[Resolved]  ICICI Lombard Health Insurance Premium — PREMIUM WRONGLY CHARGED

From Date: June 9, 2008
Arvind Waze
Nerul, Navi Mumbai


To ICICI Bank,
Credit card Division,
Mumbai
Dear Sir,
Reg: Rs. 24261/- charged to my Credit Card

This refers to SMS message sent by you on 04/06/2008 at 19.05 PM (on my mobile no. [protected]) regarding above transaction on account of my Credit Card no. [protected]. In this respect I wish to inform you that no such transaction is authorized by me. I demand immediate reversal of the amount wrongfully charged to my Credit Card account. I further wish to inform you that I received a call from your representative on my mobile phone who told me on phone that he was calling from Chennai. Your representative started talking about my Credit card transactions. He informed that I was using Credit card in a decent manner & paying the dues regularly. Due to my prompt repayment record I am selected for a particular health insurance plan from ICICI Lombard Insurance. This being gift for Tamil New Year. The policy will help me in case o[censored]nforeseen medical expenses. I told him that I am Bank employee & I do get reimbursement of medical expenses from my bank as per rules, therefore I do not need this plan. He insisted that I must understand the benefits of scheme to which I agreed only as matter of courtesy . He explained the plan to me as under:
1. The policy is for Rs. 4.00 Lac for a period of two years. Rs two Lac for each year. Then he revised the statement saying that policy is for Rs. Six Lac& three Lac will be covered each year.

2. The premium amount will be Rs. 24261/-in single installment or else Rs. 1142/- as EMI for twenty four months.

3. I can claim expenses in respect of treatment @ Rs.1000/- per day for outdoor medical expenses if it is for five days or more with maximum of Rs. 17000/- The insurance amount of Rs. 3.00 Lac will remain intact for hospitalization claim during the year. This facility can be availed only once during the policy period.

4. He further informed me that if do not claim any thing during two years of policy then I will get Rs. 30000/- as unclaimed bonus (@5% of policy amount.

5. The expenditure limit on my credit card which is presently Rs.47600/- & cash limit is Rs.23800/- will be increased to Rs.150000/- for both. Out of this increased limit premium amount Rs. 24261/- will be earmarked and will be released gradually on receiving EMI amount monthly.

The premium amount will be charged only if I agree to terms & conditions of the policy for which I will be receiving information brochure shortly. He then told me that officials from Lombard insurance will call me shortly as verification call. After this I got call from Lombard insurance company who confirmed my personal details on phone & my telephonic conversation with your representative. I told them that I have agreed to see the brochure & if found satisfactory I will subscribe to the plan. I was surprised on getting the SMS about charging my card account with Rs.24261/- . I immediately called 24 hour help line number for Mumbai 28307777 & enquired about the transaction. The call centre attendant transferred my call to ICICI Lombard official. The official there informed me that whatever is explained to me as above is not true however policy document will be dispatched shortly & if terms & conditions are not up to my satisfaction the policy will be cancelled. I do not see any point in going through the policy & then demand back the amount charged to my card. I hereby refuse to accept the document & demand reversal of amount charged on my account. I will not be liable to pay any amount on such unauthorized transaction. Please note it.

A.G. Waze