ICICI ASSURE WAELTH
MISSELLING

Sir,

Details of complaint is appended below in the form of letter addressed to ICICI. on every approach they tell that case is under investigation. 45 days past no refund received.

Pl help.

Aug 17

From,

Gurvinder Singh

H. No 243, Phase II

Karnal

To,

The Branch Manager (Through Karnal Branch)

ICICI Prudential Life Insurance company ltd

II floor, Harsha Bhawan, Unit No. 13-29,

Block No. E, Circle D, Cannaught Place

New Delhi 110001

Miss-Selling of insurance policy

Dear Sir,

The following is brought to your notice for investigation and action please.

(i) Your corporate agent Vighnahanta Direct Broking, Pusa road, New Delhi, approached me on 26

Jul 10 (form telephone no 01165658884) stating that I have been selected for a special offer on

insurance scheme from IRDA, through your company with the following features.

· Term period of 5 years.

· Rs.6000/- cash back every year on a premium of Rs.30, 000/- PA.

· On maturity 120% guaranteed bonus of 1st year premium.

· Maturity benefit of Rs.2, 31, 412/- on completion of 5 year.

· Insurance of Rs.3, 00, 000/- with riders of Rs.1, 00, 000/-, Rs.6, 00, 000/- and Rs. 9, 00, 000/-

for Medical insurance, Accidental Insurance & Accidental insurance with Govt. vehicle

respectively.

· Tax free Partial withdrawal after 3rd year & Benefits U/S 80C.

(ii) On being inquired as to why this policy is not available through local branch, I was assured

that this scheme is available to some selected persons only. It was also assured that I will receive

bond within 15 days of submission of my application as per details mentioned above, otherwise

policy can be cancelled within 25 days of receipt of the bond.

(iii) On their advice, I applied for a policy named Assure wealth vide your application no

LL39404137 dated 26 Jul 10. The entire relevant document such as ID proof, Copy of Ration card,

Address proof etc duly signed by me and a cheque was handed over to Mr. Praveen Sharma

(Mobile no 9953494137) on 26 Jul 10.

(iv) I was tracking my application through your customer care and this agent regularly. In

between, whenever I approached this agent and I was assured of their commitment. I have the

details of all conversations done with them.

(v) On 13 Aug 10, when I approached customer care I could found that my policy derails were

different than what I was committed by agent. My ID proof was missing, my contact details and

address was also mentioned wrong. I got the contact detail corrected through customer care and

as per their advice; I approached your regional office for further clarifications. I find myself a victim

of fraud and miss-selling done by the agent.

(vi) I approached agent again and apprised them about the details. I was told that the very

agent, who rendered detail of the policy, is on medical leave and they are sorry about the

misguidance to me. On being told to put up the complaint of the case, I was assured that they will

fire the agent and nothing else they can do.

(vii) Now I feel that I may not be the first victim. Many other people might have been facing

the same incidents. Kindly take action against your corporate agent so that the other people are

mot made victim by them. The address of this agent is:

Vighnahanta Direct Broking

Plot no 26, Block 34,

2nd floor, Nai wala Estate,

Western Extn., Near Metro Station,

Pusa road, New Delhi

(viii) I approached your karnal office to cancel my policy and refund of amount. I was informed

that the policy is already in force and can’t be cancelled as pre issuance. This is a clear cut case of

fraud done with the help of your branch. It needs investigation on the following lines

· The login person entered the details in data base at your branch.

· Why the supporting documents were not verified while incorporating the policy

details by your branch.

· If the documents were missing then why the details were entered in data base.

· How the policy has come in force without proper documents & verification.

· Did your company have counter check against such agents and approach customer

before finalizing policy. If yes then why the SOP not followed.

(ix) Kindly refund the entire amount together with interest till the date of refund, failing

which I will approach the honorable court for justice. Further Media will also be approached for

exposing this fraud.

(x). Application for refund has already been submitted on 16 Aug 10 to your karnal branch.

Thanking you in anticipation.

Yours truly,

(Gurvinder Singh)

.

Company: ICICI ASSURE WAELTH
Country: India
State: Haryana
City: Karnal

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