[Resolved]  ICICI Pru Smart Kid Plan — Felt cheated by ICICI & their executives

Address:

Bangalore, Karnataka

Completely Cheated & misleaded by ICICI Pru life insurance. Dealt with one Mr. Somshekhar in Bangalore. Took a Smart Kid plan 3 yrs back. Wanted to discontinue it after reading their reviews... coz don’t knw wht will be the fund value after 18 yrs. After 3 yrs of investing @ Rs. 5K every month i.e. Rs.1.8 lakhs, whn I went to surrender the policy (though they again tried to convince me its a bad decision), the fund value as on 19th nov 2012 was Rs.1,52,000. No reasons provided. Everythin is in verbal. There was a penalty of 4% on the fund value too in addition to that. Thus the final amount to be refunded to me stands at Rs.1,46,000 as told by Somshekhar & his accomplice. But after a week, the money that was transferred to my account is Rs.1,41,000.
After constant calls, it took them 2 days for somshekhar to cook a new story tht the person who was at the system surrendering the policy, had assumed the fund would have been Rs.5,000 more the next day and the amount Rs.1,52,000 was an assumption.
BEWARE. Nothing was given to me in writing. Don’t know even the fund value disclosed to me was actually true or not.
Mr. Somshekar pretended to be customer friendly. But finally he & his organisation showed their true colours.