ICICI Prudential Life Insurance — refund of rs. 1 lakh made against policy 21234589

Address:	400706
Website:	ICICI Pru life

I want now a total cancellation of the policy and a total refund of my money with them. They have tortured and harassed me mentally. The refund is possible as per their terms but they are refusing. I am a widowed and retired person with no pension and this amount is very important for my needs. I have approached all their authorities as per their website and none of them have helped.
The letter i sent to the various email addresses and replies:
My request letters are as follow:

Requesting the refund of rs. 1 lac.
Inbox x

Sridevi nair
Nov 4, 2018, 2:31 pm (12 days ago)

To gro


Dear sir,
I am mrs. Sridevi nair, a retired teacher residing in seawoods, navi mumbai. Last year i was convinced into taking a policy (No. 21234589 pru life insurance/ ac no.:[protected] which i was given to understand was a onetime payment only and so i willingly accepted the same.
I did sign the policy and also received the call to confirm the details regarding my policy. All the same i regret that no paper regarding the same was handed over to me at that time and the form that i was asked to sign had the matter with very tiny print which was very difficult to go through. Since i was flying the next day i signed the papers placing trust on the bank and its faculty and more importantly the brand name attached to it.
This year, i retired and returned to settle in the month of may 2018, and approached the bank here in seawoods to inquire about the same and that's when i was told that the premium of 1 lac was due in july. I failed to recollect the fact that the payment was through an auto debit system. But i had left saying i would get back to them as soon as possible. I was shocked when i received a message saying that the amount was debited in july and was left with almost no cash for my further expenses. This i see as a severe breach of trust.
I did approach the then bank manager mr. Amit khaitan, who willingly assisted me to draft a letter to the concerned authorities at prulife office in vashi. I was given to understand, the letter was forwarded and he also told me that it would take 3 to 4 months. I have attached the copy of the same herein. Thereafter i had approached him several times and finally in september he told me that the letter is going through its last approval and the money would be refunded in about 15 days. But i regret to inform you that nothing has been resolved as yet. And the situation at my end is embarrassing, disgraceful and frustrating as i have been borrowing money from my relatives.
Under these circumstances, i request you to kindly refund the amount of 1 lac that was taken in july and also convert my policy to an onetime payment policy wherein the other 1 lac could be retained.
I sincerely hope that you would look into the urgency of the matter and resolve my issue at the earliest. Sincerely, awaiting your immediate response.
Warm regards,
Sridevi nair

Sridevi nair
Nov 4, 2018, 2:33 pm (12 days ago)

To gro


The attachment is herein. Thank you

Attachments area

Sridevi nair
Nov 4, 2018, 2:35 pm (12 days ago)

To smgro

Subject: requesting the refund of rs. 1 lac.

Attachments area

Sridevi nair
Nov 4, 2018, 2:37 pm (12 days ago)

To complaints

Subject: requesting the refund of rs. 1 lac
Dear sir,

Attachments area

Sridevi nair
Nov 7, 2018, 8:16 pm (9 days ago)

To nri

Dear sir,
I am mrs. Sridevi nair, a retired teacher residing in seawoods, navi mumbai. Last year i was convinced into taking a policy (No. 21234589 pru life insurance/ ac no.:[protected] which i was given to understand was a onetime payment only and so i willingly accepted the same. This was done in the seawoods, navi mumbai branch of icici bank. The name of the manager is however not known to me.
I did sign the policy and also received the call to confirm the details regarding my policy. All the same i regret that no paper regarding the same was handed over to me at that time and the form that i was asked to sign had the matter with very tiny print which was very difficult to go through. Since i was flying the next day i signed the papers placing trust on the bank and its faculty and more importantly the brand name attached to it.
This year, i retired and returned to settle in the month of may 2018, and approached the bank here in seawoods to inquire about the same and that's when i was told that the premium of 1 lac was due in july. I failed to recollect the fact that the payment was through an auto debit system. But i had left saying i would get back to them as soon as possible. I was shocked when i received a message saying that the amount was debited in july and was left with almost no cash for my further expenses. This i see as a severe breach of trust.
I did approach the present bank manager mr. Amit khaitan, who willingly assisted me to draft a letter to the concerned authorities at prulife office in vashi. I was given to understand, the letter was forwarded and he also told me that it would take 3 to 4 months. I have attached the copy of the same herein. Thereafter i had approached him several times and finally in september he told me that the letter is going through its last approval and the money would be refunded in about 15 days. But i regret to inform you that nothing has been resolved as yet. And the situation at my end is embarrassing, disgraceful and frustrating as i have been borrowing money from my relatives.
Under these circumstances, i request you to kindly help me to get a total refund of 2 lacs and the interest without any loss of money for a premature closure. Besides the compensation that may attached to this treatment and torture.
I sincerely hope that you would look into the urgency of the matter and resolve my issue at the earliest. Sincerely, awaiting your immediate response.
Warm regards,
Sridevi nair)

