Respected Sir /Madam,
Sub: Policy # 14356980 icici pru lifestage pension Ad complain
I am having relationship with icici bank from last 8 years with my salary account in icici bank and all housing loans from icici bank.
I will like to bring to your notice about the product "icici pru lifestage pension ad" this was posed on me in the year 19th Aug by one of your fund manager in "ICICI bank Lallpur Ranchi branch".
I visited this branch when I returned from Outside india in the month of august.i disclosed to fund manager "Abhishek Tiwari" that I want to invest in decent product in which I do not have to follow up regularly for e.g. paying premium but I am going to pay lump sum 6, 00, 000 INR.He mentioned that in 5 years this amount will be doubled and I do not have to pay anything after this payment of 6, 00, 000.
I paid the amount on same day via icici bank check #761158 to the icici bank amounting to Rs 6, 00, 000.
out of this 6, 00, 000 fund manager allocated 3.5 lakhs in various money market like HDFC mutual fund, Icici pru and kotak and rest 2.5 lakhs was invested in icici pru lifestage pension ad.
I was clueless of real investment and their relation with each others.
In cover of money market I was put in dark about terms and conditions of "icici pru lifestage pension ad". Fund manager did not disclose properly that premium amount has to be paid in regular yearly premium.
additionally "icici pru lifestage " kit was sent to my home address "Ranchi" though I work and live in "Pune".i was caught unaware of terms and condition of icici pru lifestage plan.
there was no communication from fund manager regarding the investment made by me and I was convinced that icici bank is there so my money and plan is full proof.
only recently I received the reminder call for the icici pru life stage plan which caught me in cross leg. After that I followed many times with icici bank lalpur Ranchi branch .but over phone I did not got satisfactory answer and the person who was responsible for fund management has left the branch to ratu road ranchi icici bank branch.
i was left on the mercy of personal touch with the person with no valid email from icici bank but communication over phone.
kindly note that i will not able to continue with the premium payment further for the" icici pru life stage pension plan " as this product was wrongly marketed with highly unmanageable premium allocation (INR2, 50, 000 per annum). I guess fund manager has not done his homework and was interested in receiving INR 6, 00, 000 lump sum.
kindly initiate the enquiry.
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