[Resolved] ICICI Prudential Life Insurance — False representation by marketing agent-elite 2
Mumbai, Maharashtra, India
My dad had recently visited nearest icici branch to create an FD. While processing this request, bank employee made him met with a Marketing agent of ICICI Pru Life insurance for an alternative investment scheme.
The Marketing agent explained most of the benefits to dad but did not communicate any of the yearly fixed expense he would be incurring if he choose this investment scheme.
To our surprise, when we received our original policy document we came to know that out of Rs 3lacks which we have paid Rs17000 has been deducted as expense and the balance i.e Rs 2, 83, 000 has been invested in mutual fund.
Also my dad was being told that the free look up period will be 1 year where as in reality it is 15 days from the date of receipt of policy.
The whole fraud is on account of false representation by the marketing agent who did not disclose the expense. Had that expense been disclosed to us at that point of time, we would have definitely not taken the policy.
Complaint marked as Resolved Feb 13, 2017
[Jan 07, 2017] ICICI Prudential Life Insurance customer support has been notified about the posted complaint.
Verified SupportICICI Prudential Life Insurance Customer Care's response, Jan 13, 2017
We regret the inconvenience caused. Please share your contact/policy details for us to assist you with your concern.
Team ICICI Pru Life
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