I have a policy with a premium of 3Lakhs per year and it was paid for 3 years and in paid up status.
Then an ICICI advisor and one ICICI employee came to see me and convinced me to shift all that money into another policy saying I will get better returns and its only a one time payment of 10L and it will be in paid up status. Now I am getting letters that I need to pay 10L premium otherwise it will lapse and I get only 25% of my original 10L investment or need to pay 20L to keep it in force.
ICICI is a fraud with useless advisors who dont even know anything about insurance and also fool customer and make sure they cancel so they can get 75% of premiums paid for free for termination.
This should be stopped before they fool people to inflate their profits
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