[Resolved]  ICICI Prudential — FRAUDULENT SCAM

Unfair trade practices played by Major Insurance Company, ICICI Prudential

How ICICI Prudential cheat the people systematically and rob the money from innocent customers through their clever and cunning methods

Please do not take investment or any such policy from this company.
ICICI Prudential is running professional fraudulent scams cheating innocent people, robbing their money by their planned, cunning and heinous activities.
They lure people by attractive offers that too approached by your own relatives and friends so called Advisors who are out-sourced by ICICI Prudential.
These advisors themselves do not know the details of such investment policies. They do the canvassing just to get their salary or commission which ICICI Prudential pay them for this FRAUD


You will be made to believe falsely that this is purely an investment scheme and you will be guaranteed for the money you invest would be doubled within five years by the Advisors and the local area Managers
Advisor would himself guarantee the amount getting doubled within five years and he would even call the local area Manager who is well trained to be a part of this fraudulent scam and to cheat the client by confirming him the same as Advisor said The details & facts of the actual policy will not be shown to you till it becomes late for you to get the refund.
The policy is written in such a professional cunning manner that you would not get any single rupee from the money you invested.
The entire money would be lost.

You will be attracted by such false guarantees by the area managers and the advisors that your money would be doubled at the end of 5 years
if you pay lump sum amount for three consecutive years (For example Rs 2 lakhs in 2007+ Rs 2 Lakhs in 2008 + Rs 2 Lakhs in 2009). You would be made to believe that this is totally an INVESTMENT DEPOSIT SCHEME similar to any bank fixed deposit or like INDIRA VIKAS PATHRA and ICICI Prudential is marketting this under the cover of some false name including free insurance policy etc. etc. You will be made to believe that ICICI Prudential guarantees 100% the money doubling in 5 years

When you pay the first installment of such a huge amount that is it.
You will lose that money completely. 25% of that money would be deducted from your amount as premium allocation charges, then they deduct as per their will, mortality charges, policy administration charges, service charges etc.Then the balance amount they would invest in some useless untold sinking funds all at the client’s risk. Then by the time you realize this, it would be too late to recover the money.

All your money would be totally taken up by ICICI Prudential

Advisors or the Local Area Manager would never tell the facts that 25% of the money you invest at the first instance would be taken as some PREMIUM ALLOCATION CHARGES. If you pay Rs 10 lakhs, they would take straightaway Rs 2.5 lakhs as such charges. They also would not tell the fact that the balance amount would be invested in some fancy funds - market funds they call - totally at client's risk Giving nice fancy names like MULITIPLIER, RICH, OPTIMISER, LIFESTAGE etc etc. just to attract you. You would never come to know of these until very late when you realise that you are trapped by these people. Then you will find these such different fund names and you would never know what these funds are and which companies they invest. All BOGUS Not only that, they deduct again SERVICE CHARGES, MORTALITY CHARGES, POLICY ADMINISTRATION CHARGES etc. from the balance amount and further reduce your available amount to the least possible amount

These cunning people make the clients to cancel this policy once thety realise that this is a FRAUD. By the time it would become too late. There are professional cunning people in ICICI Prudential trained for answering the clients queries and e-mails. They are all MANAGERS called Customer Relations managers. They switch over time to time and change by shift in answering and replying the clients to fool them They have their standard replies to the customers - well planned and systematically executed by the company.

The standard replies from ICICI Prudential would be: (all well preplanned for such frauds)
" We wish to inform on investigating the case with the relevant department, we are unable to comply with your request for policy cancellation"
" Further, we wish to inform you that every customer is entitled for a free-look period of 15 days from the date of receipt of the policy document, etc.etc."


Everyone in ICICI Prudential is a Manager. There is no level junior to Manager. There are some Process Leaders who act as though they are the bosses for the Managers. These people are well designated to do this crime of cheating people and doing FRAUD and cheating Indians in a professional way.

This is a very well planned professional way used by ICICI Prudential in cheating innocent people including NRIs and making money. A client would never get his money back. He would lose the entire amount he invested in the first year. ICICI Prudential knows that The client would not normally invest further similar amounts in the second year and the third year to lose still higher amounts. This also well planned and anticipated by ICICI Prudential and to cover this they have writtem in the policy rules " No surrender value if policy called at the end of first year or second year or third year" and thereby rob all your money

This has to be brought into light and this FRAUDULENT SCAM should be exposed to all people and to Indian Government and proper disciplinary action should be taken against this company.