[Resolved]  ICICI Lombard Home Insurance — Worst Customer Service

Address:

Bhopal, Madhya Pradesh

I have taken house loan from ICICI bank in 2010 in joint application with my mother, for which they said you have to taken insurance also on home loan, which I took. After 3 years they said, you have to take insurance in name of your mother also. They said 500 per month will be deducted from your account for the tenure of loan and insurance will also be for the same period. I agree to it. Then I did not received policy papers for 2 months and Rs.500 started deducting from my account. I chased them to send me policy papers & they mailed the same to me. I was shocked to see that tenure of policy was only 5 years, while they will deduct 6000 p.a. from my account for 20 years. This insurance premium is too high for cover of Rs.15 lacs only, & they sold me policy on false terms. So, I write to them regarding cancellation of policy, clearing mentioning the policy number & instead of cancelling that policy they have cancelled the policy which I took in 2010, which I have never mentioned them to cancel. I am chasing them from last two months, but they are not resolving the issue. I have copies of all the correspondence & can prove the fraud done by them. The bank is harassing customers & is total fraud. Never take any loan or insurance from them.