I am a loyal customer of your life insurance segment, having 8 policies amounting to about 20 lakh. However first time I am feeling like changing the brand, since there has been absolute cheating by your rep. I was contacted by your sales executive Mr Karan Oberoi (Mob. No. [protected], Delhi), who is worki8ng at your Delhi central office, on tele for a pension policy. Since I was in contact with him since last 5-6 months and got three policies through him, I never doubted about what he promised to me. As per his statement the policy offers pension of Rs 12000/- pm if I invest Rs. 150000/- for three consecutive years. The pension will begin from 5th year onwards which is for lifelong and also is a family pension. I checked from my other sources about the policy and its returns as mentioned by him, I was informed that there is such policy existing but the period to begin the pension is ten years and not 5 years. When I asked about this to Mr Karan, he said that ten years is for all other customers but you have been specially selected by our Pune head office and you are oue allied gold customer based on your previous tract record with our company. Therefore for you the period is 5 years. I checked and rechecked about this from him and he assured that it is 5 years and even promised me that this will be endorsed in the policy. As per his assurance I was at liberty to return the policy if the period of 5 years is not mentioned in my policy.
Thereafter he sent the sales executive from your Pune Office, Mr Amar (Mob. [protected]) and Mr Anand (Mob [protected]) at my residence. There I again enquired about the beginning of pension after 5 years, both of your executives assured me the same thing.
I then subscribed to this scheme and received the policy (No. 10933761, in the name of my wife, Mrs Jayashree Borse, Rs 75000/- biyearly). To my horror, when I checked the policy there was no mention that my pension will commence from 5th year onwards. When I enquired about this to Mr Karan Oberoi he told me that there is some communication problem, it is 5 years only, and he promised me that he will get it corrected from head office and he will come back to me and clarify it. However ever since then (16 Jan 09) he has not contacted me, nor he is responding to my number of calls. Your Pune sale3s executives are now telling that since youir wife is not above 45 years she is not eligible for pension after 5 years and it will begin after 10 years only. This clause was never told to me before.
This gross cheating by your company. Your reps are irresponsible and not interested in customer once they sold the policy. This incidence not only has created a lot of mental agony to me but also has wasted a lot of my valuable time and money (for calling your rep for atleast 50 times in last 10 days.
It is therefore requested to please clarify the matter and issue me the policy as promised and take appropriate action against your above mentioned sales executives. If I do not receive any positive response from you I presume that I am free to take the matter to the forums like Consumer Court and IRDA .
Lt Col Sanjay Borse
Husband of Mrs Jayashree Borse
Contact No. [protected]/ [protected]/[protected]
E Mail : [protected]@yahoo.co.in
Aug 14, 2020
Complaint marked as Resolved 
![Postal Life Insurance [PLI]](/img/no-image.png)
ICICI- Prudential Life Insurance — Threatening for extra money
Respected Sir / Madam,I have attached the mail sent to ICICI and now they are harassing me to pay extra.
Respected Sir / Madam,
This is my last resource to complaint to ICICI.
It is being a very thwarting moment writing to you in the way I am treated as a customer of ICICI Prudential Life Insurance.
I have been subjugated and mentally disturbed by your services which made me take the initiative to find your ID’s and write to you to get immediate attention.
Let me explicate:
I hold a policy with your company
 Policy Number : 01297750
 Plan Name: Save’n’Protect
 Amount paid: Rs. 551 per month.
I have ECS for my payment, It so happened that my bank has made a day delay in paying and hence the ECS for that particular month has been delayed just for that one month, wherein I have been a very prompt customer in paying my bills. But ICICI has taken undue advantage of me in cancelling my policy without my notice and also not even intimating me that there is a month’s payment due.
I got this to my attention after a year when just checked my account balance and saw that the amount I have been transferring from my salary account to the account I am paying the ECS to ICICI is on hold. It was more disgusting when nobody even bothered to informed me. WONDERFUL SERVICE. At least you could have charged me extra for that particular month and continued with the other payments but I see a complete refusal of my policy.
After my notice I went several steps to contact and even complaint through many of your sources, the most tragedy part is the office were I took the policy does not exist anymore (and no intimation to the customers).
Following below are the responses I received:
• A agent calling up and stating that they will come down to my office to solve the quandary in person and fixed an appointment at 04:00pm in 2009 and unfortunately it is not yet 4’o clock.
• Another agent stating I have to pay additional amount of Rs.7,000 to get my policy active and when I denied stated he will check with the higher authorities by two days but it has been two months.
• I sent a message to 56767 as “Assistâ€, the agent called up and stated to check and call back by evening but unfortunately sun hasn’t set as yet.
• And the most funniest part is after all these communication especially through the message I sent to 56767 I receive a message on 19/03/2010 stating “WE were unable to contact you on 01297750 with regards to your policy 15-Mar-10. For any queries, SMS Assist to 56767â€. This message is sent after I had a verbal discussion and decided for a final settlement. This message really pulled my nerve to take up this issue to the consumer court.
Now I am told to pay additional charges to reactivate my policy which I am no ready to do when it is not my mistake especially after all these spurious responses.
I am looking forward to restart this policy again from next month as a continuation still when I have paid or else I need my money back. In fact for all the mental harassments I have been offered I will claim for a higher compensation.
When things could have been solved from your end, you have protracted it and I feel it was a premeditated trick as if it was 3 years I can get a surrender value and hence you have done this at the period of 2 years 6 months. When there is 2 sales calls per day why isn’t there any proper customer service calls. Still the person takes the policy you are behind them to the core but once taken you don’t even bother to take proper care.
You can see the below mails for the final reply I got from ICICI, now I need a solution or you will have to bear additional cost in wasting my time and humiliating me
In fact it brought in more awareness after inspecting the below link about your service.
http://www.consumercourt.in/other-banking-services/2668-grievance-related-icici-...⇄
I also hold 3 cards from you and also finalizing ICICI Lombard policy, if this is the state I am afraid to transact through them anymore.
I look forward for your support in solving this issue, I have taken this as my final chance to approach or else I will have to proceed further.
Thanks for your time and patience to read through. In anticipation of your reply.
It would be a great help if someone could find a solution for this
Thank you,
Mala Sai