Bajaj Allianz Life Insurance Co. Ltd. - Fruad by Bajaj providing loan against policy - Bajaj Allianz Life Insurance
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Complaint by: Sandeep on September 22, 2013, 3:46 pm in Insurance All

I got call from following numbers 91-11-30693092 & 91- 11- 30693070 saying the call is from Bajaj Allianz.

If I open Invest gain policy for 10yrs I would get interest free Loan of Rs. 500000. the annual installment will be Rs. 50000. The first installment will be used to open the Invest gain Policy. They even showed me on the internet there is provision for Loan against the policy.

Rajiv Bhatt was the person who coordinated the entire process from collecting document to scheduling calls.
his contact number is 08586962097 & 9911651731.

I got the policy documents in April 8 2013 & then even I received verification call from Bajaj Allianz for Loan to be disbursed.

But later they said the file is stuck as IT department is not clearing it as I have high salary bracket. I had immediately asked for cancellation of policy. They said they will cancel the policy but it was not cancelled. I even wrote to Rahu Oberoi (Rahul_oberoi@gmaiul.com Agent code 2300037911) but the email bounched from this email account. Then Rajiv Bhat asked me to go to Bajaj Allianz branch. I visited Bajaj Allianz branch on 26 June 2013. they said to cancel the policy it requires HOD approval. The Lady at that branch even spoke to Rajiv Bhat. Rajiv Bhat said he will cancel the policy from his branch.

I even raised complaint with Bajaj Allianz, I have provided all the details to them yet they are not ready to cancel saying once 30 days are passed they cannot cancel the policy.

Bajaj Allianz Agent is saying they have recording for the call for opening Invest gain policy & I have accepted the terms. I received call for Loan which they are denying & asking me for providing proof that I received call for loan. Also they are denying that there is some person name Rajeev Bhat. I have provided all my telephone bills that I made calls on the number.
I am trying to get the policy cancel for more than 4 months now.

Complainant's Goal: Want the policy to be cancelled & refund of my money
Complaint Location: IndiaMaharashtraMumbai

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Recent Comments
7.
Tue, 11 Oct 2016  Abul Hussain Barbhuiya

I want to get back my money from bajaj allianz life insurance,I have given only one premium.

6.
Tue, 11 Oct 2016  Abul Hussain Barbhuiya

I want to get back my money from bajaj allianz life insurance,I have given only one premium.

5.
Tue, 11 Oct 2016  Abul Hussain Barbhuiya

I want to get back my money from bajaj allianz life insurance,I have given only one premium.

4.
Tue, 11 Oct 2016  Abul Hussain Barbhuiya

I want to get back my money from bajaj allianz life insurance,I have given only one premium.

3.
Wed, 26 Nov 2014  Mohan Kumar Singh

Hi Sandeep, I have gone through with your live story, In same way I got call by number:8336928881, they said they will give me 600000 for 10yrs where my EMI will be 7764 but before that I need to submit 60000(10%) as a security via Draft, when I spoke with the Nilottal chathopadhya(Agent) . the way he Described the things I felt some doubt and then Searched in the website of Bajaj Allianz History then I found your Incident which Open my mind , took decision not to go with that person's word. I am really become very careful to take decision about loan things. Thanks to god and to you.

2.
Wed, 11 Dec 2013  Raghavendra Nayak

Hi Sandeep, can you please share your email address or you mobile number. Even I got trapped in this scam. But I have the call records with the agent and I also have got the contact numbers of some people who got trapped in such scam. I have applied for Cancel of policy and refund of entire amount. If they don't do it then I am planning to Lodge FIR and go to consumer court. Now to make the case strong I want to show that this is a systematic scam by company and company has to be fined for that. For this purpose I want your contact number or email address for communication. If you think even I am fraud(I can understand your situation as I am in same situation now and don;t know whom to trust) then please mail me at rjnayak98@gmail.com.

1.
Thu, 26 Sep 2013   Message By Complainant Sandeep Patil

Hi,

I have emailed my policy number to help.support@bajajallianz.co.in.

Please look into this matter as I am being trying to close this from last 4 months