a week's time. Accordingly, I made the payment again on Jan. 13.
I did not get the refund of first premium made till date, inspite of repeated phone calls and follow ups. Every time I make the phonecall, they assure me that the payment will be processed in a day, but nothing happens
Please advise me how to get the refund. I want to charge the company for the interest I lost.
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