[Resolved]  ICICI Prudential Life Insurance — Cheated by ICICI Prudential life insurance agent

Address:

Kolkata, West Bengal

Dear Sir/Ma’am, I am Parama Dasgupta, owner of policy no. 16545718. I had taken this policy from ICICI securities on the 30th of March 2012. A PR professional by profession. I had contacted Ms Antara Chakraboty at the Garia branch of ICICI Prudential. I had asked her to guide me through a one time or a short term investment. This lady visited us and pitched for this policy which she claimed to be a short term policy. I was told this policy will take 3 premiums and the first premium of Rs 30, 000 as a joining amount (which I now find was absolutely unnecessary ) and I can withdraw the money after 5 years. To my surprise when the welcome kit arrived I realised it’s not really a short term one. On the pamphlet it said I’ll have to pay 7 premiums and I can reap the benefits only after 8 years from the last premium paid. I immediately called up this lady and asked her to meet us and sort this out. But she visited us after a month, all the while downplaying the 15 days withdrawal time limit. Then when she did visit me she insisted it indeed is a short term policy & that, I’ll have to pay three premiums & I’ll be able to reap the benefits after 5 years. That the kit mentions the Maximum time to keep the policy holder invested. That she will “take care of it all” and I can reap the benefits after 5 years if I want, or stay invested for 15 years. But when I contacted her again after being informed by my journalist friends that not all agents of ICICI Prudential are always right I realised that she is not being honest or there is some kind of miscommunication happening and that I should sort it out before I pay the premium, this lady again insisted if I don’t pay the first premium my joining amount, which need not be paid in the first place, will be completely forfeited.(I am now being told by the ICICI official that no matter what the signing amount if paid is never forfeited) She suggested I pay the first premium and then email ICICI Prudential at the helpline id. I had my doubts so I mailed the helpline before paying the first premium to which I received an acknowledgement mail but no reply. Upon constant insisting from Antara I paid the premium and mailed ICICI again.(I now am being informed by the ICICI official that the payment of first premium should have been withheld by me as paying the same confirmed my approval. Which means here again Antara tricked me into paying the first premium and thereby getting trapped) This time I received an answer but it was only about the end result but I found no instructions of how to go about the situation and how to discontinue the premium. Ever since I have been trying desperately to reach Ms Antara who seem to have disappeared from the face of Earth. Even the branch does no longer exist. (The branch that was previously ICICI Prudential is now ICICI Direct with completely new staff which seems reluctant to help with anything other than “ICICI Direct” issues) I have been trying desperately to find out how I can put an end to this misguided confusion and to let ICICI Prudential know how their agent is cheating their customers, but I have not been able to find any way whatsoever. This is now my last and only hope to be heard. I have had to move back to Kolkata due to some family problem and have not been able to find a job here. It is therefore impossible for me to commit to such an investment at this stage. And also, somewhere down the line my trust on ICICI Prudential is completely shattered. I do not wish to continue with this investment anymore. I can only request you to find or suggest a way to sort this out a way to discontinue this policy and return my money that I have already invested. I have even filled an official grievance at their main branch in Kolkata (Reference no.[protected] WHICH HAS BEEN PROMPTLY DECLINED on the basis of the very same reasons that I complained about. I am now tired and helpless of this complete failure and obnoxious cheating from ICICI securities and the way they have been handling the situation and customer grievance and am forced to knock on your door to find justice. One can only hope and pray for a fast justice. Eagerly waiting for a positive reply. Regards Parama Dasgupta [protected] Email: d.[protected]@gmail.com