ICICI Prudential Life Insurance Complaints & Reviews

I had taken ICICI PRU Life Time Gold Policy (Policy No. 07667619 Rs. 50000 approx pa) on 8th Feb 2008 and after that could not make premimum payment due to some unavoidable reason. Now I have requested ICICI PRU to revive my policy by collecting the payment but they are asking to pay pending premium first and then a medical test will be conducted to see my medical situatoin based on which it will be decided by ICICI PRU whether this policy can be continued or not, which is fair enough but I have seeking clarification from them about my refund if policy can not be continued due to medical reason. Though they have discussed with me over the phone but not giving in writing and also saying that my policy will be foreclosed if due premium is not paid before 5th Feb 2011. As I have already mentioned that I am ready to make due premimum payment but clarification to my query is required so that accordingly I can decide on making this payment. This clarification is pending with them since 15th Jan 2011 and now they are not responding to me inspite of several reminders. Please help me to resolve this issue. Thanks. Atul Bhatia - +91-[protected]

To,

ICICI Prudential Insurance company Ltd


Re:Complaint against ICICI Prudential Insurance company Ltd
Wrong rejection by the company of policy holders availing cancellation action within free look period- Policy No.[protected] ICICI Pru Assure Life( UIN:105L093V01)

Sir,
I took the abovementioned policy.The company’s agents Vinay Kathuria & Himanshu misled me regarding terms and conditions of the policy so in effect they sold the policy by playing deception on me. I was told that the premium will be paid just for 5 years though policy will cover 15 years period but in fact the premium is to be paid for 15 years.I was told that policy will cover medical facility for Rs 2 lakh but there is no such provision in the given policy.

Finding the policy papers on 11th Oct 09 and finding the terms and condition quite different from enumerated by the agents I opted for the cancellation of the policy and sent the company the cancellation letter dt 21st Oct 09 on 23rd Oct 09 through speed post which reached the company on 27th Oct 09. The company rejected the cancellation letter just because it reached the company on 27th Oct 10 instead of 26th Oct( within 16 days of the receipt of policy instead of prescribed 15 days from the date of the receipt of policy papers) though the cancellation letter had been posted with 12 days of the receipt of the policy,

By rejecting the request for the cancellation on filmsy ground that the mail reached the company on 16th day instead of 15th the company has flouted the regulations imposed on the companies by IRDI giving right to the policy holder to cancel the policy within free look period.The company seems to be in cahoots with the agents indulging in fraudulent practice of enticing the customer by presenting the non existent attractive terms.
R. Kumar
505, Kuchapati Ram
Bazar Sita Ram
Delhi- 110006
Mobile [protected]

Reg. my LifeTime Pension II policy no. 01357286, I received a letter (attached with this complaint) on 29th Jan, 2011 from ICICI Prudential stating the following:

"We wish to inform you that your request for change in premium payment mode...."

First of all, I want to make this very clear that I have never ever requested for a change in premium payment mode, and thus, this letter was a big concern to me.

Therefore, I called up the AP customer care and spoke to the CSR Mr. Vishwa Bhat, who was not able to provide any concrete reason why this sudden change in payment mode to ECS took place, even though I had never requested for it. He was repeatedly trying to put the blame on the bank/service provider.

As a customer, I would like to know that without the customer's knowledge and his/her consent, how can such changes in policy take place. Mr. Vishwa Bhat, the CSR to whom I spoke, was not able to provide any satisfactory explanations and was trying to confuse me by giving lame excuses. Moreover, even though I repeatedly requested him to take down my complaint, he straight away denied and was far from cooperative.

I had been paying the premium amount for the last 6 years by cash/cheque and this sudden audacity on the part of ICICI Prudential has raised doubts about their work processes and customer service.

I am sure that many other customers may have experienced the same issue and therefore, I am posting my complaint on this forum with the hope that this will be addressed by the concerned officials.

- Deepti Mishra
Hyderabad.

