Icici prudential life time gold
Life Time Gold - Policy 09919402 - Conversion to single time payment/premium

Life Time Gold - Policy 09919402

Sub: Life Time Gold - Policy 09919402 - Conversion to single time payment/premium.

There is problem with my Life Time Gold - policy no. 09919402

1. Policy was issued on 15/09. It was issued by ICICI Bank, Indiranager

Branch, CMH Bangalore. I have already paid 1st premium of Rs.300, 000.00

2. Policy was issued by person Laxmi Sharma. She did not explain properly -I

was under impression it is single time payment, so paid Rs.300, 000.00.

However after few months came to know every year I need to pay

Rs.300, 000.00 for next 2 years. This is huge sum and is absolutely

impossible for me. Laxmi did not even explain about premium allocation

charges.

3. I called up Vinod Naik within 2 months (oct), who was prudential in

charge that time. He assured me it is possible to convert to single time

payment, to raise request during next premium payment which is

15/sep. Compaliants have been raised 5 times.

4. Now when I approached prudential office they say raise this issue through

help line. I cannot pay any money for next premiums. Myself a salary

person and at present quit job due to spinal cord problem.

This kind of improper explanations to customers by ICICI staff at time of buying

policies really puts people like me into hard spot. This reveals darker side of

ICICI to lure people into false investments. We have lost faith in ICICI. People

like us do not understand finance, ICICI staff don't have patience to explain in

detail about policy.

I need ICICI to convert this policy to single premium with no insurance cover and

premium allocation charges, otherwise refund my hard earned money.

In case ICICI do not comply this, my only alternative is to escalate this issue to

Banking Ombudsman, CEO of ICICI and publish about corruptness of

prudential in media.

Company: Icici prudential life time gold
Country: India

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