Ashok R Nair
Card Protection Plan

Card Protection Plan in principle is issued by ICICI Lombard. I was registered for this plan by ICICI credit card, A premium of Rs 1188/- (Rs 99/pm for 12 months, 0% interest). When the plan was issued, the Basic premium was total Rs.612/-. Question then arises, what about the rest 576 ruppees. Which is 94% of the premium for the actual insurance amount. It appears this charges is taken by the credit card company. Which they do not mention during giving you this policy. And mind If I understand them rightly they will give you this policy only through phone banking. And Lombard will not give you directly. I fail to understand the charges, what this charges are and under what heading that is collected. They had clearly mentioned the the policy will be given by Lombard. Then why this charges, only for selling this policy. Sorry, It is not digestable. And that too more than 94% of the basic premium (with service tax).

I think ICICI Bank is fooling people, without providing complete information.

And when called, they are quite rude, and says if you want you can cancel it. Why should I cancel. I want accountability of the rest of the amount above the basic premium.

Company: Ashok R Nair
Country: India
State: Gujarat

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