PREMIUM PAID RECEIPT RECEIPT NOT RECEIVED BY ME SO FAR
Life Assured's Name: Madhuri Sushil Raje
Plan Name: Hospital Care -- Policy No.: 06517553 .
PREMIUM RECEIPT NOT RECEIVED SO FAR.
PAID RS 14,272.00 TOWARDS ABOVE POLICY ONLINE PAYMENT.
REGRET ICICI PRUDENTIAL LIFE INSURANCE HAS NOT SENT
PREMIUM RECEIPT AS ON DATE

MADHURI SUSHIL RAJE
MOBILE NOS. [protected] AND [protected]
E-MAIL: [protected]@rediffmail.com & [protected]@rediffmail.com

* Mandatory Fields
*Name of Complainant Mr./Ms.Nalavade Sachin Ramling
Communication Details 1394, Vinayak Nivas , Loni Kalbhor
Door No./ Bldg/Name/ Floor 1394, Vinayak Nivas , Loni Kalbhor
Street / Area Loni Kalbhor (station)
*City/Town/Panchayath/Village Loni Kalbhor (station)
Taluk/Tehzil Haveli
District Pune
*State Maharashtra
*Pin Code 412201
* E- Mail [protected]@rediffmail.com

Telephone No [protected]
*Mobile No 91+91-[protected]
Fax No
*Insurance Type (Please mentioned Insurance Type SMART KID (CHILD ) LIFE INSURANCE , TRADITIONAL POLICY, Icici prudential life insurance
*Life
> * Non Life
*Insurance Company Name ICICI PRUDENTIAL LIFE INSURANCE
Policy No: ICICI Pru Smart Kid (UIN: 105N014V01) policy number 03259994
Cover Note: ICICI Pru Smart Kid (UIN: 105N014V01) policy number 03259994
Other Reference No: L03259994
Other Reference No: 17229601
Details of the Complaint (Please type the full details of the complaint)
sir i have policy smart kid from 2006 which premium was going through ECS from my ICICI bank current account from 1 st premium... suddenly the premium ECS was stopped to withdrawn from my account after 2.5 years regular ECS withdrawn on from April 2008 . i complained about in bank why stopped my premium... first there was no any reply...after ward s they told your cheque bounced however no cheque was bounced....they they replied your mandate is not matching with your bank account.....then my question was after two and half years after deducting my premium from same account....how u telling so? OK 2nd is if such thing happen company should same body to my home to change the mandate as required.....? because.....at the time of opening policy u send your executives to customers homes....then y not for complement solving purpose....? after my complaints also they doesn't cared it and not started premium....... however in march 2009 i filled all payment due 26026 by cash in swargate branch of insurance company.......then also they had not started my ECS.....telling u should fill penalties for late payment......? i told them there was not my fault.....u should have sent somebody to me to collect another mandate and payment also.....? after that also....company not started my policy however my payment was lying in company account.......... also in Aug 2009 i filled remaining 8000 rs amount for further premiums....then also company not started my ECS and policy also.......... in mar 10 again i filled remaining 16000 amount till 31 march 2010 as premium amount...... still company not started my ECS and policy also........ after this in April first week i asked to refund me all my payment ....which was Lying in account and in policy also........ still yet they have not solved my problem........Sachin Ramling Nalavade,
after giving letter to refund me all my payment ......after one week i found company deducted the ecs from my account............? on 18 April 2010..........? how? after two years....without new mandate and after i asked to refund me all payment...? when i have asked for refund me all my payments and withdrawn some amount which was lying with out invested in policy. how company taken payment from my account with the same providing from me at initially in 2006. this indicates company is just cheating people and doing as per its own rule......rudely...in wrong way......... never u think this is just a cheating.......thus after this premium again they stopped ecs.....how?.............. thus from three years i m fed up of this wrong policy and thus i should get all my payment invested in policy with a proper interest........i request u to look in it........ my cell no is .....[protected] , here are some conversation bet me and company: This is with reference to your concern
pertaining to ICICI Pru Smart Kid (UIN: 105N014V01) policy number 03259994
received from Insurance Regulatory and Development Authority (IRDA) on July
25, 2010.