Other replies are here as follows:

[protected]@icicibank.com
Nov 7, 2018, 8:19 pm (9 days ago)

To me


Dear customer

Thank you for writing to icici bank. We acknowledge the receipt of your communication.

We will attend and revert to your email in 2 business days.

Disclaimer :- this is an auto generated e-mail. Kindly do not reply on this mail.

Regards
Customer service team
Icici bank.


Complaints irda
Nov 12, 2018, 4:14 pm (4 days ago)

To me


Dear sir/ madam,

We acknowledge your mail.

As we found information to be incomplete to register your complaint, we request you to send the complete details in the enclosed format or you can contact 155255 or[protected]
(Toll free) to register the complaint.

Regards,
Consumer affairs department
Irdai
Nanakramguda, gachibowli,
Hyderabad
Encl: complaint registration form

"caution against spurious calls and fictitious offers - irdai does not involve, directly or through any representative, in sale of any kind of insurance or financial products. Irdai does not announce any bonus for policyholders or insurers. Any person making any kind of transaction with such individuals/agents will be doing the same at his / her own risk."
"this mail may contain confidential or proprietary information intended only for the use of the addressee (S) named above or may contain information that is legally privileged. If you are not the intended addressee, or the person responsible for delivering it to the intended addressee, you are hereby notified that reading, disseminating, distributing or copying this mail is strictly prohibited. If you have received this mail by mistake, please immediately notify us by replying to the mail and delete the original mail and any copies immediately thereafter.’

Caution: “the insurance regulatory & development authority is the regulator for the insurance sector and does not carry out any prospecting or sales. Please do not respond to such offers however official or attractive they may look. These are spurious offers/calls. ”

Attachments area

Sridevi nair
Nov 14, 2018, 9:10 am (2 days ago)

To dinaz. Maira


Dear ma'am,

I am sure you are in receipt of my email, which i sent yesterday. Herein i have forwarded the chain of communication i have had regarding my grievance. Hope this will help to resolve the issue and i will be able to get my money soon.

Regards,

Sridevi nair

*
No reply from her office (Dinaz maira).

Icici prudential life insurance co. Ltd
Mon, nov 12, 9:11 pm (4 days ago)

To me


Dear sridevi nair


This is in reference to your e-mail received by us on november 04, 2018 pertaining to your icici pru life time classic plan, policy number 21234589

. We have evaluated the details highlighted by you and wish to state the following:

· the company was in receipt of duly signed proposal of insurance for icici pru life time classic plan, on july 28, 2017 along with first premium deposit of rs. 1, 00, 000 /- (Rupees one lakh only)

· accordingly the aforesaid policy was issued on july 29, 2017
And the policy document of the policy was dispatched on december 04, 2017 via dispatch mode:- speed post airway bill number:- ea[protected]in at the communication address mentioned in the proposal form.

· as per terms and conditions of the policy, in case of any disagreement with the policy, a policyholder is required to approach the company within 15 days from the date of receipt of the policy document.

· we hereby inform that the company did not receive any complaint from you regarding the said matter within the stipulated period thereby confirming that the terms and conditions were agreed upon.

In view of the above, we are unable to comply with your request for cancellation/alteration of the policy.

