1. I am holding the above referred policy for last 5+ years. Apart from this, I have 6 other Life Cover policy with your ICICI Prulife Organisation.
2. During the year 2006 all of sudden ICICI Prulife stopped collecting premium from my Bank Account Number: 002401000159 (ICICI Bank). When I tried to contact ICICI Prulife, they simply informed me that I should contact ICICI Bank and not ICICI Prulife. When I contacted ICICI Bank, the information what I got is, I should take up the issue with ICICI Prulife and not with ICICI Bank. After a mammoth task, I am told by ICICI Prulife executives, that due to error in the ECS form, ICICI Bank rejected the Monthly Premium (ECS). The height of the issue is, the same policy was active for last 5 years with the same bank under the same ECS process. No one ever told me the so called “Error”. God only knows what went wrong. Nobody was ready to explain or even as a courtesy tried to convince me. Result the policy went on Premium Holiday Mode – without policy holders knowledge.
3. I was pursuing this issue with ICICI Prulife at least 6 months. And during June,2007 I was asked by Mr. Amit Thakar of ICICI Prulife Ahmedabad branch to pay the entire premium amount at once which was Rs.16,500/- at no mistake of mine, I was forced and threatened to pay this amount immediately. I’d no other option but paid the amount to maintain my savings and life coverage.
4. During the payment process, I have requested them to ensure smooth process of ECS in future. And accordingly I’ve changed the Bank Account to an another ICICI Bank Savings Account Number: 002401001877 and submitted the ECS form hand delivered to Mr. Amit. He also assured me not to worry this happened in the month of June,2007.
5. Wait….. the saga not ends here…. Till today, the premium for the above policy is not being debited from my above new SB Account. Upon enquiring, again no response, all confusing statements. Again, I was ill-treated and asked to pay the premium at once. (Second time!!!) Upon inquiring, I was verbally informed by their Manager Ms. Bhawta Jagtap – Manager Customer Relations who met me personally along with one Mr. Saurav at my Mumbai office. She apologized for all the error and inconvenience caused due to the mistake done by their executives. In the meantime, I’d sent an email to Mr. Kamath. No response till today.
6. My request to ICICI Prulife is, I need to be compensated for the mental agony, in fact I was asked to travel to Ahmedabad from Gurgaon to execute the ECS (my family is living in Ahmedabad and they are joint account holders).
7. Why the investors / clients are being penalized for the stupid mistakes done by ICICI Prulife executives.
8. All said and done, I have decided not to leave this story like this, using my contacts and coordinates, I would like to raise this issue among all the investors forums, CII & FICCI and Parliamentary. I have already set the ball rolling as far as Gujarat Government is concerned.
They have touched the wrong person. I am not going to keep silent unless I am compensated and they make the policy active with immediate effect and I get justice from the Consumer Protection Cell.
PS: Read the Blog here: http://www.arjunprabhu.com/blog/archives/2005/04/27/icici-bank-a-bad-experience-for-many/all-comments/
This is prudent evident about the functioning of this organization. I’ve been requesting the contact details of Ms. Shikha Sharma of ICICI Prulife through Ms. Bhawta. Time and again, I’ve been ignored and they are not giving the contact details. This itself shows the ability and the ethics of this organization. I am also working for a international reputed Oil & Gas Industry, through which I’ve been dealing State & Central Government ministries. None of them avoided us for anything. This kind of behavior of ICICI Prulife, raises a question about their Business Ethics, and trust worthiness.???
Will you answer…….???? Give me a shout at any time.