Bajaj Finserv OD

It is a TRAP (Big NO NO)

The MOST important point please do not believe whatever sales executive will tell you.
They will talk as if it is the best Loan, you can get and very easily with no interest if you are
not using it.
I will get into details later; I will tell you quickly how they will trap you.

1) Even if you do not want, they will give you 8 Lakhs (50% Trapped).
2) They will give you the Loan for 5 years even if you want that for 1 year. (70% Trapped)
3) All their fees and insurance are(in%) based on Total Amount sanctioned to you. (80%
Trapped)
4) Exceptionally High Rate compared to any other bank. (90%)
5) They will ask your signature on 20-25 Places, without even telling you all the details
(100% Trapped and Envelop sealed).
I have burnet my fingers, so I do not want anyone else to get cheated by Bajaj.
They will give you loan for Maximum amount even if you need just 2 Lakh, they will
sanction 6 or 8 Lakh for you.
Because they deduct all their processing fees and charges on Total Amount issued to you
They will deduct 50, 000+ from the disbursal amount itself.
You will have to pay Interest for all 5 years, even if you needed loan for 1 or 2 years.
They will make you sign for necessary like CPP (Wallet Protection) without even telling you
what it is and When a Card protection plan is needed for a Personal Loan or is it an optional
service.
They will take all these fees from your amount only and deduct without your information.
They will disburse complete 8 Lakh in your account, and you must pay High interest on
entire 8 Lakh EMI of 25, 000, where in you needed Loan of just 2 Lakh.
Please Guys, I am warning all of you, do not get trapped do not believe the tele callers they
need to achieve their targets that is it, once you sign Documents, they will not pick your calls.
You will get Mail for confirmation with hardly any details. No Breakup for Insurance, Total
Cut from disbursed amount and unnecessary subscription like CPP or Wallet protection.
Once you are in it you are trapped with all 8 Lakh with extremely high Interest Rate for 5
years.
You must pay as they have all your signatures, if you complaint them about anything they
will clearly say, you signed for it, you should have read the Documents carefully before
signing on them.
Rest your wish, Guys It is our Hard-earned money. Do not get trapped.
I understand you are here because you need money for some urgent work.
I will say try some other means first, if you do not get it from anywhere else then make your
mind and get trapped for 5 years.
Hi please BEWARE...!!!! Do not fall PREY...!!!
Please beware of the Bajaj FinServ. It is a fraud company. They are looting big time.
I recently got a call for their overdraft facility. Below are few of my experiences.
1. I was not interested in taking OD facility but the tele caller suggested me that I
would keep it as an extra thing as interest would be charged only on utilised amount,
so I agreed.
2. They approved a loan of Rs, 500000 with 1.5% processing, 14.5% Interest some
Rs 2000 flexi fee, Rs 200 stamp fee and HDFC insurance of 12000.
3. I immediately asked them to cancel my loan as I was not willing to pay those
charges.
4. Upon a series of discussions, they finally agreed to waive off some processing
fee and reduce interest rate. The final rate agreed was 14% interest, 1% processing,
1999 flexi fee, 200 stamp fee and no insurance.
5. They asked me to reply to final email. I read the email carefully and replied the
first time.
6. Now here was the catch, they sent the same approval email for 3 to 4 times
saying they had some VERSION (yeah that is the word that bitch used). To my bad
luck I replied to the last email which this time had a Rs 2999 of Financial Fitness
report charges. This was not present in all the previous emails they sent me.
7. They dumped the entire loan amount to my salary account now. I really do not
know what I have to do with it. One of their officers suggested me to repay it back to
their portal. I even do not know how to do it :(
8. Now I must figure how to get rid of this mess.

Please guys do not fall for it. It is a total SPAM.

Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02)
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02)
TATA NLC HEALTH RIDER (UIN: 110B031V02)
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02)
Tata AIA Life Insurance Non-Linked Comprehensive Health Rider (UIN: 110B031V02)
Disclaimer
DISCLAIMER
Disclaimer
 Medical Second Opinion / Personal Medical Case Management is an optional service
offered to you at no additional cost. You may exercise your own discretion to avail the
services, and to follow the treatment path suggested by the service provider. These
services shall be directly provided by the service provider, and the services can be availed
only when the policy/rider is in force. All the supporting medical records should be
available to avail the service. The Company reserves the right to discontinue the service
or change the service provider at any time. The services are being provided by a third-
party service provider, and Tata AIA Life Insurance Company Ltd. will not be liable for
the details or accuracy of any information provided by them.
 Riders are not mandatory and are available for a nominal additional cost. For more details
on the benefits, premiums, and exclusions under the riders, please refer to the Rider
Brochure or contact our Insurance Advisor/Intermediary or visit our nearest branch office.
 If the Return of Balance Premium option is chosen with any of the benefit option(s), an
amount equal to the Total Premiums Paid (excluding loading for modal premiums)
towards the benefit option, minus any claim amount already paid out under the respective
benefit option, shall be payable at the end of the benefit option term, provided the benefit
option is in force and all due premiums have been paid.
 Income tax benefits would be available as per the prevailing income tax laws, subject to
fulfilment of conditions stipulated therein. Income tax laws are subject to change from
time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on
tax implications mentioned anywhere in this document. Please consult your own tax
consultant to know the tax benefits available to you.
 This Rider is underwritten by Tata AIA Life Insurance Company Ltd. This Rider is not a
guaranteed issuance Rider, and it will be subject to Company’s underwriting and
acceptance.
 For more details on risk factors, terms, and conditions, please read the Sales Brochure
carefully before concluding a sale.
 All Premiums are subject to applicable taxes, cesses & levies, which will entirely be
borne by the Policyholder, and will always be paid by the Policyholder along with the
payment of Premium. If any imposition (tax or otherwise) is levied by any statutory or
administrative body under the Policy, Tata AIA Life Insurance Company Limited
reserves the right to claim the same from the Policyholder. Alternatively, Tata AIA Life
Insurance Company Limited has the right to deduct the amount from the benefits payable
by us under the Policy.
Website Disclaimer
 The information, material, advice, suggestions, illustrations, notifications, circulars, etc.
are collectively referred to as the ‘content’ on this website. Tata AIA Life Insurance
Company Ltd. assumes no responsibility of any mistakes, inaccuracies, and omissions in
the content on this website.
 
 Tata AIA Life Insurance Company Ltd. neither makes any promises, nor representation
concerning any content provided on or through this website and disclaims itself of any
liabilities thereof. Any action taken by you based on the said content is solely at your
discretion, and you are responsible for the consequent/resulting risk, if any.
 
 Tata AIA Life Insurance Company Ltd. reserves the right to change, update, or correct
the content in full, or in part, as and when required, at its sole discretion. The content
displayed on this website is for your personal use only. The said content shall not be
reproduced, in print or electronically, without the prior written consent of Tata AIA Life
Insurance Company Ltd.
 
 Email messages sent over the internet cannot be guaranteed to be completely secure. The
integrity of such messages cannot be guaranteed on the internet and Tata AIA Life
Insurance Company Ltd. bears no responsibility for any losses and/or damages incurred
by the users because of sending messages/emails sent to, or received from Tata AIA Life
Insurance Company Ltd.
 
 Tata AIA Life Insurance Company Ltd. will never send emails from domain names other
than the ones listed here:
o <Domain name 1 here>
 
o <Domain name 2 here>
Please do not respond to any emails other than those originating from the a forementioned
domain names, as the same may be fraudulent messages or phishing attempts.
 

Product Disclaimers
This product provides insurance cover and is underwritten by Tata AIA Life Insurance
Company Limited. For more details on risk factors and terms and conditions please read the
sales brochure carefully before concluding a sale.

 Income Tax benefits will be made available as per the prevailing income tax laws,
subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to
change from time to time. Tata AIA Life Insurance Company Ltd. does not assume
responsibility on tax implications mentioned anywhere in this document. To know the
tax benefits available to you, please consult your own tax consultant.
 
 Riders are not mandatory and are available at a nominal extra cost.
  
 All Premiums, Charges, and interest payable under the policy are exclusive of applicable
taxes, duties, surcharge, cesses, or levies which will be entirely borne/ paid by the
Policyholder, in addition to the payment of such Premium, charges or interest. Tata AIA
Life shall have the right to claim, deduct, adjust, and recover the amount of any
applicable tax or imposition levied by any statutory or administrative body, from the
benefits payable under the Policy. Kindly refer to the proposal/Sales Illustration for the
exact premium/fees/charges, and please note that past performance is not indicative of
future performance.
 Section 41 of the Insurance Act, 1938 - Prohibition of Rebate:
o
o
 Section 45 – Policy shall not be called in question on the ground of misstatement after three
years Provisions regarding Policy not being called into question in terms of Section 45 of the
Insurance Act, 1938, as amended by Insurance Laws (Amendment) Act, 2015 are:
o
a.

b.

c.

d.

o
a.

b.

c.

d.

o
a.

b.

c.

d.

o
o
o
o
o
o
For Unit Linked Life Insurance Products, the following disclaimers are additionally
applicable:
 IN THIS POLICY, THE INVESTMENT RISK IN AN INVESTMENT PORTFOLIO IS
BORNE BY THE POLICY HOLDER.
 
