Didnt pay for past 2 yrs in Bajaj Allianz CUG scheme – What to do ?

POSTED BY Jha ON December 11, 2013 8:58 pm COMMENTS (7)

Dear All

I have invested in Bajaj Allianz CUG for a continuous period of 5 yrs (2006 to 2011). Paid 5 x 10,000/-. However, I have not paid for the past 2 years (2012 & 2013). I understood the fund is not doing well. My invested amount of 50,000/- has become Rs. 60,000/- only. They are providing me life insurance of Rs 200,000/- as part of the scheme.

Pl. advise me whether to continue the scheme without future payments from my side or you want me to withdraw from the scheme and take back the 60,000/-.

Thanks in advance.

Regards, Jha

7 replies on this article “Didnt pay for past 2 yrs in Bajaj Allianz CUG scheme – What to do ?”

  1. Jha says:
    December 26, 2013 at 11:19 am

    Thanks Mr. Ashal.
    I also have same view. I will try to exit and invest somewhere else. But, my only worry is to get some fair amount from Bajaj.

    Meanwhile, as suggested by Bajaj team (in the above section), I sent a mail and got a standard worded reply. Its ok.
    Regards, Jha

    Reply
  2. ashalanshu says:
    December 20, 2013 at 2:53 pm

    Dear Jhaji, as you still have 13 years in your hand, please surrender and invest elsewhere to cover up your losses as well as earning something positive.

    Thanks

    Ashal

    Reply
  3. Jha says:
    December 20, 2013 at 11:23 am

    Dear Ashal ji
    Thanks for your reply.
    It seams, my question got confused. My actual query is:

    As I already paid a premium of 50,000/-, I would like to receive a fair amount back from Bajaj. At current market price, the surrender value is only 60,000/-.
    My case with Bajaj is 20 year term. Already 7 yrs completed.
    Do you advise me to continue for some time to receive back a fair amount from Bajaj (IRR to be about 8%) or shall I surrender now and take back the 60K amount.
    Pl. advise.
    Regards, Jhaji

    Reply
  4. BajajAllianz says:
    December 12, 2013 at 4:42 pm

    Dear Mr. Jha,

    Greetings from Bajaj Allianz! We would like to help you in addressing your query. Kindly provide us with your contact details and policy no. and at help.support@bajajallianz.co.in and our representative will connect to provide the necessary information. Also please mention reference no. “ORM021212” when writing to us.

    You may also post your concern at http://support.bajajallianz.com/support/.

    Regards,

    Bajaj Allianz
    Life Insurance

    Reply
    1. Jha says:
      December 16, 2013 at 10:12 am

      Dear Bajaj Team, Thanks for your reply.
      I will do send a mail with my policy no etc to you.
      Regards, Jhaji

      Reply
  5. ashalanshu says:
    December 11, 2013 at 11:22 pm

    dear Jha, whast about your term cover if any? What is your income? Your expenses? No. of dependents? Your other policies? your assets and networth? The term of this Bajaj policy?

    thanks

    Ashal

    Reply
    1. Jha says:
      December 16, 2013 at 10:06 am

      Dear Ashal ji
      Thanks for your reply.
      It seams, my question got confused. My actual query is:

      I invested in Bajaji Allianz as a pure investment option (Agent sold me saying so). (For insurance, I would like to go with separately).
      As I already paid a premium of 50,000/-, I would like to receive a fair amount back from Bajaj. At current market price, the surrender value is only 60,000/-.
      My case with Bajaj is 20 year term. Already 7 yrs completed.

      Do you advise me to continue for some time to receive back a fair amount from Bajaj (IRR to be about 8%) or shall I surrender now and take back the 60K amount.

      Pl. advise.
      Regards, Jhaji

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.