ICICI Prudential Life Insurance — Closing Policies without consulting the Customer

Address:

Pathanamthitta, Kerala, 689105

I have joined for pension scheme policy in 2009. Yesterday I received a message on my mobile saying that your policy is closed and a cheque is sent to you by speed post. The company should have the courtsey to check with the customer whether they want the cheque now or not because I joined for the pension scheme. When I consulted the ICICI customer service, they say you have made only one time premium, hence they closed the policy. In the policy agreement nowhere it is mentioned the minium number of installments to be paid to continue the policy for pension. Also as I paid the amount thru NRI cheque 6 years back for repatriating the amount to NRI account. Now they are asking me to find the details of the cheque submitted for repatriation. Is it not the responsibility of the company to keep the required payment information when they opened the investment ?. Also they have not informed the customer to keep the details for closure. After 5-6 years it is very difficult to trace back the details. And they harrase the customer for getting the details other wise they will dump a savings bank cheque to the customer. ICICI prudential invested my money and made profit and they are charging TDS on the customer who is already on utter loss, they did not having the invested fund after 6 years. On top of this TDS is charged irrespective of NRE or local cheques. In short the company is cheating the customer by giving false promises and big show off. The company is literally having party on behalf of our hard earned money. The officials has to see this cheating and take very strong action on such cheaters, happening within India. I request you to take necessary investigation in such cases. I am just a person among thousands of other indians who is getting cheated by ICICI. Suggested actions: 1. Declare an investigation on the above case 2. Penalize the company for wrong procedures and cheating 3. Refund all the cheated money with penalities.