I have taken total 5 policies from Bharti AXA which was scam. I am sorry for long review but it’s important to show how I get fooled and it may save others. Incidents happen as below:
Step1: I took policy 1 and 2 in April 2023. No complaints about these.
Step2: In Oct 2023, Insurance agent Samadhan and Dhanraj called me over WhatsApp and told there are new benefits announced by the Bharti AXA for existing Elite advantage customers. If I take any new policy, there will be a fixed bonus of 150% of annual premium from 3rd year to 7th year and also payment term will be 7 years only. Although the maturity period will remain 12 years. Samadhan have told me not to mention it in any recording or confirmation calls. After some discussion and conversation, I took policy 3 and 4. Here few Q&A with them:
Q) How Bharti AXA can give benefits like this, not sound economical for any company?
A) Bharti AXA doing profit sharing to existing Elite advantage customers which are just 343 people across India, If they don’t do it then the same money will go into taxes.
Q) Kindly provide me with an email or document to confirm this and will it be captured in the policy document?
A) It’s a profit sharing by Bharti AXA so it won’t be in generic policy document but 3rd year bonus letter will be generated within 15 days of 2nd annual payment date.
Step3: In Mar 2024, these agents(Samadhan and Dhanraj) again called me and told an additional benefit added to Elite advantage customers. If I take a new policy at least of 2 lakh Rs annual premium then there will be fixed bonus of 170% from 3rd year to 7th years with payment term 7 years applicable for this new policy as well as previous policies which taken within last 1 year. This time I took policy 5. All convincing story re-iterated same as mentioned in Step2.
Problems:
P1) I was expecting 170% annual bonus letter for 3rd year for policy 3 and 4 by 15th Nov 2024. Also, payment term should be 7 years for policy 3, 4 and 5. None of these mentioned in policy document. I am suspecting to become a victim of financial fraud.
P2) Till December, these agents were responding on WhatsApp. In Dec 2024, One guy ’Robin’ from Bharti AXA technical support called and ensured, all benefits communicated will be reflecting in portal by 15th January. This delay is due to technical upgrade at Bharti AXA and also due to setting up new offices in Chennai.
P3) On 14th Jan, I received a call from Bharti AXA technical support team named ’Karthik’. He told, he is checking with backend team and get back to me. Now none of them are responding. So far, I communicated from 4 people as below and all these operating from Mumbai branch(not sure real or fake). Chances of fake is less because premium deposited to valid Bharti AXA accounts.
a) Samadhan(882890xxxx, bharti axa sells team),
b) Dhanraj(836922xxxx, bharti axa sells team and senior of Samadhan)
c) Robin.(number not saved, bharti axa technical team).
d) Karthik(750654xxxx, bharti axa technical team).
Conclusion:
These people are extremely fraud and smart. They set chat timer expiry of WhatsApp and never contact from official number or email. As soon as you set chat timer expiry off, they stop responding immediately. Even if you call Bharti AXA complaint department, they will ask documentary proof. I am sure many people like me reaching to them and it’s a join venture of frauds. I do complained to IRDA but chances of response is very slim. Please record all calls happen with these people in case you still going for it.
To convince people, these agent tell you please speak to my senior. All these utter nonsense and pure fraud, nothing else. Why they ask to make 2nd payment because policy turned into paid up status once second payment done. These agent’s commission and count for policy bring in to organisation considered for their further growth and compensation. Just take official email and record all calls if anyone still want to take any insurance plans.
Government should take strict actions to these criminals. You see how confident they share mobile number and names. Looks even if someone complain also, nothing will happen. Not sure what IRDA is doing. I guess they will come behind us immediately if you miss a payment(just kidding).