[Resolved]  ICICI Prudential Life Insurance Co. Ltd. — Cheating From ICICI Prudential Life Insurance Co. Ltd.

Address:

Pune, Maharashtra

Hello Sir, I have purchased policy ICICI Pru Pinnacle Super –LP, policy # 17374937 and wanted to register the issue I am facing. 1 year ago, I wanted to submit my investment proofs in the company by 17th Jan 2013. So on 17th Jan 2013, I went to ICICI bank office in magarpatta, Hadapsar to make a Tax saver FD. The representative there “Navin Jaiswal ” suggested me to purchase a ICICI Pru Pinnacle Super –LP, and explained me that this policy is better than FD with below features. There will be only one time payment with 5 years lock in period. You will be able to retrieve the total funds available in the policy after completing 5 years. There will be no hidden charges, whole amount you pay is invested like FD. I found these features useful for me, So I purchased the policy with RS 50, 000 payment. After 1 year I received SMS and emails regarding premium payment for next years, so I called the customer care and then was shocked to know that I will not get any of the features mentioned above. They further explained me that the policy which I have purchased is not having one time premium payment but a 5 year premium payment and I will not get whole amount after 5 years but I can withdraw partially. Mr. Navin Jaiswal also did not explained about policy allocation charges and administration charges will be deducted from the policy. So now I think that I have been cheated by ICICI prudential company & the agent Mr. Navin Jaiswal and hoping that my whole money with interest will be returned to me. And strict action will be taken against Mr. Navin Jaiswal. I have made a written complaint for the same in ICICI bank Magarpatta city branch on 22 Jan 2014 (PFA complaint receipt). But the bank have not contacted me back. Also please see the attached photo copy of my application form where agent name is written as Navin Jaiswal. After this I made a complaint to ICICI Prudential Life Insurance Co. Ltd but they said that my money will not be returned to me. Please let me know if you need more details and hoping that this issue will be resolved sooner.