I have
reassessed your concern and have considered all the aspects before providing
our decision to you. Hence I wish to reiterate that the company stands by its
decision conveyed to you vide our email dated February
26, 2010.

I wish to inform you that Electronic
Clearing System (ECS) was sent to your bank to collect an amount of Rs. 2169/-
(Rupees Two Thousand One Hundred Sixty Nine Only) on April 10, 2008, however
the same was dishonored by your bank on April 22, 2008 reason being
“Account description does not tally”. with use of same ecs u have deducted money from my account for more than 2.5 years ....how was that?

Please note a Short message Service (SMS)
was sent to you on May 06, 2008 informing you about the lapsation of
aforesaid policy. On April 30, 2008, you had approached our branch to update
the ECS details and the same were duly processed, however since we had not
received the premium, policy had lapsed. i approached to u to ask to start ecs....before u r informantion to me....why ecs was not started?

Sir, we have contacted your bank to get
more details on the dishonor of the premium collection in April 2008, however
they are unable to divulge any information for security reasons. Hence request
you to kindly contact your bank in this regards.bank told me we rend reason to company and see there?

I trust the above explanation clarifies your concern.

Please
do let me know in case you need any clarification.

For any other assistance you can contact
our customer service helpline [protected]. You may also write to us on
[protected]@iciciprulife.com
Warm Regards,
Nitu Singh
Manager- Customer Relations
Corporate Office

© 2010, ICICI Prudential Life Insurance Co. Ltd
Direct: +[protected] Fax: +[protected]

some question from me to insurance company:
madam,
thank you for your reply....
pls study the case an all respect and pay me back my all premiums paid in this ploicy....smart kid ploicy..as i dont think my guilt is there..as
1. i have not stopped the premiums ECS from my bank
2. i[censored] said my mandate was not matching ..then how u could able to deduct my premiums for at least 2 and half year before the date...
3. after that after so many calls from me why u have not starter my ECS ...i[censored] said it was not possible for your company to start without my concert then after 2 years on[protected] how it is deducted without intimation me...( this is also after i asked to stop the policy and refund me the all premium amount with proper interest from your company...
4.so in this at the time of starting policy your person was came to start policy and also for all documentation..then why didnt u send that person again when u faced probleM in starting ECS AGAIN.U SHOULD HAVE SEND PERSON TO SOLVE THIS COMPLAIN ALSO...is it the fact that only get collect money from customers and then leave them on air....
5.after this also i have fill all premium due by cash in march 2009 amount 26026 and also in august remaining around 9000 and again in march 2010 rs 16000...and after this also how u have not started my policy... when my premium amounts were lieing in my account in your account..... this all money was lieing with u hove ever you had not started my policy...
so after so many requests and calls i decided to stop the policy and asked you to refund all my money you used , with proper interest.
so pls return me all my money urgently...
finally it seems that this company believes in wrong practice and to cheat customers only........? thus i need all my payment with proper interest and penalty for mental disturbance to me rs 10,00,000 Rs and also my loss if something happened me in between this period(coverage of Rs 500000. and accident benefit rider ...Rs 300000 )...and the loss of benefits which is happened due to companies policy Sachin Nalawade


in such condition it was companies duty to solve such problems at customers door step as company come to open polices at customers door step... at the time why u not able to verify all documents and application forms and mandates...
so this policy also i am thinking to stop and ask all money refund.
sachin nalawade.

sir my policy no in icici pru life is 13310567 and I paid a premium of rs 16000 in last year[protected].

but in policy my deposit value is 0.0000
so what i am doing

this is the fraud company.
i have paid 16000
and my value is 0.000

how can i surrender and gate my money
please help

22nd Jan, 2011
The Authorities Concerned

This is to inform you that I have below policies of ICICI-Prudential. I have been told by many people that ICICI gives gold coin as gift on purchase of certain policies. I have never received such gifts. I am paying total annual premium Rs. 1, 34,700/ to ICICI-Prud. Recently a lady adviser sold me a policy at S/n 4 below & promised for a 1g gold coin as gift, but didn’t give yet.

