Suggestion Complaint Remedies सुझाव / Suggestion शिकायतें / Complaints निराकरण / Remedies

Non Payment of Life Insurance Policy

Complain ID : CCN025019   35  

Insurance Complaint Complaint Date: December 20, 2016
  • State :  Maharashtra
  • City :  Pune
  • Address: Flat No.1, Yamuna B-2, Siddhivinayak Prastha, Sector 26, Nigdi Pradhikaran, Near Ganesh Talav
Dear Sir/Madam,

This mail is regarding Payout of Policy No.- 0240584710.

As the Policy discontinued and completed 5 years on 06\12\2016 and as per policy terms and conditions , discontinued fund value will be disbursed to account holder.

I have following Complain :-

1.In Month On Nov.2016 , I called customer care of Bajaj Allianz and asking about what is the process of disbursement of Discontinued fund. I got reply that I don't have to do anything and on the date of completion of 5 years , system will automatically generate request for payout and cheque will be issued in my name (i.e. Policy Holder name) and will be delivered to my Home address.

2. On 5th Dec. 2016 , I called again customer care and want to reconfirm that everything is lined up , at that time customer care executive told me that cheque will not be issued automatically and I have to first surrender the policy document, Bank details, address proof, identity proof to the Bajaj Allianz branch. I was a bit surprised that how in a month process changed.

So, to submit the documents I had taken half day leave from my office and submitted required documents on 8th Dec. 2016 at Morwadi Branch,Pune. A service request is generated i.e. 65146776.

At that time it was told that in Maximum 10 working days payout will be disbursed in my account.

3. on 13th Dec. 2016 , got mail that service request 65146776 is processed and closed.

4. On 15th Dec 2016 , got message on my mobile no. that service request 65146776 is processed.

5. After I called customer care executive that service request is processed , when my payout will be disbursed, then there is no answer and told that forwarding mail to concerned department.


6. on 19th Dec 2016 , got call from Bajaj Allianz and was informed that Policy payout will take 15-20 days more. I am right now in shock, that after all submitting documents , service request processed , promise of 10 working days is over ,why the payment is not done.

my problem is that -I had made settlement of Credit card and promised payment on 23rd Dec 2016, by keeping the time limits You i.e. Bajaj Allianz promised for payout that in "Maximum 10 working days" payment will be transferred in my account.

I submitted documents to Bajaj Allianz on 8th Dec 2016 and its already processed and "Maximum 10 working days" is also completed but till date i didn't received my payment.

If i didn't receive my payment then my credit card settlement will not be done and i have to pay around 50K more if i couldn't pay till 23rd Dec.

Kindly request you to help me out in payment of my Life Insurance policy.

With Best Regards

Shahnawaz Ghauri
Contact No.- 7276284725
Complaint Against / To: Bajaj Allianz Life Insurance Co. Ltd.

Share Now Ask Question Reply Now Contact Submit Complaint

Related complaints

Complaints

    Service issue | Complaint | Query | Feedback | Suggestion | Reply

    eConsumer Court (Online Upbhokta Forum) take the complaint directly to the escalation team of the company, which has the power to resolve your grievance. We send a well-drafted letter to the company, explaining the details of your complaint along with the inconvenience caused to you. Jago Grahak Jago is specially to help consumers to redress their issues and grievances. We ensure to take quick actions on every complaint filed by the customers. We work hard and tirelessly to resolve the case.