Icici prudential life insurance company
Hike in Insurance premium and company not able to substantiate

I would like to bring to your kind notice regarding a change in monthly premium amount for my Insurance Policy number 00159212 which has been taken from ICICI Prudential. I started to pay this premium from month of July till June through monthly ECS. An amount of Rs1546/- was getting debited monthly till june and I was not a defaulter for even a month. Previous month I opted out from ECS as I closed that bank account. Then a new premium notice has been sent saying my premium amount has is 1625 (1609 16 (Service tax)). I went to Koramangala Branch- Bangalore on 20June09 to check why this hike has come, but they were not able to give a proper response at that time and told they will revert back in two days. After two days, as I have not received any response I opened a Complaint (Call ID # 18892220) through email, but each time they say two days and then after that I was told I need to wait till 01July09. I am not sure why this much time is required for checking a hike in insurance policy and for any insurance policy the insurer is supposed to pay the amount that is stipulated in the policy document and I have not change the period of payment. How can an insurance company hike my monthly premium amount with only their discretion and is not able to give a proper reason substantiating it for the increased premium? Kindly treat this concern and would like further suggestions/actions from your part.

I kindly request you to treat this grievance and take necessary actions from your side for the negligence and irresponsive behavior from Insurance Company.

Company: Icici prudential life insurance company
Country: India

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