[Resolved] Bajaj Allianz - Unit Gain Plus Gold — Excessive Surrender charges for policy

[Resolved] Bajaj Allianz - Unit Gain Plus Gold — Excessive Surrender charges for policy

G gadaginaveen from Bengaluru, Karnataka May 19, 2012

Hi, My name is Naveen Gadagi. I have taken the Bajaj Allianz - Unit Plus Gold having policy # [protected] back in 2007.I had premium amount of Rs.12000/- per annum.Current fund value is around Rs.32000/-.At the time of taking the policy the Bajaj Allianz people told me that there would be 3 years lock-in period and after which I could withdraw my money back. Now when i m trying to withdraw my money for personal financial needs these people are saying that I will be charge 40% of first year premium and that would be around Rs4000/- . That means the total i will be getting back less that invested. it is like Bajaj Allianz is cheating people misleading them. I request IRDA to please help me in this and get my money back without any loss. Thanks & Regards Naveen B Gadagi Was this information helpful? No (0) Yes (1)
Aug 13, 2020 Complaint marked as Resolved
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Bajaj Allianz Customer Care

from Mumbai, Maharashtra

May 22, 2012

Verified Support

Dear Mr. Naveen Gadagi,

Bajaj Allianz always values its customers and hence we apologize for the inconvenience caused to you.
Please note that we have received your request and are investigating the matter. Can we request you to allow us some time to look into this matter??? Our support staff will soon get in touch with you.

We would like to inform you that we have created a separate customer care portal http://support.bajajallianz.com/support/ where you can post your queries.
We appreciate your patience and time.

Thanks and regards
Bajaj Allianz Customer Support

smrahase

from Kunigal, Karnataka

Oct 8, 2012

Hi,

I totally agree with Mr.Naveen Gadagi. Bajaj Allianz is cheating people and misleading them.

I have been given same information for premium amount of Rs. 15000 with locking period of 3 yrs in 2007.

Now my Current fund value is around Rs.44000/-, for withdrawal of this amount they are charging 38.61 % of first premium amount. Finally I lost my amount of Rs. 6000 without getting any benefits.

Bajaj Allianz is cheating with their customer, I lost my confidence on Bajaj Allianz and and will never invest 1 rupee with their association.

Regards,
Sudhir Rahase

Ajit Agrawal

from Delhi, Delhi

Sep 14, 2016

Dear All

My name is Ajit Agrawal. I have taken the Bajaj Allianz - Unit Gain Plus Gold having policy # [protected] in 22nd Nov, 2007. I paid 5 equal premiums of Rs.100000/- each year for 5 years i.e total Rs.500000/- . Status of Policy was Paid-Up. I surrendered the said policy on 8th Sep, 2016 at around 11 AM. Total fund value should be Rs.775568.47 as per NAV of Rs.22.972 for 33761.4691 units. But I received Rs.763150/- i.e less Rs.12418.46.

I request IRDA to please look into the matter & help me to get the amount of Rs.12418.46

Thanks & Regards
Ajit Agrawal - [protected]