 Unit Linked Insurance products are different from traditional Life Insurance products and
are subject to risk factors.
 
 Premiums paid in Unit-Linked Life Insurance policies are subject to Investment risks
associated with capital markets & the NAVs of the units may go up or down based on the
performance of fund and factors influencing the capital market and the insured is
responsible for his/her decisions.

Disclaimer: For complete disclaimers please click here, before concluding the sale.

 Registered with Insurance Regulatory & Development Authority of India (IRDAI) under
the following Address and Registration Number: Tata AIA Life Insurance Company Ltd.
(IRDAI Regn. No. 110) Issued On: 12th February 2001 Category: Life Insurance
 Registered & Corporate Office Address: 14th Floor, Tower A, Peninsula Business Park,
Senapati Bapat Marg, Lower Parel, Mumbai 400013.
 Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company,
formed by Tata Sons and AIA Group Limited (AIA). CIN: U66010MH2000PLC128403
 Trade logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by
Tata AIA Life Insurance Company Ltd under a license.
 For any information including cancellation, claims and complaints, please contact our
Insurance Advisor / Intermediary or visit Tata AIA Life€™s nearest branch office or call
1-860-266-9966 (local charges apply) or write to us at customercare@tataaia.com. Visit
us at: www.tataaia.com or SMS 'Life’ to 58888.

Copyright © 2015 - 2016, Tata AIA Life Insurance Company Ltd.

All Rights Reserved.

Tata AIA Life Insurance Sam Poorna Raksha (Non-Linked, Non-Participating,

Individual Life Insurance Pure Risk Premium Product) (UIN: 110N129V04)

 In case of any query, service request or cancellation post issuance of this policy, you
can reach us at 1860-266-9966 or email id customercare@tataaia.com.
 Insurance cover is available under this product.
 You will be contacted by the Tata AIA for this application.
 This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan
is not a guaranteed issuance plan, and it will be subject to Company’s
underwriting and acceptance.
 Where the life assured is a female, the premium would be set back by 3 years of
male premium rate, i.e., premiums for female’s lives would be calculated
using an age three years younger than male lives.
 Income Tax benefits would be available as per the prevailing income tax laws,
subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to
change from time to time. Tata AIA Life Insurance Company Ltd. does not assume
responsibility on tax implication mentioned anywhere in this document. Please
consult your own tax consultant to know the tax benefits available to you.
 For more details on risk factors, terms and conditions please read sales brochure
carefully before concluding a sale.
 All Premiums, Charges, and interest payable under the policy are exclusive of
applicable taxes, duties, surcharge, cesses, or levies which will be entirely borne/paid
by the Policyholder, in addition to the payment of such Premium, charges or
interest. Tata AIA Life shall have the right to claim, deduct, adjust, recover the
amount of any applicable tax or imposition, levied by any statutory or
administrative body, from the benefits payable under the Policy.
 Kindly refer the sales illustration for the exact premium.
 Under free look period option, if you are not satisfied with the terms & conditions of
the policy then you have the right to cancel the policy within 30 days from the
receipt of the policy document. Your refund amount will be governed by the terms
& conditions of the policy.
 Because of refund before the issuance of the Policy, the refund of any amount will be
made in the same account/ instrument from where the prospect makes the payment.
Post issuance of the policy, any payment due to the policyholder shall be remitted as
per terms & condition of the policy. For any further queries, you can contact Us at
1860-266-9966 or email id customercare@tataaia.com.
 User Guide
 Anti-Fraud Framework

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

IRDAI is not involved in activities like selling insurance policies, announcing bonus or
investment of premiums.
Public receiving such phone calls are requested to lodge a police complaint.

 Citibank N.A. (IRDAI Registration No: CA0086) is the Corporate Agent of Tata AIA
Life Insurance Company Limited and does not underwrite the risk or act as an insurer.
Registered office address: Citibank NA, First International Financial Centre, Plot No C
54, 55, Block G, Bandra Kurla Complex-Bandra East, Mumbai, Maharashtra –
400051. Participation by the bank’s clients in the Insurance products is purely on
a voluntary basis. The contract of Insurance is between Tata AIA Life and the Insured and
not between Citibank N.A. and the Insured.
 Tata AIA Life Insurance Company Limited (IRDAI Regn. No.110 • CIN:
U66010MH2000PLC128403). Registered & Corporate Office: 14th Floor, Tower A,
Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013. Trade
logo displayed above belongs to Tata Sons Ltd and AIA Group Ltd. and is used by Tata
AIA Life Insurance Company Ltd under a license. For any information including
cancellation, claims and complaints, please contact our Insurance Advisor / Intermediary
or visit Tata AIA Life’s nearest branch office or call 1-860-266-9966 (local
 charges apply) or write to us at customercare@tataaia.com. Visit us
at: www.tataaia.com or SMS 'LIFE’ to 58888.

