ICICI Prudential Life Insurance Complaints & Reviews

Hello,

I am an nri customer and i was made to invest under this policy with gross misrepresentation and disclosure. There is a trust relationship between the bank and its customers and this was definitely breached with this investment. While visiting the branch last year in feb-march 2016 timeframe the said policy and product was discussed with me and i was assured that this is the best policy to invest in. I was just shown the return part and told stories about other customers.

On inquiring about the charges i was told there are minimal charges of around 10000 and that is it. Of course there are returns of 12%, 14% or above are promised. No one discusses if these are not achievable then what. There are tactics used and pressure put on you to give money even while you are out from the country. And you are asked to be on a phone just saying yes to everything that the customer care rep is asking about on the phone when called from the bank. I did invest with trust, however this year in jan - feb timeframe i discussed the low rating of the policy and comments on high charges on the policy, inclusive of mortality, fund management charges etc. It was quite shocking and i did leave email messages to call back, however i did not receive a call. When i did not pay my premium for this year tehere were constant reminders and a rep also reached out to me.
While he was pretty open on asking about the charges but it was shocking to learn that from beginning of the first year there are so high % of deductions from the policy and in the last year is almost 20 % of the premium amount. I really don't see any sense in paying these charges. It was even told to me that i cannot get out of the policy which was not the case earlier when discussed. I am almost inclined to go to the consumer redressal forum with this and reclaim all the charges and investment on the amount.

Can anyone please explain what can be done with this now as it is putting your name in bad light. Customers like me don't feel very confident in the icici name now.

Best regards,
Jagjeet

Dear sir,

On dated 23/05/2017 there is unwanted deduction of rs. 6204/-from my icici bank account. And the reference is account statement stated as [protected]/1205/iprugrpterm/dc

My icici bank account is[protected], branch bavla.

Kindly requesting you to return my deducted amount that is rs. 6204/-

If this amount is deducted for any type of policy then to tell you that i am not interested in any type of policy for now.

Please do the needful as early as possible.

I'm an investor in wealth builder 2 since 2014 and i have paid 3 premiums so far.in august'16 one of the senior personnel from icici prudential met me saying that your fund is very low, henceforth
Im here to boost up your funds. The ats option is not checked in and there fore he made me to sign a document containing the details to opt for the ats. But when i contacted the person who initiated
This policy for me said that he included the ats. But they both had contradictory opinions when they had a conversation through phone.
This person who met me some how convinced me to choose the icicipru iprotect smart product saying that you fund value will get boosted if you choose this product and im the sole responsible contact for that and he promised to meet once in 3 months with the fund performance.
I got information from trusted sources that wealth builder 2 and iprotect smart are not linked in any way.
Im trying to get an appointment from him for the past 2 weeks, but he is avoiding that by giving silly reasons and not responding to my messages.
Also he added that if you wish you can discontinue the iprotect smart in one year.
I request you to send a new personnel to me for further clarifications about the policies
And take a strict action on the personnel for mis-guiding the customers.

The policies are,
Ipru wealth builder[protected]
Icici pru iprotect smart[protected]

Attaching here the conversation that we had at the time of initializing and the contact of the senior personnel.

Thanks and regards,
Manikandan s
+91-[protected]

I have paid my policy no 16627996 premium through mobikwik on 2 may 2017 and till date it is not updated and i have paid for it and i have complain two time for it but could not get any solution till the date and mobikwik customer care suggest me to directly contact to operator by using operator id mobqmp[protected] please do necessary action and please give feedback.

ICICI i smart policy number 19844786, policy was due for Renewal on 11-Mar-2017 and the request for cancellation of ECS/Policy was submitted on 02-May which was also acknowledged and cancelled. But the money was debited on 29-Apr-2017 and when enquired with customer care understand that someone in the process have given a manual request for re-debit from their end and the money was debited, there is no resolution till now instead they say that the issue is escalated with the highest authority who does not even acknowledge a customer complaint. The case is still open and my money is due for credit until today with the worst customer care services. Please do remember that ICICI Prudential customer care only works between 10 A.M to 06 P.M (Monday to saturday) and when you face any critical emergency issue with reference to life accident/cover/insurance you have to wait till the next working day for a resolution by then all is over.

I have received below mentioned messages

08May - Dear Customer, policy documents of your policy no. 20980379 are available on www.ipru.co/?ywvix2fm. Enter the first four letters of your name in lower case and date of birth in ddmm format to view them now.

