[Resolved]  ICICI Prudential Life Insurance — Delay in payment of surrender value of policy

Address:

Maharashtra

To,
M/s ICICI Prudential Life Insurance Co. Ltd.,
Vinod Silk Mills Compound,
Chakravarthy Ashok Road,
Ashok Nagar, Kandivali (E),
Mumbai 400 101

Please refer to my earlier e-mail lodging a complaint of inordinate delay.

I have surrendered my lifetime super policy (No.[protected] at your Nashik City branch on 21-April-2010 in the noon and received acknowledgment, with assurance that the money i.e. amount of surrender value after deduction will be credited to the bank account specified.

I also received sms alerts from your company confirming the receipt of surrender application.

However, even after a lapse of six days' period, the money was not deposited/credited to my axis bank account. This delay being inordinate and unwarranted, I contacted your customer service executive on the phone number provided though your telephonic response system. On verifying my name, DOB, etc. he informed me that the direct credit details are not being reflected in the surrender request forwarded by the branch (Nashik) and, that for this reason it is a discrepancy.

I humbly requested for explaining as to how there could be a discrepancy once I have given my correct bank account details along-with a canceled cheque as required by the branch?

AND, moreover, in case of any such matters cropping up, is it not the company's responsibility to have the details obtained from me OR to at least inform me the policy holder about it?

Now you are adding insult to the injury by delaying the payment of surrender value. It is my own invested money which I am so being deprived of. It is unfair and unjust on the company's part.

I demand an immediate credit to my bank account. I urge you to kindly expedite the payment.

Bhalchandra M Dhanawde
[protected]