Copyrights © 2018 - 2019, TATA AIA Life Insurance Company Ltd.

 Know your Rights and Duties.

As a smart consumer, you should be aware of your duties and rights about your policy
coverage and claims.
 
Duties:

When you buy a policy:

 Fill the proposal form yourself correctly and truthfully, it is the basis of the insurance
contract.
 Do not leave any column blank, do not sign a blank proposal form.
 You will be responsible for any information in this document as it bears your
signature. Disclose “all material information” about the risk you want to cover.
 Select the term of the policy as per your needs.
 Select the amount of premium you can afford to pay.
 Choose between Single Premium or Regular Premium
 Choose your premium paying frequency such as annual, half-yearly, quarterly, or
monthly.
 opt for electronic payment of your premium (ECS) for your convenience, safety, and
records.
 Ensure to register nomination under your policy. Fill the nominee’s name correctly.
 Ensure that your communication details mentioned in the proposal/other forms are
correct, in case of changes at a later stage, the same are informed to the Insurer. This
is very important as Insurers send information relating to various services such as
proposal registration, claims details, status etc. 

After you buy the policy:

 Once the proposal is submitted, you should hear from the insurance company in 15
days.
 If not, take up the matter in writing.
 If any additional documents are asked for, comply immediately.
 Once the proposal is accepted by the insurance company, the policy bond should
reach you within a reasonable amount of time.
 If not contact the insurance company about it
 When policy bond is received, check it and be sure that the policy is the one that you
wanted.
 Go through all the policy conditions and be sure that these are the same that were
explained to you by the intermediary/ insurance company official at the time of sale.
 In case of doubts, contact the intermediary/ insurance company official immediately
for clarification.
 If necessary, contact the insurance company directly.
Maintaining the policy:

 Pay your premium regularly on the due dates/ within the grace period.
 Do not wait for a premium notice. It is only a courtesy. It is your duty to pay the
premium to avoid lapsation or other penalties.
 Do not wait for your intermediary or anyone to pick your cheque up. Make your own
arrangement for paying the premium on time.
 If there is a change of address, please intimate the insurance company immediately.

Nomination:

 After the policy is issued, you can change the nomination by:
 Filling a notice of change of nomination and
 Sending them to the insurance company for them to register it in their records.
 If the nominee is a minor, appoint an appointee to receive any claim paid while the
nominee is still a minor.
 Get the appointee to sign in the endorsement showing consent to act as an appointee.

If your policy lapses:

 If you fail to pay the premium in time, your policy may lapse. Contact the insurance
company for reviving it.

If you lose your policy:

 If you lose your policy bond, report it to the insurance company immediately.
 Get a duplicate policy by complying with the formalities.
 The duplicate policy confers the same rights as the original policy bond.

At the time of a claim:

 Comply with all the requirements of the insurance company.

 Whenever required, you should help the insurer in a prosecution or for recovery of
claims which the insurer has against third parties?

Rights:

You have the right to

 Cancel a life insurance policy within 15 days from the date of receipt of the policy
document. If you disagree to any of the terms or conditions in the policy. For Health
policies the option of Free Look may be exercised provided that the term of the policy
is at; east three years.
 You can
o Return the policy stating the reasons for objection.
 o You will be entitled to a refund of the premium paid.
o A proportionate risk premium for the period on cover and the expenses
incurred by the insurer on medical examination and stamp duty charges will be
deducted.
o If it is a unit linked insurance policy (ULIP) in addition, the insurer can
repurchase the units at the price on the cancellation date.

ULIPs

 You have the right to partial withdrawal.

 You have the right to switch funds.
 You can surrender the policy after the lock-in period from the date of commencement
of the policy.
 The nominee/assignee under a life insurance policy has the right to the death claim
amount.
 You can ask for alterations in the policy such as:
o Mode of payment of premium
o Term of the policy
o Increase in sum assured and
o Premium redirection

General Advice for Life Insurance

When you decide to buy an insurance policy:

 Check if the company selling the policy is registered with IRDAI.