05 May - Thank you. We have received the premium of Rs.100000 on your policy no.20980379. This will be applied to your policy on the due date or the payment date(if it is after due date). We will send you a confirmation with a premium receipt

05 May - Welcome to ICICI Prudential Life Insurance.Your policy no 20980379 is issued on 04-May-2017.You have a free-look refund option on your policy.Read your policy document for details. To update change your email address SMS EREG EmailAddress PolicyNumber DateofBirth TO 56767

04 May - Dear Customer, Loan Welcome Letter for Acct XX1815 sent by Blue Dart Courier, AWB [protected] on 03-MAY-17. Check status using iTrack feature on iMobile at mobile.icicibank.com/dl

03 May - Thanks. Your ref no is OS07196407 Premium amount Rs 93, 633 has been received.

30 Apr - DEAR CUSTOMER YOUR MORTGAGE LOAN APPLICATION NO67894195HAS BEEN APPROVED BY ICICI BANK.FOR DISBURSEMENT PLEASE CONTACT YOUR SALES REPRESENTATIVE

I have applied for a home loan from icici bank. They have done my insurance forcefully and the signature on insurance proposal form (in last page of policy document) also looks forged.

Please let me know what is this all about. Where should I lodge the complaint against the bank and its representative.

Both ICICI bank employees and ICICI Prudential agents misinformed and used wrong tactics to sell Wealth Builder and Elite policies. Client id 49178990
I wanted to invest my money in India. These policies were sold as better investments than FDs which is turning out to be false. They didn't say they were market driven and so not safe investments. Also, they didn't inform about the high operational costs. I was told to stop one policy to buy another because of being a better policy but was not told that I cannot withdraw my money from the stopped policies for 5 years.
Their online system is so pathetic that it took months to get my online id set up, then another few months to get all policies into one customer view. And after a few months of working fine it started giving incorrect login id for the same id I was using fine.
The whole scheme seems fraudulent using aggressive methods and incomplete information to sell and mint money.
A lot of my money is stuck and I want all of it back.

My policy no 12043732 which I purchased in 2009 is showing its foreclosure. I was told by the manager than that year that I had to pay only 50, 000 to get cash back as per funds invested in market. I was going through divorce that time, I feel the manager took advantage of my suitation and made a mock out of me. I want my refund back, I fail to understand this kind of closure.

Espected sir
My self sukhwinder singh and i have joined this organisation from[protected].due to sum personal reason i cannt continue this job so i m resined this job dated as on[protected].but i omhave not recieve any resignation letter from ur company. as soon as possiable send me my resignation letter on my this id: [protected]@gmail.com.

regards:
Ajay Kumar singh
Emp. code: 5004411
Asst financial services Manager
Varanasi

Dear sir/ madam,
I had subscribed to your policy plan ipru elite life i i vide policy number 20854136, in the name of my wife, mrs roshani jain.
After going through the features of policy on internet, i did not find the policy ṭo my liking and i wanted to cancel it. For this i contacted ms taruna bansal, who had originally made me the subscriber ṭo the said policy, posted at icici bank at sikka colony branch at sonipat, ṭo do the needful, on 10th april, 2017.
She told me that after the policy document comes to me, then only, she can start the procedure of cancellation of policy and assured me that no deduction from my money will be done while refunding.
After receipt of policy, on 14 april, i again contacted her and she reassured me that she will get the cancellation done and that i will be called in the bank on 18/04/2017. She did not call me and when i visited the bank on wednesday, 19th april, i was informed that she is on leave and will come back on 24/04/2017.
I again met her on 24/04/2017 at model town branch, where she had been transferred. She reassured me that she will talk to mr amit, manager at sikka colony branch, and will start the process of cancellation.
On 25th april, mr amit and ms shallo and one more person from ambala visited my house and tried to pursuade me from not cancelling the policy. But i did not agree.
I again met mr amit at 10:00 am at branch in sikka colony on 26/04/2017.
He told me that he will again visit my house in afternoon and will do the needful. Then ms shaloo and one more person came to my house at about 3:00 pm and again started pleading for continuation of policy. I again refused. Then she asked me ṭo bring my wife (Policy is in her name only), to the sikka colony branch at 4:00 pm, to sign the cancellation request letter.
We reached the bank at 3:50 pm, and were told that neither mr amit, nor ms shaloo are present in the bank. The bank staff called mr amit, after my repeated requests, and then i was informed that mr amit will visit my house between 6:00-6:30 pm.
I called amit, the manager, at 6:22 pm at his mobile number [protected]. He again fooled me and showed his inability to come and that he will come in the morning.
Now what should i do?
This is unbelievable harassment of a senior citizen and his ailing wife.
They had contacted me maṅy times before subscribing ṭo this policy and got all signatures of my wife at my residence only and if we want to cancel the policy, she needs ṭo go to the bank branch.
It is complete apathy on part of bank officials and i lodge a strong protest and complaint against this behaviour.
For your information, i am the customer of icici for more than 15 years and the treatment meted to me is completely unacceptable.
I ask for a strict action against the erring officials and also urge you to please cancel my policy and refund me my amount.
Further, i am apprehensive that the deadline for asking for cancellation of the policy may be over in a day or two and after that i will not have the option of cancellation, the bank staff is trying so that the free look period is lapsed and i donot cancel the policy.
Please help me.
Thanks