If you are unable to pay the further premiums, you can avail the premium discontinuance feature which is explained as follows:

In case the premium is discontinued and if the policy is not revived within the extended period the life insurance cover and rider cover, if any, shall cease. At the end of the period or on receipt of intimation that the policyholder wishes to withdraw, whichever is earlier, the fund value shall be transferred to the discontinued policy fund after deduction of applicable discontinuance charge as described below. Thereafter, no other charges shall be deducted while the policy is in the discontinued policy fund other than the fund management charge of 0.5% p. A. Of the discontinued policy fund.in case of death before the end of the fifth policy year, the discontinued policy fund value shall be paid to the nominee.
At the end of the fifth policy year, the discontinued policy fund value shall be paid to you. The interest credited, during the discontinued period is that earned by the discontinued policy fund, subject to a minimum of the interest applicable to savings bank accounts of state bank of india or other rate that the regulator declares from time to time.

Applicable discontinuance charge for the policy year in which the policy is discontinued:
1st year - lower of 6% of (Ap or fv), subject to a maximum of rs. 6000
2nd year - lower of 4% of (Ap or fv), subject to a maximum of rs. 5000
3rd year - lower of 3% of (Ap or fv), subject to a maximum of rs. 4000
4th year - lower of 2% of (Ap or fv), subject to a maximum of rs. 2000
5th year and onwards - nil

Where ap is annual premium and fv is the total fund value at the time of premium discontinuance.

In case the resolution provided does not meet your expectations you may escalate to our grievance redressal officer (Gro) within 8 weeks at the below mentioned address or at our local branch or represent the complaint through our company website www.iciciprulife.com complaint. You will receive a response within 10 days post detailed evaluation.

For any other clarification on your policy, please continue to write to us at [protected]@iciciprulife.com or contact us on our customer service helpline number[protected].

Warm regards,
Amee patel
Complaint redressal officer
Service central office
© 2018, icici prudential life insurance co. Ltd
Communication address: icici prudential life insurance co. Ltd., unit no. 1a & 2a, raheja tipco plaza, rani sati marg, malad (East), mumbai - 400097 maharashtra.
Irdai regn no 105 cin l66010mh2000plc127837
Registered office: 1089 appasaheb marathe marg, prabhadevi, mumbai – 400 025, india
* insurance is a subject matter of solicitation
Uin: 105l155v01

To know about grievance redressal mechanism please visit our website www.iciciprulife.com
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Inbox x

Customer. [protected]@icicibank.com

Fri, nov 9, 10:55 am (7 days ago)

To nairsridevi37


Dear ms. Devi,
We regret the inconvenience caused to you.
We are deeply concerned with the issues raised by you and regret that our service couldn't live up to your expectations.

Please consider this as one odd negative experience and extend our apology for the lapse. We will ensure that such lapses do not recur.

We would like to inform you that for queries or complaints related icici prulife, you need to contact the icici prulife team on [protected] (Toll-free) or write to [protected]@iciciprulife.com.
For more details, you may visit the icici prulife website www.iciciprulife.com.
We thank you for giving us an opportunity to be of service to you.
Sincerely,
Sankar nekkalapu
Customer service officer
Icici bank limited
Never share your card number, cvv, pin, otp, internet banking user id, password or urn with anyone, even if the caller claims to be a bank employee. Sharing these details can lead to unauthorised access to your account.
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On 11/8/2018 3:40 pm, digvirbhai sodha wrote:
Dear sir/madam,

We refer to your email dated 08/11/2018 for icici prudential policy number 25587011.

We value your relationship with us. Thank you for giving us the opportunity to serve you.

We hereby inform you that the above mentioned policy has been purchased through icici net banking therefore we request you to coordinate with icici bank, as they will assist you in order to close/cancel the policy.

Further below are the contact details of icici bank:
E-mail id: customer. [protected]@icicibank.com and [protected]@icicibank.com

Hope we have been able to address back to your concern.

Yours sincerely,

Seema patkare
Customer service team
Icici prudential life insurance co. Ltd.
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