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Complaint Details

ICICI Prudentail life insurance co. ltd

Posted byRoopa Ramprasad 
Organization / Product Details
Organization Name
ICICI Prudentail life insurance co. ltd
Product/Service DescriptionSmart kid - New Unit Linked RP (policy # 06247891)
Warranty StatusUnder Warranty.
Complaint Details
Reason for ComplaintCustomer Service 
Complaint Rating10(in a scale of 1 to 10)
Name of the Company EmployeeMahesh Kataria 
Complaint Details

We had taken Unitlinked Smartkid insurance policy from ICICI

Prudential Life insurance company on 29th Sep 2007 for our kids

(#06247891 & 06247892).

After the first year, from this september onwards we changed to term

of premium payment from annual to monthly payment mode. Though we

gave the application well before for ECS deduction, the company took

2 months of time to deduct directly from the bank. We had to pay

directly for the premium payment to avoid lapse of the policy. we had

to keep track why they hadnt changed it to ECS mode. No one was able

to give us clarity why the document process was being delayed.

Our nightmare with ICICI didnt end with this alone. When we checked

the unit statement, we were in a shock. There was a deduction of

Rs.456/- every month for the month of October and November under the

heading of Payor waiver benefit charges. It was Rs.430/-p.a for the

previous year. This was a fixed charge like service tax didnt depend

on any other charges to vary in such a manner. Since both the policy

have same features, when we checked we found that only in policy

#06247891 Rs.991/- has been deducted more. Where as the other the

charges have been correct.

We raised an issue regarding this on 17th November. (Call ID #

16475780). ICICI replied with the same unitstatement without any

clarifications. If i just needed a unit statement, i could have

directly got it from online, there was no necessary to raise an issue


Again we called up call center on 22nd , the person was unable to

clarify as happend previously, they said they will get back to us

with clarifications. (Call ID : 16514083). Again they sent the same

unit statement.

Again we called the call center on 25th November. As usual call

center person didnt knew the reasons, they said the same stuff that

some one from ICICI will get back to us. (Call ID # 16540097).
Nothing happened this time also.

I wrote an email to ICICIprulife at

seeking clarification on the payor wiaver benefit charges.( Call ID :

16500633). They keep sending some irrelevant responses.
Once i received a response that the deduction will 456/- per month

instead of per annum becuase we had changed the mode of premium

payment from annual to monthly !!!!. There is no mention of change in

charges in the agreement if we change the mode of payment. [ref: Call

ID#16552014 (Response from ICICI)] The person had replied without

even verifying their claims.

I tried getting clarity with their online chat facility. There also i

met with same response. The person didnt know why the charges were

applied and some one would get back to us soon. we received a

response stating that our sum assured has changed.But in reality

there has been no change except for the mode of payment.
(Call Id # 16510433).

We are really getting bugged as even the senior personnels whom we

contact, assure us the matter will be resolved (Mr. Jeffery and Mr.

Surabjeet) soon. But nothing happens. Even the consulting personnel

through whom we got the policy doesnt respond to our emails or

telephone calls.

We never expected such a pathetic service from a known institute like


Solution of your complaintICICI should resolve the matter within 3 days of time. Also made to pay some kind of penalty so that they do not repeat such behaviour in the future.  
ActionFile a case against them ! 
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