Unless you want your loved ones to go on the streets!!!
Read my story. In 2003 I tried to buy a childrens money back type policy through them. Due to the poor traininng and incorrect information supplied by their ignorant sales team the policy never materailised. I was told I did not need a medical and after taking my check they informed me the policy was in force. Imagine my surprise 3 months later when I returned from a overseas assignment that there was no policy. I went for a medical and it took another 2 months before they recd the report and issued a policy. By then my son had crossed his 12th birthday and guess what for their incompetency they wanted an increase in premium!!!
Luckily as I had bought the policy through my Bank- my bank paid me back with intrest just to hush up the matter. Allianz bajaj didnt even have the courtesy to apologise.
Recently I tried to cover my housing loan ( a substantial one) through a policy. Same bank same insurer. You think things would change??!! Got the medicals done , loan sanctioned. Went off on a overseas posting came back After 3 months . when I come back some one from allianz bajaj wants to know why I havent done my medical?? That despite having done it before the loan was sanctioned and me paying 3 emi’s already!! Turns out this insurance company routinely goofs up all the time. Not only that the lady bank assurance officer claims they could not contact me as I was abroad. Never heard of nominees/internet email/telephones/the bank which issued the loan?? Incidentally she only services my banks customers and sits inside their home loan office.
Just imagine if it is that difficult buying a policy what is the plight of your loved ones if they have to claim!!!!! Probably we will have to be reborn and do the needful
Avoid this one at all costs. Doesnt really inspire confidence. A proper mix of poor policies/ignorant employees and indifferent management. Let them sink with some one elses funds.