RE: Ref # Forever Life RP (UIN: 105N001V01) policy number 00381610.

First Reminder sent on 14-May-09
Second Reminder sent on 25-May-09
Third Reminder sent on 10-June-09
Fourth Reminder sent on 19-Jul-09

The following queries are not sorted out
1) Advisor is rude and keeps on threatening.

2) Services are not available from the Advisor (Bhagwati Chheda) for the change in address, premium receipt followup, payment mode by credit card, change in contact numbers,etc.

3) No Escalation of any email sent is available.

4) During Noc-Dec-2008, I have called Bhagwati Chheda on Mobile ********29 several times, but it\'s with no reply. My purpose was informing the advisor on change in address.

5) No reminder on premium payments for all the previous 4 years, since all your postal replies has reached me after the expiry of renewal date.

6) During month of May-09, the advisor has called from ********29 and replied unprofessionally with my spouse.

7) No answer on the accumulated amount, details on Surrender value, Loyalty addition, bonus, risk covered for the years 2009, 2010,2011,2012,2013,2014, 2015,2016,2017,2018,2019,2020,2021,2022,2023., with and without premium continued.

8)As per previous Emails, the surrender value is not justified based on the calculation below

In previous Emails, ICIC replied with The Surrender value = 35% of total premiums minus first premium + Bonus
Total premiums paid till now = 61170
As per your formula, Surrender Value = [35% x (61170 – 10195)]+ Bonus

Bonus in Mar’2006 = 32455.06
Bonus in Mar-07 = 8204.79
Bonus in Mar’08 = 7819.80
Total Bonus = 48479.65

Accordingly Surrender Value = [35% x (61170 – 10195)]+ 48479.65 = 50975

The previous reply of 14-Mar-09 Notifies me with Surrender value of Rs 30433/-

Year------Surrender Amount ******Cash Value of Guaranteed Additions (in Rs.)
2009------- 30,433***************12594
2010------- 38,234***************16,604
2011------- 44,554***************19,319
2012------- 50,970***************22,130
2013------- 57,483***************25,058
2014------- 64,099***************28,049
Surrender Amount (in Rs-inclusive of cash value of Guaranteed Additions)

Overall my attempt is the communication to ICICI Prudential on its services, its dissatisfaction, lack of response from advisor, its rudeness in replies and non-availability of customer friendliness. Please note that I have all the Emails communicated to ICICI Prudential since year 2005.

This clearly shows that “I am cheated and misguided with this ICICI Prudential Policy and the Advisor has tempted me to pay 6 premiums”. …Also I remember very well, that the Insurance Advisor informed me during opening of this policy that the --- Sum assured amount will be paid on maturity along with the pension for every year, without any uncertainty….

Finally, the act of rudeness and call hung up from Priya Dixit, with todays conversation is un-professional and not acceptable. The call is received on 27-April-09 at 15.59 hours from Landline No ********.

The reply copy of Email is pasted below. ICICI Prudential is not ready to comply the point wise reply. This is cheating to the community.

Question to Reader > Does anyone know the resolution on this? IRDA also failed to reply on this issue.
*********************************************************
From: nikesh.jyoti@iciciprulife.com [mailto:nikesh.jyoti@iciciprulife.com]
Sent: Monday, July 27, 2009 10:19 AM
To: js2005k@yahoo.com; sk2008it@gmail.com
Subject: ICICI Prudential Life Insurance Company Limited

Dear Mr. Kankal,

I refer to the email dated July 19, 2009 regarding your Forever Life (RP) (UIN: 105N001V01) policy number 00381610.

I wish to assure you that your complaint has been re investigated thoroughly and we abide by our earlier decision communicated to you via e-mail dated June 20, 2009 and May 26, 2009.

Hence considering the below mentioned facts (please refer e-mail dated May 26, 2009), kindly note any changes to the policy would be as per policy terms and conditions.

For any further assistance, please contact us on our customer service helpline number 1800-22-2020 (MTNL/ BSNL toll-free) or you may also write to us at lifeline@iciciprulife.com.


Warm Regards,

Nikesh Jyoti
Manager - Customer Relations

ICICI Prudential Life Insurance Company Ltd I Direct: +91 (022) 6717 8443 I Fax: +91 (022) 6710 0805
nikesh.jyoti@iciciprulife.com
I www.iciciprulife.com
I
Vinod Silk Mills Compound, Chakravarthy Ashok Nagar, Ashok Road, Kandivali (E) Mumbai 400 101
* Insurance is a subject matter of solicitation.
* In ULIP policy, the investment risk is to be borne by the policyholder.