[Resolved]  ICICI Investment Shield — Bad fund allocation with damage control

Address:

Andhra Pradesh

Hi All,

I bought investmentshield cashback policy from ICICIpru life with a Rs 5000 premium per month. Since last 40 months I have paid Rs. 2,00,000 in premium but my funds were performed really badly and my net fund value showed only Rs. 1,40,000. Which means a loss of Rs. 60,000 in 3 years.

I come to know that my assets were very poorly and carelessly allocated to start with( 100% debt and 0% equity). Even though the optimized asset allocation tool kept on alerting that assets must be properly allocated, nothing was done about it. As, for some strange reasons, ICICIinvest sheild doesn't allow the asset switch to correct for the mistakes !! To add to worries, the fund advisor of icici ( could be very well any roadside agent) doesn't have any contact details. How it could be ?? Customer care doesn't know anything, of course.

Now, the loss of my hard earned money and no option to salvage or minimize my losses is very painful and traumatic.

Any advice or action against such traps by ICICI to rob consumers of their hard earned money would be really appreciated and helpful.

Regards,
Vishal