I had paid ICICI insurance premium for a period of 4 years on 2003 at Bangalore for an amount of Rs.633/- monthly amounts to Rs.29000/-(Twenty Nine thousand)
Now I surrendered the policy and they say that they will deduct Rs.20, 000/-(twenty thousand) as surrender charges and pay me only 9000/- Rs which i feel is day light robbery.
The policy was lapsed on 2007 due to change in my bank account as its was ECS. The company never called or reverted to my calls ever to guide as how to proceed on the matter as i wanted to continue the policy with them. Now they are taking more than 60% of my money as Surrender charges which is atrocious.
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