[Resolved]  ICICI Prudential Life Insurance — Cheated me of getting money double

Address:	400034
Website:	www.iciciprulife.com

Hi i have accoubt in icici bank.

An agents comes to me and say why u r putting money in saving account put in ulip ur money double every year stock market is goin up.I taken four ulips.i written complain to their emal.i have bought this four policy
300669, 18426852, 18447499 and 18521782.

i got following reply

We refer to your request received by us on March 20, 2017 regarding your
ICICI Pru Wealth Builder Policy no.18300669 and IPRU Wealth Builder II
Policy no.18426852 and ICICI Pru Guaranteed Wealth Protector LP Policy
no.18447499 and IPRU Elite Life II Policy no.18521782 held with ICICI
Prudential Life Insurance Co. Ltd.



In reference to the same, we would like to state that the concern
highlighted by you have been thoroughly reviewed by us and we wish to state
that



• The policies were issued on December 21, 2013, February 12,
2014, February 22, 2014 and March 22, 2014 on the basis of the proposal for
insurance received by the Company along with the first premium deposit and
KYC documents.



• The policy document which is required to be sent to the policy
holder upon issuance was dispatched to your communication address.



• In order to ensure transparency that the product is issued as
per customer’s choice, we provide the customer with a copy of the
application/ proposal form along with the policy document. If on receipt of
the same, the policy holder is not agreeable to the terms and conditions,
he/she has the option to cancel the policy under the free-look i.e. 15 days
from the date of being in receipt of the policy document as mandated by the
Insurance Regulator and Development Authority of India (IRDAI). The same is
also mentioned in the policy document delivered to you.



• As per our records, we have not received any communication
from you regarding cancellation or alteration of your above mentioned
policies within the said free-look period, thereby implying that you agreed
to the policy terms and conditions was agreeable upon and that the same was
in consonance with the application form.



• We received the first concern regarding the said policies on
March 20, 2017 after 03 Years from last policy issuance date.



• We understand a verification call was initiated at your
registered mobile number [protected] prior to the issuance of the policy
wherein all the policy benefits were explained. The said application was
issued only post receipt of your consent in the verification call.



We would like to confirm you that all our products are filled with and
approved by IRDAI and benefits under our policy are strictly paid in
accordance to the policy terms and conditions as mentioned in the policy
document received by you.





In view of the above, we are unable to comply with your request for
cancellation/alteration of the policy.



If you are unable to pay the further premiums, you can avail the premium
discontinuance feature which is explained as follows:



In case the premium is discontinued and if the policy is not revived
within the Extended Period the life insurance cover and rider cover, if
any, shall cease. At the end of the period or on receipt of intimation that
the policyholder wishes to withdraw, whichever is earlier, the Fund Value
shall be transferred to the discontinued policy fund after deduction of
applicable discontinuance charge as described below. Thereafter, no other
charges shall be deducted while the policy is in the discontinued policy
fund other than the fund management charge of 0.5% p.a. of the discontinued
policy fund. In case of death before the end of the fifth policy year, the
discontinued policy fund value shall be paid to the nominee.



At the end of the fifth policy year, the discontinued policy fund value
shall be paid to you. The interest credited, during the discontinued period
is that earned by the discontinued policy fund, subject to a minimum of the
interest applicable to savings bank accounts of State Bank of India or
other rate that the Regulator declares from time to time.



Applicable discontinuance charge for the policy year in which the policy
is discontinued:

1st year - Lower of 6% of (AP or FV), subject to a maximum of Rs. 6000

2nd year - Lower of 4% of (AP or FV), subject to a maximum of Rs. 5000

3rd year - Lower of 3% of (AP or FV), subject to a maximum of Rs. 4000

4th year - Lower of 2% of (AP or FV), subject to a maximum of Rs. 2000

5th year and onwards - Nil



Where AP is Annual Premium and FV is the total Fund Value at the time of
premium discontinuance.



Considering above and keeping with the policy terms and conditions, we are
unable to comply with your request for cancellation of the policy numbers
18300669, 18426852, 18447499 and 18521782.



For any other clarification on your policy, please continue to write to us
at [protected]@iciciprulife.com or contact us on our customer service
helpline number[protected].



Warm Regards,



Akshata Dhume

Complaint Redressal Officer

Service Central Office

© 2017, ICICI Prudential Life Insurance Co. Ltd

Communication Address: ICICI Prudential Life Insurance Co. Ltd., Unit No.
1A & 2A, Raheja Tipco Plaza, Rani Sati Marg, Malad (East), Mumbai- 400097
Maharashtra.

IRDAI Regn No 105 CIN L66010MH2000PLC127837

Registered Office: 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400
025, India

* Insurance is a subject matter of solicitation

UIN: 105L143V01

To know about grievance redressal mechanism please visit our website
www.iciciprulife.com

now to
Akshata Dhume

i reuest you that dont sent agent like that to lure people and after wards sent an email that we sent u notebook and all that.

i want my funds back show me the procedure