I am a middle class salaried employee.I invested in Bajaj Allianz Life Insurance to save tax in 80 CC and to get life coverage.
NAV on 2nd April 2012 : 16.9029
NAV on 9th April 2012 : 16.75
Service request No raised to get my Rs 400 : 17135447
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- Agent told me the plan which i invested is very good and it can give returns more than bank fixed deposit.
- I started investing Rs 4000 every quarter into a Plan called 'Bajaj Allianz New UnitGain Plus' with 'Partial Permanent Disability ' and 'Accidental death benefit' riders and fund is 'Equity Growth Fund'
- Starting from the first month my investment started decreasing , it gave me -ve returns
- Bajaj Allianz has so many conditions for address change etc also.
- I was awaiting for 3 years lock in period to complete so that i can withdraw my money.
- i paid around Rs 64000 and they paid me finally around Rs.49000 which is around 24% loss to my principal.
- Most interesting part is i submitted my Policy surrender document on 31st March 2012 which was on a holiday.They told me that they would consider next working day 2nd April 2012 Nav
- I recieved my ECS payment on 12th April 2012 considering the NAV value of 9th April which got me around Rs 400 loss.
- When i called to the call center they gave a reply saving that as i submitted on 31st march 2012 which was year end and their systems are designed such that will not take next working day automatically because of year end activity.
- I had to do a couple of follow ups to get my Rs 400 back in check.
- I only lost few hundrend rupees but their might be people losing thousands so my advice is be carefull when you surender or never invest with Bajaj Allianz.
NAV on 2nd April 2012 : 16.9029
NAV on 9th April 2012 : 16.75
Service request No raised to get my Rs 400 : 17135447
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All the messagesbelow are just forwarded messages if some one feels hurt about it please add your comments we will remove the post.Host/author is not responsible for these posts.
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