ICICI Prudential Life Insurance — ICICI agent mislead customer into buying insurance instead of FD

Address: Ulhasnagar, Thane district

My father (senior citizen) went to Catholic Syrian bank to open an FD using his retirement savings. The manager of the bank insisted that there is a better plan instead of FD which gives guaranteed results and redirected him to ICICI prudentital agent sitting in catholic syrian bank. My father clarified that he has to keep this money for 1 year and later would need the amount to buy a property. The agent and manager assured that the scheme can be withdrawn after a locking period of 6 months. They got him signed on the document without any terms or details and said he will receive the policy at our address.
After 8 months we went back to get back the invested amount and the same agent says the locking period is 1 year and also after one year they will be deducting 1 lakh and can only give the balance amount.
We are in shock and dont know how to proceed and we feel cheated.

Scheme : ICICI prudential Life guaranteed pension plan
Policy number[protected]