[Resolved]  ICICI Prudential Life Insurance — False representation by marketing agent-elite 2

Address:	Mumbai City, Maharashtra, 401101
Website:	www.iciciprulife.com

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.