India InfoLine
ICICI Prudential Life Stage Assured

I received a call from India Infoline offering a plan in which I would get "assured" return of @13.7% p.a. and was explained in details with an example. If I plan to invest Rs.30, 000 per year, my example would be as follows :

1st yr - 30, 000

Interest earned @13% - 3, 900.

Total Value: Rs.33, 900

2nd yr. Add 30, 000 = 63, 900

Add Int.@13% = 8, 307

Total = 72, 207

and so on till end of 5 yr. scheme my assured value would become Rs.2, 19, 679/-

Now since i have been paying in the scheme, the co. would further add @125% of the 1st yr. premium i.e. Rs.37, 500 as bonus. Making the total value of my investement to Rs. 2, 57, 169/-

This looked very attractive since it was much higher assured return anyone can get today.

So their representative, Mr. Sanjeev Kumar visited me to finalise the plan.

When i demanded the "assured" scheme to be shown me in writing or in ICICI prudential's brochure / leaflet, he could not. But, instead he wrote the whole plan on a piece of paper which he had brought from his Delhi (Kakarduma) office claimed to be written and given to him by his seniors (Mr. Kunal) there.

I smelled something fishy and so interrogated him. After some talks with him, his senior Mr. Kunal (on tel.) and Ms. Lata (Delhi - on tel.) it became clear that they were trying to cheat me by showing wrong figures and calculations.

What action is possible against these culprits under these circumstances. And is ICICI pru people not aware of these malafide practices their agents adopt so as to boost their sales!!?

Company: India InfoLine
Country: India

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