I have taken a policy under ‘ICICI Prudential Assure Wealth – Plus’ from one of ICICIC's brokerage firms Netambit ValueFirst Services. The premium amount is Rs 50,000 and the sum assured is Rs 5,00,000.

The agent from Netambit mislead me with regards to the policy features. Many of the things he told me are not mentioned in the policy document. I have tried to clarify the terms & conditions of the policy multiple times with the agent, as well as ICICI customer care; but did not receive any satisfactory explanation. The agent told me that apart from the terms mentioned in the policy document, there are some special privileges given to me as my premium amount is high. But none of those ‘privileges’ are in writing, so it is hard to believe them.

Some of the points mentioned by the agent are below:
• I was told that the policy attracts nominal charges. But from the policy document it is clear that the first premium is deducted completely as premium allocation charge. This means that the surrender value after 3 years is approx Rs 1,00,000, against the Rs 1,50,000 that I will pay as premiums i.e. a loss of Rs 50,000. Additionally, there are fund management charges and policy administration charges which I was not informed of. The agent assured me that the total annual charges would be between Rs 300-400, but the charges come out to be more than Rs 2000 per year (second year onwards) and Rs 50,000 for the first year.

• I was not informed that the Guaranteed Addition (GA) amount would be accrued only from the 15th year onwards. And that I would need to pay 7 full premiums, otherwise the GA would not be paid.

Overall, I am very dissatisfied with the policy and feel that I have been cheated and deceived. Being a prestigious company I entrusted ICICI Prudential with my hard earned money, but this trust is now shaken.

I am planning to lodge a complaint with IRDA about this matter.

Vani Mittal
Policy # 13596455

sir I purchased two icici assure wealth plus policy (no 14078437 &14104766) It was assured by your people that the payment made through ICICI credit card will beconverted into emi. already 4 months have passed you have done nothing.kindly cancel both the policies with immediate effect and refund my Rs8620 paid to icici credit card authority towards interest. THIS MAY BE TREATED AS MOST URGENT> IDON"T REQUIRE YOUR POLICY > CANCEL THIS IMMEDIATELY>