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Complaint Details


Posted byvinayak chitnis 
Organization / Product Details
Organization Name
Product/Service Descriptioncapital UNit Gain size one
Warranty StatusDo not know.
Complaint Details
Reason for ComplaintReliability 
Complaint Rating10(in a scale of 1 to 10)
Name of the Company Employeecustomer focus unit 
Complaint Details

I am having Capital Unit Gain Size One Policy taken on 12th MAy08 for Rs.12,000/- premium per year. From last two years it has not being paid due to fund problem. Now the policy is under “Lapse” status and after 3 years of locking period atleast they should returned my 12,000/- amount. But they have given reply as below.
Miss Maria S. from customer focus unit of M/s Bajaj allianz written to me that

"The unit-linked policy has three years of lock in period. After three years, customer gets facilities of premium holiday, partial withdrawal, or surrendering the policy.
The policy can be surrendered only after first three policy years provided all “Regular Premiums” due during the first three policy years have been paid."
I have written to them as below.

I am not understanding your Email and concept.

If due to any fund problem, a person can't pay the amount of Rs. 12,000/- for next two years then after 3 years of locking period, how he can pay the whole 3 years amount?.

You must have to returned that Rs.12,000/-at least after 3 years of locking period.

This is not done.If this is the only policy then I have to take it to the consumer court.

Waiting for the reply.

Solution of your complaintI am expecting to get atleast my basic amount Rs.12,000/- after 3 years of locking period. 
ActionI will approach to consumer court through you. 
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