ICICI Prudential Life Insurance Company Limited - Not satisfied with the product of the Company who duped me fraudulently.
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Complaint by: E V DASAN on November 9, 2013, 1:11 am in Insurance All

Policy No.: 02027951 of myself, E.V.Dasan fraudulently sold by ICICI in the year November 2005.

This has reference to the policy, which was fraudulently sold to me by the Bank Manager, Federal Bank Ltd., Cherupuzha Branch, Kerala, by duping me and my interest, stating that it was a Recurring Deposit scheme with life insurance cover as the bankers had tied up with ICICI. Later I came to know after few months that it was a pure life insurance policy issued by the ICICI Prudential Life Insurance Company Ltd. There was nothing in relation with the Recurring Deposit Scheme. Sir, this was not really a clever scam, but I fell for it, without proper knowledge of the scheme, which was to be explained by the Bank Manager, to whom I approached for a personal loan and he wished me to get joined in this scheme for getting me loan reimbursed. This is not a proper way of business, but I fell into this scam by mistake.

Sir, I have already sent the original policy for cancellation to ICICI Prudential, Mumbai Branch on 02nd of August 2012 and till now I am fighting for refund of my entire premiums of Rs.1,25,000 (5 installments in monthly of Rs.25000) with penal interest for duping the customer. But a vain attempt. The company along with its MD, Ms.Chanda Kocchar too, has stuck to the final result that they won’t be refunding my premiums. I have made multiple emails and telephonic correspondences to them, but all of no use. They have still kept the original policy too with them.

Thus, these ICICI guys are engrossed in cheating and harassing me not only from the time of investment i.e. since inception, but also at the time of refunding my hard earned money paid to them as premiums.

Sir, I would like to seek your kind help in this matter so that my premiums is refunded by them. Please do help me to sort out of this big problem.

Complainant's Goal: Refund of my entire premiums along with penal interest
Complaint Location: IndiaKeralaKannur
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Recent Comments
Fri, 17 Jan 2014  Salil Kumar Adv


I have seen your grievances as a consumer ….. you can surely approach the district consumer forum for appropriate remedy .
If you need any further help, please feel free to contact me :
MOB : ********29