ICICI Prudential Life - Never Take Their Policies. Review on ICICI Prudential Life Insurance

I bought ICICI Prudential Life Insurance Co. policy name ''Lifetime'' - Policy No. 00170557 in July 2002. The guy/agent who sold me the policy after selling me the policy never showed me his face again. So every quarter I kept on going to the ICICI's office in Lucknow to deposit my cheque. Since the lock-in period for this policy was 3 years - so I had no options but rather wait for 3 years before I could surrender my policy and get my money back.

So the time came after 3 years of waiting. I surrendered my policy on August 1, 2005 to their Lucknow office. They took the original documents, and gave me the receiving on the photocopies; and assured me that I would get my cheque within 7 days. After passing of 7 days, I called their customer care number. I was shocked to hear that they had not received any such surrender application from me. So I thought I had wait for another 4-5 days (could be a delay in reaching documents to their head office or so). Again I called up their office after waiting for 5 days - but again this time they told me that they have not received any surrender application from me (while I had the receiving of my surrender application of August 1). So this time I lodged the complaint of the same on their customer service telephone number. After waiting for 3 days I got a call from ICICI's Lucknow office that I should take the copy of my received application to their office again - because they had lost the originals. So on August 16, 2005, I went to their office in Lucknow again, and once again they took the photocopies of the photocopy that they had given me on August 1 ; and once again assured me that I would get my cheque within 4 working days. Since my Policy was Market Unit Linked - the stock markets were doing quite well that time - hence my surrender value was quite high. TILL TODAY (Now September 5, 2005) I AM YET TO RECEIVE ANY CHEQUE from them.

Now I am comtemplating to go to the court to get my money from them. I think they are CHEATS and just like any other FINANCE COMPANY (who ran away during the late 1990s era).

Never ever take ICICI Insurance Policies...they are only good in taking payments, and reminders for the same....