[Resolved]  India Infoline Limited — ICICI Prudential Life Stage Assure

Insurance agents are ignorant ...sometimes they themselves dont know how it works and sometimes it is complete misinformation...the agent who sells the above polixcy gets about 5-6k as commission ...there are a lot of hidden charges so people be warned ulips are a waste ...one can go for elss mutual funds whose charges are relatively less compared to ulips...i work in financial services area it is complete rip off!!!

It has become a common practise of all sales people in such financial services such as MF, ULIPS, Insurances, etc.

The best part is that in India it is the rule of the Jungle..There is no govt. action on such matters, although the govt. must be spending lavishly the tax-payers money on such agencies. But you wont find them when needed.

Are these govt. people here just to get their salaries and pensions on our hard earned money.

What are Banks also doing ?? Are they not aware of such wrong practices.

Hi, I also received similar call yesterday 12/09/09 from ICICI Delhi office and they explain me the exactly same plan. I asked them to send me a mail which they refused. Any how I ignored them till next week as I was in confused state to deal with ICICI and go for this attractive plan.
Thanks for your eye opener article, why higher authorities of finance ministry not taking any action on ICICI? Everyone must have faced one or another problem with ICICI.
Thanks & Regards,
Vivek

In the year June 2006 I received a call from India Info line, Bhubaneswar Branch offering a plan in which I would get "Maximum Benefit form the ICICI Insurance Policy" CASH PLUS policy term 15 years and was explained India Info line Agent Mr. Agarwala & Mr.Aditya in details with an example. If I plan to invest Rs.50, 000/- per year in continues 5 years to be paid and liquidity one premium in next 2 or 3 years total 6 premium to be paid and get back Rs.7.5 lakh in completion of 15 policy years. Now an M/s. ICICI Prudential person has telling total 15 years premium to be paid for the Policy amount of Rs.7.5 lakh.

In the year June 2006 I received a call from India Info line, Bhubaneswar Branch offering a plan in which I would get "Maximum Benefit form the ICICI Insurance Policy" CASH PLUS policy term 15 years and was explained India Info line Agent Mr. Agarwala & Mr.Aditya in details with an example. If I plan to invest Rs.50, 000/- per year in continues 5 years to be paid and liquidity one premium in next 2 or 3 years total 6 premium to be paid and get back Rs.7.5 lakh in completion of 15 policy years. In june-2006 a cxheque Rs.50, 000/- handed over to the Mr. Aditya Agent of India Infolie and clearance of the cheque was in the June-2006 but policy staring from September 2006, the Agent (Indian Infoline not responded to any quary from me.Now an M/s. ICICI Prudential person has telling total 15 years premium to be paid for the Policy amount of Rs.7.5 lakh.

LIFE STAGE ASSURED from ICICI prudentials — ICICI Prudentials is trying cheat me

To
The Managing Director & CEO
ICICI Prudential Life Insurance Company Ltd.
Reg. Off.: ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025.
Dear Sir,
You have collected a sum of Rs.24,000/- (Rupees twenty four thousand only) vide cheque No. 843339 dated 02.11.2009 on Punjab National Bank for LIFE STAGE ASSURED policy in my name. You have informed me on 20.11.2009 that my proposal was declined and immediately on 20.11.2009 I sent a mail to you vide Call ID # 20342136 to refund the amount immediately. But I regret to inform you that inspite of repeated requests , you have failed to refund a sum of Rs, 24,000/- (Rupees twenty four thousand only). collected by you. Since I did not receive appropriate reply from you, I have visited your office at Vijayanagar near Maruthi Mandira on 25.11.2009 and the officials incharge there informed me that my claim for refund of Rs. 24,000/- has already been registered on 20.11.2009 and they further assured me that the amount of Rs. 24,000/- shall be refunded before 30th of this month.
But to my utter shock and surprise to know from your mail on 26.11.2009 stating that refund is on hold for no reason to justify the same. I am not a fool to transfer the policy to some one else and I don’t want to transfer the policy to any one. It is a very clear evidence to show that you are trying to cheat me.
Please refund the amount of Rs. 24,000/- as claimed by me without any further delay.
Acharya Ramdas
Advocate
Proposer's date of birth Acharya Ramdas 04.12.1951
Premium Amount Rs. 24,000/-
Registered mobile number [protected]
Registered Address No.540, 8thMain, Vijayanagar, Bangalore 560 040

My case is different. I received a call from ICICI infoline branch at Tuticorin that my name has been selected randomly for an award of ICICI life insurance of Rs.1, 00, 000/-. So far I have received 2 calls and I have asked them to mail me the details. Further, they also informed that 50 such people have been selected for the reward. What kind of fraud is this going to be? Anyone having received such calls?????

This is true even i m receiving the similar calls in different times, claiming to be from ICICI branch offices, that my name/number has been selected in the lucky scheme. As per it, if I choose to invest a premium of Rs.30, 000/- per annum for minimum of 3 years & withdraw from the plan then i will be getting Rs.2, 56, 000/- on the invested amount of Rs90, 000 by the end of 3years. In addition, they will give me the loyalty bonus on 1st year premium of the amount of 10% & also Life insurance benefits. Such plans are greedy enough to get into a honey trap, as if you demand any such information or inquire from the ICIC offices, they simply deny. Please be aware!!! - RKN-AIS

Hi,
I received a call from from Icici prudential saying that they will give me an payout of 125% of the premium paid plus the bonus announced by the company for the financial year, but for that i have to do another GSIP policy of the same premium amount. Since my existing policy was a marked linked policy so i opted for the payout. Then an agent from India Infoline visited my place and took all the documents and cancelled check for the payout and a fresh check for the new policy. i was called from Infoline repeatedly asking me not to reveal that the new policy was against a payout and i followed their words. Then the new policy papers came by post, but i didnt receive any amount guaranted by them as a pay out to the first policy. Now they are avoiding my call. I have been cheated and they did a fraud to make me do a new policy.

I want to take legal action against them. Please suggest how can i proceeed against the harrassment and the fraud. i have all the names and the numbers provided by them.----A.Ray Chakrabarty.

I would like to add that the agent who visited me was Mr. Anirudhha Mukherjee and the people who had called me from Infoline Kolkata office was Ms. Neha Chowdhry and later Ms. Anamika. I want to take proper action against my harrassment and fraud.----A. Ray Chakrabarty