S/n Policy# / Date
1 4910557 / 23-03-07
2 12521747 / 09-09-09
3 13752152 / 10-04-10
4 14826722 / 29-12-10

Rakesh Mathur
[protected]
mathur.[protected]@gmail.com

Life assured's name: madhuri sushil, raje plan name: hospital care
Policy no.: 06517553. Premium receipt not received so far.
Paid rs 14, 272.00 towards above policy online payment.
Regret icici prudential life insurance has not sent notice
And premium receipt as on date inspite of several reminders
Over phone to their customer care division.
They have also blocked their contact us e-mail site...

ICICIPRULIFEINSURANCE provided a facility to collect premium cheque by sms<COLLECT>56767 &policy no. I sent the said sms with mypolicy no[protected]times in a span of 20 days. At every sms the reply I have recived that the cheque will be collected within 48 hrs & some has taken my datailed adress also. .But nobody turned to me to do so .In spite of that reverse message I am reciving that only 6days are left,only5days r left.THen what the use of that facility?BUT every alternate day there is phone call for new policy registration. I am Fadeup of the calls &service of ICICIPRUINSURANCE.

I happen to purchase a new product from ICICI Pru Life named Guranteed Savings Insurance Plan on 5th Dec 10.i would like to highlight about the ICICI prudential staff of residency road branch, Bangalore ( Named :- Aravind;Vijay;Hari;Abhisekh etc ) who not only cheated in selling the product also made fake commitments about the product. As a result I was forced to cancel the policy after facing many inconviniences which was in free look period.

Few Reasons for Cancellation:

• Lack of transparency in the policy doc ( Guaranteed Maturity Benefits as committed by the staff, Residency Road Branch; Bangalore )
• Poor service by the ICICI Pru Staff, Residency Road Branch, Bangalore
• Multiple people involvement to a customer and bluffing the policy benefits.
• Fake Commitments and promising to deliver Welcome Kit;Bond;Illustration each separately
• Gold Coin Offer by the Zonal Branch ( 1 gm gold coin for Rs/- 25000 as Premium;2 gm gold coin for Rs/- 50,000 as premium etc )
• Not taking the calls with excuses and escaping policy there by making the customer wait for days.
• Making mistakes by the under writer even after the right proofs submission
• Multiple calls from the same branch with different promises and making the customer wait and wait for no reasons to ensure free look period is lapsed.


The above reasons were communicated to the customer care and registered for the action.

I do strongly believe that ICICI is one of the best banking and insurance sector in the country. Having said that, I apologize in cancelling the said policy. Reputation of the sector is getting affected by having such people who are directly or indirectly involved in selling the policy and many more customers.

I paid a premium of 25200 rupees through IVR using HDFC bank credit card for the policy no. 02043482 on Nov 20th, but the ICICI pru life people are telling that they didnt get my payment. I sent a copy of my HDFC credit card bill to them as proof of my payment. Then they asked me the transaction code and I gave them authorization code i.e. 089685 and ICICI pru life has sent a mail after many days of follow up telling that HDFC bank people are not cooperating and not giving any details. So I am submitting the complaint to this this consumer forum.

I had taken ICICI policy Life time Gold , in 2009 , After payment of 1,00,000 INR the total sum accumulated is only 85,0000, Its a bull policy , They had promised return Guranteed of 13.5 / unit
for all the three years , under RGF , But in 2 nd year its invested in Flexi growth , every year they cut the fund management charge , apart from allocation charges, which is not mentioned in Policy document.

All Icic Pru life plans are plans , You loose a lot on it. IRDA should Ban this companies to do business , Investers are dont get justice out of it.

Laws shouls be in place to protect Investers.

Regards,
Amit.
[protected].

Folio no 4539759/8 as per record e mail is [protected]@gmail.com but some days back i got a letter that bounce of statement of account in ur e mail id....
there is some mismatch regarding the e mail id...so i want to corrct the e mail id and send me my statement of account in the corrected mail....

