[Resolved]  ICICI Prudential Life Insurance Company — NON RECEIPT OF SURRENDER VALUE OF MY INSURANCE POLICY

Address:

Pilibhit, Uttar Pradesh

BELOW IS IN DETAILS , THE COPY OF COMPLAINT I MADE INSURANCE OMBUDSMAN




SHRI M.S PRATAP DATED ; 19.5.2011
Insurance Ombudsman,
Office of the Insurance Ombudsman,
Jeevan Bhawan, Phase-2,
6 th Floor, Nawal Kishore Road,
Hazaratganj,
LUCKNOW-226 001.
Fax :[protected] , Email [protected]@rediffmail.com

Dear sir,

RE: COMPLAINT OF ICICI PRUDENTIAL LIFE INSURANCE FOR NOT SURRENDERING MY INSURANCE POLICY

In connection to the subject I would like to inform you that I had a Insurance Policy No. 02587370 with ICICI Prudential Life Insurance , dated 24.March 2006 to which I had paid for 05 (Five years) having annual premium of Rs.20,000=00.



That for some reasons I had applied for surrender of my said policy and handed all my necessary documents as desired by them to Mr. Ahsan Abbas at their Pilibhit (U.P.) Branch on 27.4.2011 whose acknowledgement is enclosed herewith for your ready reference .



That even after 23 days I had not received my surrender value amount . Further to which I had given them a Registered Post notice on dated 13.5.2011 (copy of Notice as well as registery receipt enclosed herewith)


But to all I am very sorry to state that I had not received my surrender value , instead their some executive (namely Girish as said by him) called me on my mobile no. : [protected] through their number[protected] on 19.5.2011 at 12:55 pm stating initially to refuse to surrender my policy to which when I argued them they said they will give me the fund value of my Policy of current date and not of 27.4.2011 on which I applied for the surrender , Sir over here I would like to state that the fund value of the said policy on 27.4.2011 was aprox Rs.1,21,000=00 and now they are offering me Rs.1,13,000=00 as current fund value , which is to injustice and wrong and they are just threading me to accept this or they said they wont pay me a single penny , and said do whatsoever you wish to do , to which I replied that I would take this matter with Ombudsman , IRDA & local consumer courts to save my interest , to which they said they are not afraid of this and we wont pay your surrender value , they had taken even the Original Policy Bond , My Passport's copy , My pan card's copy as well as a cancelled cheque .










I had completed their all formalities which is also marked in the acknowledgement copy attached .But still Iam not getting my hard earned money back .


Sir , seeing to this and in spite of my many turnups in their Pilibhit branch , I found not only me but many customers are being made fooled & cheated by them .


Seeing to this I strongly believe & strongly recommend that ICICI Prudential life Insurance should not have even been awarded for Insurance License and their License should be withdrawn back and government should interfere in between to get their citizens hard earned money back .




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Sir , I humbly beg to you to help me get justice and my heard earned money back & that too with NAV/ Fund value of My Policy as of 27.4.2011 which was Rs.1,21,000=00 aprox along with due Interest thereof and cost of damages & cost for my mental pressure/strain they had given me , moreover they had wasted my energy & time which could have generated some positive results for as well as for the development of my country .



Sir , your strong interference is immediately required otherwise they will keep on cheating the innocent citizen of our country .


HOPE FOR A JUSTICE FROM YOUR SIDE .
A COMMON & TRUE COUNTRYMAN OF INDIA



(MANMEET CHHABRA)
S/O SHRI MANMOHAN SINGH CHHABRA
R/O; 81,82 ASHOK COLONY
BYE PASS ROAD , PILIBHIT (U.P.) 262001
PHONE :[protected]O) ,[protected]fax)
MOBILE :[protected] &[protected]
EMAIL : [protected]@yahoo.co.in

c.c.: Mr. T.Vankateswara Rao , Deputy Director , IRDA ,Consumer Affairs Department , Hyderabad
C.C. : THE BRANCH MANAGER , ICICI PRUDENTIAL LIFE INSURANCE COMPANY , PILIBHIT
c.c.: Ms. Chanda D. Kochar , Chairperson , Icici Prudential Life Insurance Company , Mumbai