Auto renewal of Term insurance even though I didnt wanted it

POSTED BY Kirubakaran ON September 9, 2014 5:26 pm NO COMMENTS

Hi Geeks,

I have taken ICICI term insurance 3 years ago and I am paying the premium on Aug month. This year I did not want to renew as I have taken new term insurance plan with Reliance.

In Reliance term insurance, I mentioned that I have taken ICICI term insurance but going to discontinue that.

But this year, ICICI taken money from my credit card in auto-pay option and did not notify me upto 2 weeks. Then I later found out that one.

My queries are,

1) Is there possibility to credit back the money from ICICI ?

2) Will the Reliance term insurance be void if they come to know about the ICICI renewal policy ?

How can I cancel the ICICI term insurance and return back my money. Please help me on this.

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