ICICI Prulife – Non Compliance of Policy Liquidation

ICICI Prulife Complaints & Reviews

By: MohammedZaman

I hold a ICICI Pru Lifestage Wealth II policy No.18084496. This was taken during 2013 from Mr.Naveen Yalamurthi, who as a Senior Financial Manager at the time. Coordinated by Mr.B.A. Maruthi, senior consultant.At the time of taking policy it was clearly explained to him that this investment was monthly investment and funds should be available when ever it as required.As my husband just retired from services and we may not have access to extra funds. It was more of obliging the Executives request. Which was agreed to by the Manager. I signed the forms and issued a cheque for Rs.60,000/. Soft copy of the agreement or policy I believe was sent by mail to me and I have not received any such document so far. I got a message to get net asset value on 15/4/2017 was Rs.2.72 lacs, in reply to my query.Since I was need of urgent funds, I visited office of ICICI Prulife Office in Malleswaram, Bangalore.There I came to know thru customer care Executive and later thru Manager In- charge that this policy can’t be withdrawn now and wait till 2018. And if I don’t pay this years installment by due date, policy will be nullified and no interest will be paid and funds will be refunded only in the year 2018. This is quite shocking and when we took a policy with you with conditions of funds availability at required time, this news put forth by your staff was quite shocking.( And please ask your executives to mind and improve their language and behavior.I thought customers are important to you). Now I am presenting this case to you and look forward to your solution at the earliest. I need this funds urgently and please transfer the same to my Bank Account as per records.Since this urgent SOS, please revert as soon as possible. As already explained Mr.Naveen Yalamarthi and Mr.B.A. Maruthi are the people who know the background of this case. Looking forward to hear from at the earliest. Thanks and regards Mrs.Parveen Zaman