My correct email id is [protected]@gmail.com
thanks,
Manas Ranjan Das
[protected]

Respected Person,

This is our complaint regarding our surrender amout differance.
As we had submitted a surrender request on 9th nov 2010 at your office malegaon branch.
And i have recd a acknowlegement also for same.
But after so many harrashment9 (by your employee and staff-Malegaon and nashik branch due to lack of there knowleged) and difficulties our policy has been surredner on 7 th dec 2010 and unit are given also dt 7th dec .So that we are not accepting this amount which we have recd.So we want a surrender amount which day we have put a request for surrender. Other wise we have to take corrective action againist to u for this complaint.
As there is not any personal benifit under this policy as the policy owner is a co-oprative org.
Kindly reslove the matter as soon as possible to aviod corrective action.


CC: IRDA
Respected Sir ,

Kindly see the above trail mail ,We are been too much been harrashment by icici prudential and theire emplyee .As we are a co-oprative org for to helping poor people for small loan in very low interest rate where we can't manage this economic looss from iciciprudential .As all documents are given properly .But still we have not recd a unit value of request submiited date.
Dear sir kindly take corrective atcion against issue and i hope that my org will recd ur help to reaslove thhis issue.

For regarding all proof of the documents and papers has been attach .
Kindly see the attachment for your confirmation.


as we had already send the copy of this papers to follwoing address.
1-ICICI Prudential -Mumbai Branch
2-Co-oprative dept -Satana ,Nashik
3-IRDA -Dehli


regards
Saptshrungi Grammin Bigar Sheti Patsantha .
Nampur
[protected]

Dear Sir,

1.I had taken a ICICI Prudential policy No[protected] in the name of my son Mr Abhishek Chikara.

2.In Feb 2010, I deposited a cheque (No 408579) drawn on SBI Gurgaon at ICICI Pru Life Alwar office for a sum of Rs 100000.00 and on the reverse of the cheque I had clearly written the policy no. 01374834.

3. However Mr Amit Verma and Mr Dinesh Sharma from ICICI PruLife Alwar office apparently fradulently used that cheque for issue of a new policy in my name bearing No 13464508 WITHOUT my concent.

4. I believe that some UNKNOWN person in conivence with your Alwar (rajasthan ) office OfficialsI (possibly Mr Amit Verma and Dinesh Sharma) subsequently cancelled the newly issued policy and took away the money.The money realized by cancelling this new fradulent policy was sent to some bank account in Alwar from which it was collected by the fraudster. I HAVE NOT receivced that money.

5. On repeatedly complaining to ICICI Prolife grevience cell, they are just keen to close the matter as resolved on nthe pretext that they have send a cheque after cancellation of the policy, without finding the facts and bringing the culprit to justice.


6. I never recieved the new policy No. 13464508 physically, hence question of me cancelling the same does not arise. I do not even know what address they used at the time of applying for the new policy.

6. All this was done fradulently without my notice and consent.


I would like to request you to kindly take up the matter with the authorities so that the guilty may be punished and I may get my money back. I will never ever have any dealings with ICICI Bank or any of its sister concerns and wil like to exort everyone to avoid them like plaque.


Dr Devendra Chikara

I, Ramesh Dommeti am invested an amount of Rs.15000/- ICICI Prudential under LifeStage Pension Policy.

Because of my financial problems, I could not able to pay the next installment & want to continue the invested policy amount for future growth.

I have received a Foreclosure Cheque for an amount of Rs.3542.71 from ICICI Prudential without applying for the same & Current Value o[censored]nits under my Policy mentioned in Foreclosure Letter as Rs.14,170.84.

Life Stage Pension Policy, Policy No: 07231248

I'm really un-happy with the Service provided by ICICI Prudential Life Insurance, as I received a Foreclosure Cheque without applying for it & Even I could not able to get the Current Value o[censored]nits.

Attached Foreclosure Letter with Cheque.

Please do the needful help for this issue.

