Complaint Details

Status	:	Closed
Complaint No	:	0007193/2013
Category	:	Insurance
Date	:	12-11-2013
Subject Line	:	Grievance against ICICI , Policy :16862297
Complainant	:	Deepak Kumar Panda
Address	:	Kaspate Wasti , Wakad
Complainee	:	ICICI Bank
Address	:	Near govt.hospital

Complaint Details
In Jul'12 , my mother's one of the policy matured and she withdraw a sum of 50000/-.She was willing to put the amount in fixed deposit , however she was approached by an employee of ICICI bank , who convinced her to open a new account which was some sort of "growth fund" which would pay more interest than FD , as described by the employee.My mother is not educated and hence couldn't go through the policy and trusted the employee's word for the same. However, she was sold a life insurance plan with a maturity date after 15 years. This was done even after she made it absolutely clear that the amount of 50000/- would be needed by her in the next year. Now after 1 year when she went to claim the amount , to her surprise, she was asked to pay 50000/- per year for the next 6 years as well and then after 15 years she can get the total amount and she won't get a penny now. I wish that she gets her deposited amount now and also a strong action should be taken against the agent. I have given the agent code in the beginning of my complaint.

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