I have taken the policy from bajaj allianz in 19.04.2007 policy no. 0049438683, i paid the premium for 5 years, and the policy completed 6 years, Maturity date of the policy is 19.04.2017, Now i Surrender my policy on 23.06.12. They are telling your policy term is 20 years and deducting the 20.9948% as penality. Previously the ins. staff confirms after 19.04.2012 there is no ded. on surrender. but now they are telling the other thing. copy of a reply rec. from the bajajallinz is also pasted is here by for yur reference, Please justfy me by taking action against insurance company.

Mail givin to Bajajallinz

My policy commencement date is 19.04.2007
Maturity date is 19.04.2017
Term of policy is 10Years
Policy No. 0049438683 capital unit gain

How you are telling/claiming the policy term is 20 years, your calculation is wrong, Iam requesting your self to re calculate my refund value other wise i will opted to go to consumer forum against you. Your staff is not taking care of your customers. Please go through my policy.Requesting for revert back

Regards
M.CHAKRADHAR

From: “customercare@bajajallianz.co.in”
To: mchakradhar45@yahoo.com
Sent: Friday, June 22, 2012 3:45 PM
Subject: New Complaint on Help and Support | mandalpu chakradhar

Dear Sir,

In reference to your below mail dated 22nd Jun 2012.

You have opted for “Capital Unit Gain”, the policy premium term is of 20 years.

We want to inform you, for your policy surrender panelty applicable till maturity. For more assistance kindly refer policy bond.