 Make sure you buy the policy through a genuine licensed agent or broker. Ask for an identity card or
licence.
 You can also buy policies from the company directly.
 Read the policy brochure/ prospectus carefully and get to know what the policy covers and does not
cover.
 Browser Tab#1
 https://www.policyholder.gov.in/

 https://www.tataaia.com/calculators/term-insurance-premium-
calculator/protection02.html

 https://apps.tataaia.com/CP/meet_life_Planner.jsp

 https://sellonline.tataaia.com/wps/PA_TATAAIA_SO/#!/getQuote

 https://www.youtube.com/watch?v=evoYOC0RRzQ

 https://labourlawadvisor.in/irda-insurance-annual-report/

 https://www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/gts-p-bond.pdf

 https://www.iciciprulife.com/health-insurance/health-insurance-plans.html

Browser Tab#2 Saved as Bookmark by FnO name

Browser Tab#2
 https://enps.nsdl.com/eNPS/OnlineSubscriberRegistration.html?appType=main

 https://enps.nsdl.com/eNPS/NationalPensionSystem.html

 https://www.npscra.nsdl.co.in/download/pdf/Registration_using_PAN.PDF

 https://upstox.com/mutual-funds/fund/Parag-Parikh-Conservative-Hybrid-Fund--Direct--
GR--45534
 https://upstox.com/mutual-funds/fund/Axis-Healthcare-Etf--GR--45520

 https://www.youtube.com/watch?v=Q4JlJbUl9Zw

 https://www.youtube.com/watch?v=N2NcV9GXxJ4

 https://www.youtube.com/watch?v=f5ipFIOZ0xE
 Declaration and Consent:

  I hereby declare, on my behalf and on behalf of all persons proposed to be

insured, that the above statements, answers and/or particulars given by me are true
and complete in all respects to the best of my knowledge and that I am authorized to
propose on behalf of these other persons (applicable where the proposer and life
insured are different).

  I understand that the information provided by me will form the basis of the
insurance policy, is subject to the Board approved underwriting policy of the insurer
and that the policy will come into force only after full payment of the premium
chargeable.

  I further declare that I will notify in writing any change occurring in the occupation
or general health of the life to be insured/proposer after the proposal has been
submitted but before communication of the risk acceptance by the company.

  I declare that I consent to the company seeking medical information from any
doctor or hospital who/which at any time has attended on the person to be insured/
proposer or from any past or present employer concerning anything which affects the
physical or mental health of the person to be insured/ proposer and seeking
information from any insurer to whom an application for insurance on the person to
be insured /proposer has been made for the purpose of underwriting the proposal
and/or claim settlement.

  I authorize the company to share information pertaining to my proposal including

the medical records of the insured/proposer (if any) for the sole purpose of
underwriting the proposal and/or claims settlement and with any Governmental
and/or Regulatory authority.

  I confirm that I have understood the contents of this Proposal Form and I am
submitting this Proposal Form with all the details which are true and correct. I have
not withheld any material information or suppressed any fact which are essential for
issuance of the policy. I also hereby irrevocably authorize the Company to ascertain
all the details from any third parties, as may be required for assessing the risk.

  I agree to undergo all medical tests as determined by the Company for obtaining
the policy and I further understand that the Company reserves the right to issue the
policy if all the required criteria are met and in case of any fraud or misrepresentation
being established, the insurer shall take action in accordance with Section 45 of the
Insurance Act, 1938 as amended time to time.

  I understand that the contract will be governed by the provisions of the Insurance
Act, 1938 as amended time to time, the IRDA Act, 1999 and the Regulations framed
there under and that the contract will not commence until the Company's written
acceptance of this Proposal Form is received. In case of the life to be insured being
a minor, I further declare and affirm that this proposal of insurance is for the benefit
of the life to be insured.
  Anti-Money Laundering Declaration : I hereby confirm that all premiums will
be paid from bonafide sources and no premiums will be paid out of proceeds of
crime related to any of the offence listed in Prevention of Money Laundering Act,
2002. The Company has the right to peruse my financial profile and also agree that
the Company has right to cancel the insurance contract in case I have been found
guilty of any of the provisions of any law, directly or indirectly, having relation to the
laws governing prevention of money laundering in the country, by any competent
court of law.

  I/We understand that in accordance with the IRDAI (Protection of Policyholders’

Interests) Regulations, 2017, the insurer is permitted to share policyholder
information only with the statutory authorities. I permit/authorize the Company to
collect, store, communicate and process information relating to the Policy/Account
and all transactions therein, by the Company and any of its affiliates or service
providers wherever situated including sharing, transfer and disclosure between them
or with any entity or entities for the purpose of underwriting, policyholder servicing
and claims; and to the authorities in and/or outside India for compliance with any law
or regulation whether domestic or foreign.