[Resolved]  ICICI Prudential Insurance Policy — Forcing customers to buy policy with false information

Hi, I would like update everyone (So others are aware) about the pain that i went through with ICICI prudential policies and the bank executives. Last year when i tried to open an account in ICICI bank acount, i was informed that they no longer allow to open a bank account, due to large volume of accounts that they have. But they provided an option that they can open a bank account, only when i opened a ICICI prudential policy. So i ended up opening a policy for 1.5 lakhs, where i dont have to pay premium until maturity. After few months, i went to open a locker and this time, they mentioned that i need to open another policy for 50000 where i need to pay premium every year for another 10 years. So again i ended up opening a new one. After viewing the performance for a year, i decided to close both these policies. When i tried to close the policies, i was told that i cannot close for 5 years due to lockin period. This is the first time they told me about this. They told me to look into the policy documents and it is already mentioned there. I feel that icici customer executives are literally cheating customers on this. Issues: ===== 1) ICICI is forcing customers to open insurance policies. 2) Terms are not openly discussed to the customers. 3) Too many hasles when you try to close the policy