[Resolved]  ICICI Prudential Life Insurance — Wealth maximiser icici pru policy 19883561

Address:New Delhi, Delhi

Hello,

I am an nri customer and i was made to invest under this policy with gross misrepresentation and disclosure. There is a trust relationship between the bank and its customers and this was definitely breached with this investment. While visiting the branch last year in feb-march 2016 timeframe the said policy and product was discussed with me and i was assured that this is the best policy to invest in. I was just shown the return part and told stories about other customers.

On inquiring about the charges i was told there are minimal charges of around 10000 and that is it. Of course there are returns of 12%, 14% or above are promised. No one discusses if these are not achievable then what. There are tactics used and pressure put on you to give money even while you are out from the country. And you are asked to be on a phone just saying yes to everything that the customer care rep is asking about on the phone when called from the bank. I did invest with trust, however this year in jan - feb timeframe i discussed the low rating of the policy and comments on high charges on the policy, inclusive of mortality, fund management charges etc. It was quite shocking and i did leave email messages to call back, however i did not receive a call. When i did not pay my premium for this year tehere were constant reminders and a rep also reached out to me.
While he was pretty open on asking about the charges but it was shocking to learn that from beginning of the first year there are so high % of deductions from the policy and in the last year is almost 20 % of the premium amount. I really don't see any sense in paying these charges. It was even told to me that i cannot get out of the policy which was not the case earlier when discussed. I am almost inclined to go to the consumer redressal forum with this and reclaim all the charges and investment on the amount.

Can anyone please explain what can be done with this now as it is putting your name in bad light. Customers like me don't feel very confident in the icici name now.

Best regards,
Jagjeet
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Jul 15, 2017
Complaint marked as Resolved 
ICICI Prudential Life Insurance customer support has been notified about the posted complaint.
Verified Support
Jun 02, 2017
ICICI Prudential Life Insurance Customer Care's response
Dear Jagjeet,

We have made a note of the details. Our official will get in touch with you.

Regards,
Team ICICI Pru Life
www.iciciprulife.com
Verified Support
Jun 14, 2017
ICICI Prudential Life Insurance Customer Care's response
Dear Jagjeet,

We understand that our representative has contacted you and assisted you with your concern.

Is there anything else we may assist you with?

Regards,
Team ICICI Pru Life
www.iciciprulife.com
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