Complaint Details

Status	:	Un-Resolved
Complaint No	:	0061886/2016
Category	:	Insurance
Date	:	27-05-2016
Subject Line	:	Refusal to payback full amount due to me on maturity of Policy no 00780992
Complainant	:	E A VIMAL NATHAN
Address	:	23 BPC TOWER, 1A ALTAMOUNT ROAD
Complainee	:	ICICI PRU LIFE CO.
Address	:	No 1089 ICICI Prulife Towers 1st Floor, Appa Saheb Maratha Marg, Prabhadevi, Opposite Tata Motor Showroom Near Century Bazar (Map)

Complaint Details
My ICICI Prudential Life Insurance bearing No 00780992 had matured in March 2014.

I found out recently that the above policy has matured and approached their branch in Jameshed’ji Tata Road, Churchgate, Mumbai and submitted the Policy in Original with other relevant requirements such as cancelled cheque, Passport, Pan Card copy and Discharge Form under compulsion from the officials and sought for settlement of the money due to me. During the discussion they stated that ICICI Pru Life will not refund the full amount due to me as at end March 2014 alongwith Interest but only 1/3 of the amount will be paid with an option to choose one of the many pension schemes as per the print copy submitted to me by their office. They mentioned that they will pay annual amount of around Rs 9082 p.a every March to me.

Based on this they have made a payment of Rs 62503.19 on 10th February 2016.

I would like to mention the I am in urgent requirement of the full money due to me as I have to meet the expenses to get my daughter married and this will be useful to me at this crucial juncture.

I was not interested in any pension scheme as indicated by ICICI Pru Life officials and requested for full settlement. To this they have refused and paid 1/3 amount in February.

I would like to mention I want the full amount due to me alongwith Interest for not settling the same in March 2014 when this Policy matured.
Further, I want compensation for spending so much time in writing to their Online Customer Relations and Ombudsman at Santacruz. I would have written atelast over 10 emails/ lodged complaints at three different levels including the Ombudsman.

Further as promised by them they have not paid the annual amount due (as per them) to me in March 2014, March 2015 and March 2016.

I am not confident that the my money safe with ICICI Pru Life and I have a feeling that they are playing around with my money.

I request for instructions to ICICI Pru Life to settle my full amount of Rs 1,74,029.56 due to me in March 2014 along with Penal Interest and compensation for wasting my precious time.

Thanking You,
Yours Faithfully,
E A Vimal Nathan

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