In addition to cheating done by their agents, the company itself is very in-different to the customers’ issues. Their agents make tall claims when they have to grab a new customer but the redressal system for existing customers is pathetically poor. I have 2 ULIPs from Bajaj Allianz. After 7 monts of the 1st investment, I thought to have a look into my account statement-’where my money stands now?’. First of all, the company never sends you the account statement of its own unless you ask for it in particular. May be they never want the customer to get an idea of the cheating they do in your accounts on monthly basis. Anyways they sent me the doc by e-mail attachment, a privilege I think now.
I got the shock of my life when I noticed that they have deducted policy administration charges etc twice at many places for the same dates. I promptly mailed back highlighting the discrepancies in the statement. Ever since 2months of the issue, they have not come out with any sort of explanation.
As rightly said in another review, customer is of least impotance for them. Their toll-free number seldom works. If ever you are lucky enough to talk to some crook on other side, you get the answer- "our computer system is down today, sir"- what a customer care!
They never bother to reply your mail too except issuing a token no., mere formality.
So please do go through your acc staement at least twice a year so that you can find out un-authorised deductions in your account at the earliest. Mine issue is still pending.