Thanks & regards,

Ramesh Dommeti
Kakinada
Mobile :[protected]

Ref: Policy no. : 08250445,13405368,13400823,13434929

I have given three cheques of Rs. 7,500/- each for the premium due for my policy 08250445 to the agent. But the company has issued me the three new policy numbering 13405368,13400823 &13434929 of Rs.7500/- monthly premium.
As I received the first two policy, I asked the agent immediately to cancel the policy. He taken the two policy saying that the policy has been wrongly issued and assured that the policy will be cancelled and the amount will be tranfered to my original policy. Also till date the third policy number 13434929 has not received by me. as I am continiously writting the letter to the company but they are refusing it telling you should write it within 15 days.
I have return the two policy on the same day and third policy has not been received so far.

Hi,

I have a life insurance policy (nbr[protected] against which an amount of Rs. 6486 is being debited from my saving bank account number (00xxxxxx82) without my concern and intimation. Which is indeed a criminal act and not at all acceptable.
Though the plan and the amount debited for my premium policy is monthly based and speaking to the call centre people they argued that I have made an agreement on 21st December 2010 to debit the premium on annual basis. Hence a lump-some amount of Rs. 6486 had been debited from my account without my knowledge. The data updated by the concerned person didn’t cross check what amount should be deducted for the respective policy. As my monthly premium deducted is Rs. 610 and if at all a yearly premium needs to be deducted it doesn’t come to Rs. 6486.
After much digging into the matter it was found that Ms. Sharma from Koshombi (Ghaziabad) had a policy whose premium was Rs. 6486 and his premium amount was debited from my saving bank account. It’s a gross case of negligence and security threat.
I immediately rushed to sector 18, Noida branch and Ms. Kanupriya is handling the matter. She said that the amount will be reversed in next 06 working days.
I had been communicating with the bank people since 27th Dec 2010 and no respite so far.
Please reverse the amount at the earliest with no loss in the interest rate on the gross amount present in the saving account.
The respective policy was opened in 2003 and will continue till 2033 and I hope this type of error will not happen and creating mass inconvenience.


Thanks and Regards,
Abhro Sinha
Ph# [protected]

ICICI COMPLAINT

DEAR SIR,This complaint is being sent to-

REGD OFFICE
ICICI PRUDENTIAL LIFE INSURENCE CO. LIMITED TOWERs,1089,Appasaheb Marathe Marg,Prabha Devi,Mumbai-400025,INDIA

I surrendered policy no.[protected] via Kashipur Branch, UP ) with a cancelled cheque as account no proof ( correct ICICIC bank a/c no[protected] but ICICI Prudential Moradabad, UP branch has transferred amount 61500/- to wrong ICICI account[protected]. By the time I got to know this I was in Noida so I called customer care they advised me to visit any local branch with written application. I went to Noida sec-18 branch on 16 Dec and submitted an written application with a cancelled cheque (see attached acknowledgement ) , they also arranaged my bank statement through internal links to verify whether amount has not credited to correct a/c number. but since then this issue is not resolved neither no one gave me a proper complain number. I tried to call customer care to lodge complain for Moradabad, branch but they said they can't do that. not sure where to go whom to talk whom to aproach. I needed money urgently thats the reason I surrendered policy but I'm into trouble now due to a typo error by ICICI Prudential employee. Ideally they should immediatley process my payment to correct account no but now I am afraid of that if my Rs.61500/- had been lost . Also I have logged complain in Grievance Redressal on ICICI PRU website but no response yet. Please help ASAP.

Thanks,
Arpit Kumar Goel
[protected]@gmail.com

sir
sub: Refund of my Rs.35000.00
with reference to the above, I am not interested to the policy. please I refund my amount of Rs.35000.00 for releasing the bonus amount of Rs 125000.00 released by CWG for which a cheque of Rs.35000.00 along with my details were collected by the document collector as per the so called fund managers of Delhi/Varanasi bearing mobile nos. [protected], [protected], [protected], [protected], [protected] and amount was debited to my account on 4th Dec'10.
More than a month has expired but no satisfactory information is received I had contacted on the above phones.this is for your kind information and advise for getting my amount refunded.
thanking you
prakash chandra
cell no [protected]