Re- Refund of premium money paid with ICICI Prudential Life Insurance

With humble submission, I would like to draw your attention that I bought a scheme from ICICI Prudential Life Insurance Co Ltd (Policy no --13441999- Elite pesion scheme -II ) through an Authorised agent and I paid my first premium amounting to two lacs Rupees ( Rs 200,000) on 10.01.2011 through ICICI Bank ltd by Bank Draft and next premium was due on 10.08.2011. I would like to inform you that though the scheme is in my name but investor is my younger brother, who has been working in abroad. He came in India in January month in India in january 2011 and paid the amount for premium and all on sudden left for abroad in the last week of that month following urgent call. The matter I instantly informed the matter ICICI Prudential Life Insurance Co Ltd through the Agent. As he was not in country, I was unable to pay the next premium, which was due to pay in August 2011. I had no way to pay the huge amount in my personal capacity because I am working in a small private organaisation drawing low amount salary. The agent assured that the amount must be back or reinvested in another one time scheme with ICICI Prudential Life Insurance. But due to his inactiveness, I directly send email the company asking for refund the amount and told that if it was not possilble to refund the said amount ,then the amount be reinvested in another scheme in their concern. But in reply, they informed tht whether the request was not made in LOCK IN Period, the amount neither can not be refunded nor reinvested. I was really taken a back to their response and told that I was not aware of their such condition, either the agent furnished me or the company informed in written about lock in period time at the time of investing. I sent two letters with registered AD requesting to take necessary action but they were at their previous stand. Madam, still my younger brother is in abroad and I am unable to contact with him. The amount paid as first Premium is huge which is hard earned. If lost or forfeited, I will be responsible and answerable to my family for life.

This is for your attention and necessary action.

Mani Sankar Debnath
kolkata
mani_s100@rediffmail.com
12.10.2011

Hi

We understand our representative has contacted you and resolved your concerns to your satisfaction. If you have any further queries, please feel free to contact us athttp://www.iciciprulife.com/ipru/GrievanceRedressal.jsp

- ICICI Prudential Life