I have annuity Policy No: 11486154 from the icici Prulife company after subscribed to FOREVER policy for a fixed Period. It was nice to see this company service till the policy expired for annuity. I used to get prompt reply to querry, reminders for payment, receipts etc. But when the annuity policy was issued for the first due date 22 Feb 09 payment to be done in march'09, the real devil in this company could be noticed. I had given ECS mandate to ICICI Bank for auto credit on every 22nd of the month. But the very first credit did not reach me in time. Several calls and mails evoked late response. Thereafter the regular payments were also erratic. The personnel there informed that it takes 3 to 5 days for ECS credit which is slower than normal receipt of Cheque by courier and encashing. This shows that the personnel employed do not have any knowledge the fundamental reason for ECS credit option is quick credit. Several mails were exchanged on this and the time given was 5-7 days. I took up the matter with IRDA and could get the problem resolved to some extent until In Feb-March No payment was given and i came to know that I have to fill in an existence form about which they do not even communicate like LIC where existence certificate reaches you well before. When I querried why they did not send the existence certificate, they informed that same had been sent by Courier but will take normally 10 Days to raech me. From this one can understand how efficient the personnel there for even sending by courier. If it takes 10 days, why there should be courier. ordinary Post will reach u in 2 days in Mumbai. (maximum). Finally i submitted the Existence certificate in April'10 and started getting annuity subsequently on 22-25 th of month erratically. Suddenly in December '10, no annuity was received and when I called the customer care, they informed I have to submit existence certificate. I went to chembur branch and filled in the form. At time of submission i was informed that i need to submit this only in Feb'10 having earlier submitted on April'10. They also informed that I will receive an intimation from the company for same. But i insisted on submitting the same without taking a chance. From above one can note that this is a foolish insurance company without knowing how to manage things. most of the time when u talk to customer care is spent on security checks which has no sense for Insurance industry. They just pass time and sometime will talk only to insured. When one is old drawing pension and essential for a living they harass the pensioner with all above security steps. Further where they are obliged to pay pension throughout life without refund of Principal, they prefer that the pensioner dies in the process of following up them for payments. My annuity is lifetime and this is waht I experience with this Insurance company. Moral: Never deal with this company. I surrenderd most of the policy i had in my family and left only with above policy.
0 comments