Sp jain
H/o
Mrs roshani jain
Policy number 20854136

To whomsoever concerned,

I've taken a home loan from ICICI Santosh Nagar branch, Hyderabad with loan a/c: LBHYD[protected] and ICICI prudential policy no: 20477446 I was forced to take the icici prudential insurance along with the loan. I asked several queries before taking the insurance. An icici executive told me that I would be covered for Job loss protect, death and physical illness under the policy. I asked the executive (Shiva) several times to confirm that. After 3 months I got to know that job loss protect doesn't cover at all under the policy. When I escalated to manager(Manohar), he said that the executive got confused between 2 different policies and cannot provide any solution even after accepting their mistake. U guys are literally bluffing and cheating people on the name of insurance. I never expected this kind of pathetic service from ICICI bank. I want all my policy premium back along with the taxes and I want an action to be taken against the executive and the corresponding manager as they have already accepted their mistake and found guilty. I'll definitely post this all over the social media if you doesn't act immediately on this. However I'll never recommend any of my colleagues to go for ICICI loan and spread this message as much as I can.

Regards
Pradeep Kumar
[protected]

From
R. Antony xavier
39. L, kalayagam
Ramnagar, devakottai.
Sivagangai (Dt)-630302

To:
The manager
Icici prudential life insurance

Ir,
Ref: 1) icici pru guaranteed savings insurance plan - uin105n114v01.
Policy no :15672943
2) icici prudential life insurance lifetime super pension policy no:65707879
3) icici prul guaranteed savings insurance plan - uin105n114v01
Policy no : 16228456

As per the reference icici product policies i here invested rs.96000 (Ninety six thousands only) due to my inability i could not continue my renewal premiums regularly. Now, i want to surrender my policies and get back my premiums that was remitted earlier. I could nat get proper response from your officers. So, please help me to surrender my policy and get back my money.
Thanking you

Yours,
R. Antony xavier

R/Sir,

I Jitendra Yadav purchased a policy InvestShield Cash Back policy No.07874068 with Insurance from ICICI Lombard indore, M.P. In this we pay amount of Rs. 30, 000/-. We have some financial burden & job less condition we not able to pay the Policy premium. In accident of mine we loss lot of money & job. In the mean time we approached to Insurance company to withdraw the amount. They ensure after the five year passed we withdraw the amount of policy. Know we want to withdraw the amount they refused the claim of mine with the policy is not in working. The amount of deposited by me is not refunded .

Sir, Now five - Six year's gone they not given any amount to me please advise what can I do. Sir we humble request you pls. help us for resolve my problem.

Please cancel the LIC ( No[protected] because last two day back we have received the LIC policy document by post. So I do not accept this policy.because we do not have provide the any type confirmation /alignment during the creating personal loan
So again I would request you please close/cancel this policy and refund my deducted money within two working days otherwise I will be go in high authority .Because this policy created by yours ICICI representatives without my alignment and confirmation .

if you any query regarding the same please call me.

Regards
Surjeet kumar
[protected]

The policy 01418527 matured on 22.02.2017 after postponing the due date . the postponement was sheer compulsion of your staff for their business with a promise that the entire amount can be withdrawn at any time whether premium is paid or not. but now you are cheating me saying that entire money can not be paid. whose money is this? my money. you are trying to cheat me by confiscating the entire amount of Rs.245000/- you are a big company and running on trust of customers but deceiving many customers i heard. very pathetic situation. is there no justice or customer concern? please pay my money saved for my family necessities. then only you will get the support of customers which is the foundation of your business pl note.

