ICICI Securities Ltd — Lies told by Manager

Address:

Thane, Maharashtra

I retired in July 2010 & approached Mr Deepak Dudani (Now Branch Manager Retail)of ICICI Securities Ltd, Talaopali, Thane office.
He & Mrs Sandhiya together narrated benefits & other features of ICICI PRU LIFE policy.Accordingly,I took 2 policies 1)policy no 14545046 , premium Rs 50000, &[protected], premium Rs 50000, I paid premiums in 2010& 2011 .In August 2012, I approached Mr Dudani for advise as I found Dynamic PE fund related to these policies was performing badly.
Mr Dudani repeated his words of 2010 : If you STOP premiums ,your Insurance cover still REMAINS ! It was confirmed by Mrs Sandhiya (in 2010). I was not convinced,Mr Dudani advised me invest same money in new policy which gives 110% guaranteed returns.
I visited Mr Shridhar at ICICI PRU LIFE INS CO at Majiwada, Thane on[protected]. He showed me clauses in the policy stating Insurance cover stops when premium is not paid. He advised it will be huge loss if I stop premium payment in current policies & take new policies.
I am a Banker & trusted Mr Dudani as he seems to be knowledgeable Finance Professional. I am shocked he could cheat me !

I understand he got quick promotions based on such lies ?

Please initiate appropriate Disciplinary Action against Mr Dudani & Mrs Sandhiya for telling lies .

Yours faithfully,

Vinayak Govitrikar