Ulip insurance
Parveen Goyal
(Querist) 11 May 2012
This query is : Resolved
Dear Sir/ Madam
I got ulip ins from Bajaj Allianz. after depositing 2 premium installments i was failed to deposit 3 premium for about 11 months. co forfeited my policy and units by converting them in Rupees as per NAV as policy terms. when i revived my policy by depositing due premium co released my value by converting in units as per current NAV. co has deducted diff charges in name of policy admn, initial management etc.
I want to ask can co deduct charges for the period when it is not giving any growth benefit and policy was in forfeited condition and co was not working on it. Please clear.
thanks
Nadeem Qureshi
(Expert) 11 May 2012
Dear Mr. Goyal
Its depend on the terms and condition of the policy or insurance company.
feel free to call
Shonee Kapoor
(Expert) 11 May 2012
cross-check with all fine prints in the complete policy document which they have given to you while you took this policy.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
ajay sethi
(Expert) 11 May 2012
bajaj Allianz is reputed name in insurance . under terms and condion of policy the company recovers from policy holders ADMINSTRATION CHARGES, mortality charges , service tax .since you ahve signed on the dotted line you have to pay .
Parveen Goyal
(Querist) 12 May 2012
Dear Ajay Sir,
Bajaj Allianz is reputed but today this co has no reputation. but i am not in controversy. my question is this for which period co had forfeited the policy and no market growth is given can co deduct charges for that period or not. please