Dear Team,
on 31 March 2017 I recieved an E mail showing Rs 6671 debited from my account, on further inquire to my Bank HDFC, they able to find that said payment deebited to my account and credited to ICICI Prudential Life Insurance co,
I am shocked as there were no policy with ICICI, than how its show.

I need investigation and return back my deducted amount.

Dear Icici Prudential

I wish to bring to your attention that Rs 50000 has been wrong transaction from my account. Because I was trying to make of my HDFC LIFE policy[protected] online payment on 8th of January 2017 .

But due to confusion I make payment on icici prudential online with same policy number those you have already assigned to someone so that's why they accept the payment.And I has been did by mistake.

I give the complaints to my local branch in Ludhiana
There is Surbhi mam take complain her mobile no is ([protected]) But there are no one ready to take responsibility because they helpless they give a reason of back end issue. But I don't need excuses because I can understand the policy of bank and even understand this is time takings process but I am waiting from last 2 month. And still not certainly how much I have to wait.

This is hight of ignorance of costumers satisfaction and short out of my problem. I am doing daily call and visit to local branch in my area from last 2 months.

Hope you will understand my inconvenience and problem. And I need resolution of my problem as soon as possible.

Otherwise I have no option to deal with you. And finally I have go to court for my solutions.

The details are as follows:

Holder name -Manoj Kumar

Mobile no -[protected]

HDFC CREDIT CARD

Date of deduction of money:8th January

We have got our patient admited for her surgery in rrm central hospital hoshiarpur.i am having a heath policy from icici prudential life insurance(policy no[protected].hospital has applied for tpa approval and have rectified all the quaries raised by icici prudential.we have not got the approval yet.kindly help us getting our approval done and getting our health claim immediately

Dear Customer Care Team
I have availed two insurance policies from ICICI Prudential in the year[protected],

1) Wealth Builder Policy – No[protected] Annual Premium Amount Rs - 48000/-
2) I-Protect Term Plan Policy –No[protected] Annual Premium Amount Rs 12000/-

I had paid the insurance for first year, but for the 2nd year 2016-17, I could not pay the insurance as I had some other committments, I had informed about the same when two personals from ICICI Prudantial Branch Andheri West, Mr Namrit Shah and Ved Prakash Maru approached me on 18th March asking me to pay the balance premium,

On 29th and 30th March respectively an amount of Rs 13209/- & Rs 48000/- were deducted from my salary account /hdfc bank, towards
premium of my two policies 1) Wealth Builder Policy[protected] & I-Protect Term Plan Policy – 1962058 without my knowledge or consent.

Mr Ved Prakash is the person who got me enrolled for these policies, Earlier I had one unit link policy with ICICI which got matured last year, Mr Ved Prakash asked me to invest the matured amount of Rs 60000/- in above two policies, I was misguided or was not informed clearly that the premium will be forcibly deducted from my account.

Now I am mentally harassed due to this as I have five cheques lined up between 3rd -12th April mentioned below. I have sent a mail to icici purlife but have not received any proper response, neither getting proper response from Ved Prakash or Namrit.

EMIs Lined up;
1) Home Loan -9171/- ICICI BANK 3RD APRIL / (yesterday already bounced.)
2) HOME LOAN TOPUP-1645/- ICICI BANK 3rd APRIL
3) HOME LOAN INSURANCE 753/- ICICI BANK – 5TH APRIL
4) PERSONAL LOAN – 14868/- KOTAK MAHINDRA- 5TH APRIL
5) SON'S READDMISSION FEE Rs 22576/ 12th APRIL

I am completely shocked by the way Rs 61209 has been deducted from my account money has been debited from my without my consent. Now I don’t have money to pay my EMis and run my family monthly expense as 90% of salary is debited by icici prudential bank despite myself asking icici prudential employees that i wont be able to pay .


I want the amount Rs 48000/-to be reversed back to my saving account
Hdfc Bank Saving Acc No - that icici has deducted
towards Policy No Wealth Builder Policy[protected] on 30th March, I will
pay up the premium later on when convenient for me.

Regards
Sarafat Ali Sha

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