ICICI Prudential Insurance — difference of NAV as against full payment

Address:

Delhi

ATTN: M/S. Insurance Ombudsman,
Office of the Insurance Ombudsman,
2/2 A, Universal Insurance Bldg.,
Asaf Ali Road, NEW DELHI-110 002.

I would like to bring to your notice the following issue for immediate resolution:

I have released two cheques for Rs.50,000/- and Rs.1,00,000/- towards first premium under proposed new policies.

ICICI PRUDENTIAL LIFE INSURANCE realized the payment for both my policy nos: 15079428 and 15079951 on 08th February'11 and NAV shall be applicable accordingly from the same day along risk coverage applicable

If the risk coverage date is booked by ICICI PRUDENTIAL very late other than 10th Feb’11, it’s not customer problem who invested with some faith. Because of this late booking of risk covering date, I lost some units for no fault of mine on policy no: 15079951 due to variation in NAV.

As customer, I never advised to book NAV with different dates and its purely ICICI PRUDENTIAL decision which is against the interest of the customer.

Please note, when I was constantly approached and requested by ICICI Prudential bank to take policy, I was told the NAV shall be made applicable on the date of payment and from the date of realization.

In view of this please ensure the NAV shall be applicable for both policies from 08th February’11 which is the date of payment realization.

If it is not so, I have no faith in ICICI INSURANCE and suggest refunding my full money of policy no: 15079951 in good sense.

I have been requesting ICICI customer service to resolve the issue, regret no positive reply. Hope you will resolve the issue immediately.

Regards,


K. Ravi Sankar
T[protected] M- +91-[protected]
E- ravishankar.[protected]@jindalsteel.com