[Resolved] ICICI Prudential Lifetime Super Pension — Misled ICICI staff | |
Dear Sir, As per the ICICI bank staff, my father opened an Super Pension scheme on behalf of me. ICICI staff misled quoted and never mentioned the proper terms & conditions such as initial charges, every year charges and other terms and conditions.. ICICI staff misled my father by stating that this will be doubled in 3 years and it's a life long super pension scheme with no fine prints. I heard lot of complaints about it when I was abroad and decided not to invest in it further in the second year after hearing horror stories and I wasn't able to do anything as I was located abroad. I was able to review this only after one year and half duing my vacation in Dec 2009 and got shocked after reading terms and conditions which was never went through by ICICI staff or supplied to us to read about it before even we opened the account. I think ICICI bank should be sued for misleading customers without providing proper and accurate information. They should thoroughly make understand the customers, such as my father, who opened this account for me by misled quote by the ICICI staff. I would like to understand if I can get my premium back from them. Thanks, Padmanabhan Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 4 Comments | |
Comments
I agree Padmanaban's comment. I went India in a vacation from abroad. I looked forward for a good investment. The general feedback I got is ICICI has very good customer support and many branches easy to access around Tamil Nadu. Hence I contacted ICICI (CBE). I was introduced to one of the nearest Bank Manager.
The Bank manager and the staff interacted me so nicely, even came to my home. I was in hurry to complete lots of planned work within my short vacation period. Somehow impressed by the way the managers talked. I took three policies for all my family members. Now I feel very sorry on me being cheated.
The way the Manger explained me the policy and the documents I received was totally different. I came to know more detail when I received confirmation documents after I enrolled. In fact I asked earlier for such document, but I was given a brochure but not the terms and conditions as described.
Now I am locked. I lost complete confident on this Bank and that Manager. I immediately transfered my a/c and other financial transaction from ICICI to nationalized banks. Now I have only one account which I will change once I go back to India.
Anyone like me, please go through all the details in detail, enquire more with your friends and other relevant information. Do not just trust what they say with us. As a private bank they are trained to have good communication and interaction with customer, which is being misused by some of them like the manager I met.
The Bank manager and the staff interacted me so nicely, even came to my home. I was in hurry to complete lots of planned work within my short vacation period. Somehow impressed by the way the managers talked. I took three policies for all my family members. Now I feel very sorry on me being cheated.
The way the Manger explained me the policy and the documents I received was totally different. I came to know more detail when I received confirmation documents after I enrolled. In fact I asked earlier for such document, but I was given a brochure but not the terms and conditions as described.
Now I am locked. I lost complete confident on this Bank and that Manager. I immediately transfered my a/c and other financial transaction from ICICI to nationalized banks. Now I have only one account which I will change once I go back to India.
Anyone like me, please go through all the details in detail, enquire more with your friends and other relevant information. Do not just trust what they say with us. As a private bank they are trained to have good communication and interaction with customer, which is being misused by some of them like the manager I met.
He explained me the insurance product as an investment product. He was not disclosing the charges therefore I didn't invested.
I think, the regulatory body IRDA should strictly check this false selling of insurance products in the interst of common people and ban these type of companies which are misguiding the people.
Sunil, New Delhi