Dear frenz,

We are living in a world with no king. U r authorised to do whatever u like provided you are powerful with soothing bless of our country's ............. politicians. Plz dont expect much from SEBI or IRDA (since I am talking with reference to insurance). They are here to suppress the voice common public and not to serve the interest of general public.

I too have a few instances where I was cheated by AVIVA and BAJAJ allianz. I would not blame the companies for these insane acts instead the employees responsible to facilitate the services of the company to General Public and their agents. Most of these employees are not having sound knowledge of what they are dealing with and thus they end up misguiding to their stakeholders. They don't even bother to think about the consequential predicament upon the common man that might arise due to their misguidance. There may be lots of reasons for such act of employees of a company but the major of them is lack of proper training and the nature of being acquisitive culturist. Secondly, the agents are on the look out for their commission. They too are not bothered of the worst consequence of their misguidance upon the customer. They just need their commission. Thus, primarily these two class of people are responsible for misguiding the customers. But on the whole the company is responsible for such shameless acts of these employees and agents since they act as the interface of the company to a customer. Anyway, this is just my point of view and moreover, we are not here to ****yse things.

Well, with AVIVA, I had invested in a certain plan for Rs.4,000/- quarterly. I had paid four premiums. For the first two premiums I got premium payment receipts. But for last two premiums I didn't receive the same. I had told my agent that I am not going to pay the next premium unless I get premium payment receipts for those last two premiums. I had told the same to those company executives (premium reminder calls) many a times over telephone who in turn took my postal address, email address so that they would send the same in hard form as well as soft form but to no avail. This drama went on and I kept on reiterating my problem alongwith postal and email address for more than 10 times to these tele callers. Time passed on and the renewal period was over in Sept 2010. But I still couldn't get the payment receipts.

Now when contacted they are saying that nothing can be done since I didn't fulfill company's norms of payment of minimum numbers of premiums and also all records like despatch of receipts to me are OK as per their records and thus I may have to forfeit the amount.

While taking a decision like "Nothing can be done" they took into consideration their facts and not those screams which I had made for two consecutive years to those tele call executives and my agent. Is the company not responsible for those acts of tele call executives irresponsibility?

BAJAJ Allianz-

Making alliance to loot innocent public.

I have invested in a policy in Bajaj Allianz for Rs. 25,000/- in 2008, The Insurance Sales Officer (ISO) at outset told me that this is a special scheme of Bajaj under which a customer needs to pay single premium instead of three minimum premiums. The ISO also told me that this amount can be withdrawn after three years (Approx Rs.50,000+) or five years (Approx Rs.1,50,000+) or after ten years (Approx Rs.5,00,000). Convinced by the agent, I had deposited the amount and accordingly got the papers whereby it was written that it is a first premium. Immediately I had informed the ISO but I was told that this is printing mistake and it would be corrected soon.

After one year , I got a call from Bajaj asking me for the second premium. I had told the case to the tele call executive of Bajaj and now the executive says that this amount can't be withdrawn after three years. OK fine, atleast I will get the amount after five years if not three years. Immediately I tried to contact ISO to inform the case but by that time the agent was clueless since the ISO's mobile connection was not available. As a token of memory, the visiting card of the ISO is still in my purse.

When I went to their office to get further clarification in this regard, i also had an opportunity to see my fund value. Interestingly, the total amount was nearly Rs.22,000/-. Won't it draw everyone's eyebrow for such a lucrative growth of my fund in just three years though in reverse order. WELL DONE BAJAJ.........

But they still keep charging for Fund Managers, allocation charge etc..... Just ridiculous. How inefficient fund managers are being retained Bajaj who can't make Rs.25,000/- to even Rs.26,000/- in three years time. Even a laymen could have appreciated the value.

And we are so FORTUNATE that despite our unwillingness we are bound to pay charges to these inefficient and ineffective fund managers.

They are also charging allocation charge for allocating our funds under such a head where positive growth is a rare instance. But we still have to pay the charge.

If anyone can guide me towards a positive outcome in either cases would immensely help.

Dear Sir,

Sorry for the inconvenience caused.

We humbly request you to send us your contact details and policy number to help.support@bajajallianz.co.in.

