ICICI Prudential Life Insurance — not got returns after 5 years of my paid premium on surrender of my policy

Address:

Thane, Maharashtra, 400606

I, prakash yeshwant deshpande have bought a policy named wealth builder from icici prudential life on dated 27/04/2013. Assured sum was rs.300000 and maturity period was 10 years as well locking period was 5 years. When i bought this policy, i was told that, you can surrender this policy, after completing 5 years as locking period and there would be no any penalty charges have been taken from you.

I had paid rs. 30000 premium per year for 5 years. Thus i had paid rs 1, 50, 000 as premium amount for 5 years. After completing 5 years period and as i was in need of money, i have decided to surrender my policy.

On dated 03/05/2018, i have received a message on my mobile no. Registered at icici prudential life, that, your account balance on dated 03/05/2018 is rs 2, 63, 472/- as i was in need of money, i have surrendered my policy on next day of receiving sms that is on dated 04/05/2018. And surprisingly they told me that you will get only rs 1, 31, 000 against surrender of policy. I shown them a message received me from icici prudential that fund value of my policy is rs 2, 63, 472. But they refused my appeal saying that sms could have been sent to you by mistake and you will get same amount that is rs. 1, 31, 000 only.

Sir i have doubt in my mind that how this amount they have calculated. The amount given is not even equal to my paid premium. How they sent me sms showing value of my account is rs 2, 63, 472 and how next day it reduced to 50% less? It all looks suspicious to me. And so i request you that there should be an inquiry needed from you.

Sir i am a senior citizen of age of 66 years. I have no children to look-after me and so, i again request you to help me in regaining my hard earn money as early as possible. I am need of money and desperately waiting your favorable reply soon.

Thank you.

My details are as follows

1) name - prakash yeshwant deshpande.

2) policy no. 17719863

3) name of policy - wealth builder.

4) date of purchased of policy - 27/04/2013

5) maturity period 10 years.

6) premium payment term - 5 years

7) sum assured rs. 30, 0000

8) premium per year rs.30, 000

9) total premium paid for 5 years rs 1, 50, 000

10) date of surrender of policy - 04/05/2018.

11) amount received after surrender of policy - rs 1, 31, 000

12) amount shown on sms on mobile rs.2, 63, 472

13) mobile no. [protected]

14) residential address – 704/2, n. G. Vihar c. H. S. Opp laxmi park-1

P. L. Deshpande marg, near vartak nagar, thane (W) 4006006.

Regards,
Prakash deshpande.