I had taken a Life stage Pension Policy no 08884562 for an amount of 50, 000 Monthly for three years. Recently I received a letter from the office saying that my plan is foreclosed due to non remittance of premium. I could pay only 8 premiums and the total amount accrued in my name with ICICI Prudential is about INR 400, 000.00.
Since it was foreclosed I requested the office to pay back whatever money is deposited in my account as my pension plan is null and void. Then they told me that the amount will not be refunded since I have not completed even 1 year.
I am a salaried person and this happened because of sheer misguidance by the agent who booked the fund who didn’t tell me anything about such consequences if I discontinued to pay the premium. Since it is a huge amount for a salaried person. These agents just for sake of closing the business, hide many of the matters which affect us and close the deal.
I have written three time to the grievances cell but have received no reply yet. My sincere request is that never opt for ICICI prulife pension plans. You plan for saving some money for the future and for your retired life but even your principle amount is being eaten by these companies. They are cheaters