We would get back to you shortly after that.

Regards,
Bajaj Allianz

Originally Posted by Unregistered

Dear frenz,

We are living in a world with no king. U r authorised to do whatever u like provided you are powerful with soothing bless of our country's ............. politicians. Plz dont expect much from SEBI or IRDA (since I am talking with reference to insurance). They are here to suppress the voice common public and not to serve the interest of general public.

I too have a few instances where I was cheated by AVIVA and BAJAJ allianz. I would not blame the companies for these insane acts instead the employees responsible to facilitate the services of the company to General Public and their agents. Most of these employees are not having sound knowledge of what they are dealing with and thus they end up misguiding to their stakeholders. They don't even bother to think about the consequential predicament upon the common man that might arise due to their misguidance. There may be lots of reasons for such act of employees of a company but the major of them is lack of proper training and the nature of being acquisitive culturist. Secondly, the agents are on the look out for their commission. They too are not bothered of the worst consequence of their misguidance upon the customer. They just need their commission. Thus, primarily these two class of people are responsible for misguiding the customers. But on the whole the company is responsible for such shameless acts of these employees and agents since they act as the interface of the company to a customer. Anyway, this is just my point of view and moreover, we are not here to ****yse things.

Well, with AVIVA, I had invested in a certain plan for Rs.4,000/- quarterly. I had paid four premiums. For the first two premiums I got premium payment receipts. But for last two premiums I didn't receive the same. I had told my agent that I am not going to pay the next premium unless I get premium payment receipts for those last two premiums. I had told the same to those company executives (premium reminder calls) many a times over telephone who in turn took my postal address, email address so that they would send the same in hard form as well as soft form but to no avail. This drama went on and I kept on reiterating my problem alongwith postal and email address for more than 10 times to these tele callers. Time passed on and the renewal period was over in Sept 2010. But I still couldn't get the payment receipts.

Now when contacted they are saying that nothing can be done since I didn't fulfill company's norms of payment of minimum numbers of premiums and also all records like despatch of receipts to me are OK as per their records and thus I may have to forfeit the amount.

While taking a decision like "Nothing can be done" they took into consideration their facts and not those screams which I had made for two consecutive years to those tele call executives and my agent. Is the company not responsible for those acts of tele call executives irresponsibility?

BAJAJ Allianz-

Making alliance to loot innocent public.

I have invested in a policy in Bajaj Allianz for Rs. 25,000/- in 2008, The Insurance Sales Officer (ISO) at outset told me that this is a special scheme of Bajaj under which a customer needs to pay single premium instead of three minimum premiums. The ISO also told me that this amount can be withdrawn after three years (Approx Rs.50,000+) or five years (Approx Rs.1,50,000+) or after ten years (Approx Rs.5,00,000). Convinced by the agent, I had deposited the amount and accordingly got the papers whereby it was written that it is a first premium. Immediately I had informed the ISO but I was told that this is printing mistake and it would be corrected soon.

After one year , I got a call from Bajaj asking me for the second premium. I had told the case to the tele call executive of Bajaj and now the executive says that this amount can't be withdrawn after three years. OK fine, atleast I will get the amount after five years if not three years. Immediately I tried to contact ISO to inform the case but by that time the agent was clueless since the ISO's mobile connection was not available. As a token of memory, the visiting card of the ISO is still in my purse.

When I went to their office to get further clarification in this regard, i also had an opportunity to see my fund value. Interestingly, the total amount was nearly Rs.22,000/-. Won't it draw everyone's eyebrow for such a lucrative growth of my fund in just three years though in reverse order. WELL DONE BAJAJ.........

But they still keep charging for Fund Managers, allocation charge etc..... Just ridiculous. How inefficient fund managers are being retained Bajaj who can't make Rs.25,000/- to even Rs.26,000/- in three years time. Even a laymen could have appreciated the value.

And we are so FORTUNATE that despite our unwillingness we are bound to pay charges to these inefficient and ineffective fund managers.

They are also charging allocation charge for allocating our funds under such a head where positive growth is a rare instance. But we still have to pay the charge.

If anyone can guide me towards a positive outcome in either cases would immensely help.