Jun 28, 2008 06:15 PM
12251 Views
Having a salary account with ICICI Bank and satisfactory levels of banking services prompted me to go for a life insurance policy with ICICI Prudential. The day I signed off for a policy, became my day of worst mistake in my life, that not only showed how companies like ICICI try to hide frauds committed by its own agents. Here the Story goes(as also told to lifeline@iciciprulife.com but without any result even after 9 months:
End May 2007 I applied for a term insurance plan for an amount of Rs. 15 lakhs to cover my extended family on the occassion of arrival of a new baby. The policy was obtained from a door to door policy agent based at Karnal who claimed with all its cards and references as "authorised". The agent was indeed authorised as a few colleagues had obtained policies from this company. After waiting for a month policy was received by me and cheque was debited from my account around the same time.
On receiving the policy I found out that the policy I requested was a term policy without premium returns(a pure insurance plan) but the policy I received was a term policy with return of premium. Obviously the cover got reduced to almost half at around 8 Lakhs or so. Initially I thought there would have been some mistake on the part of ICICI and I would get it corrected within free look period. On care ful examination of the policy application paper, photocopy of which is attached with the policy document, it came as a shock to me that the application for was completely changed i.e. it was not the same application form which I had signed off. Although my names and particulars were alright but the policy type had changed and some signatures were done on the document which were not mine. This was a fraud by the agent or within ICICI I do not know.
However I talked to ICICi on phone a few times but then they said that freelook form had to be filled and I needed to go to a branch. However on 07.07.07 I went to their branch in Panipat and filled a form(within free look period) and on insistence of their branch people I did n't lodge a complaint against the fraud. They promised me after accepting the freelook period change form that they would look in to the matter and issue me my desired policy.
Owing to domestic compulsions I couldn't follow up the case. Although I did receive a call while roaming that got dosconnected due to network problems but then it was the only call. Finally I spoke to their people in Panipat & in Karnal and also sent them messages but then things couldn't be resolved until Feb'08.
I also made a complaint id 7342991 later on but no action was taken. But ICICI didn;t stop there, now they have requested me to deposit premium for the policy I never asked and was duped to get into. Further the changed policy document was never received by me, but their premium request was delivered in time. That shows customer complaint system is near dysfunctional and thank god I know this now. Had my family required their help in case of any mishap they(ICICI) would have cared in the similar fashion to my family. It also shows that all their blah blah on advertisement is mere drama to attract potential insurance seekers who can be trapped.
I can only share what has happened without any prejudice to any body's impression of ICICI Prudential. Even today I have sent a mail to lifeline@iciciprulife.com on this as I write this.
Best Regards,
Vikrant
