Do I redeem my ICICI Prudential Life Stage Assure which is not paying my 1st year premium ?

POSTED BY yelisevc ON October 26, 2014 2:39 pm NO COMMENTS

Hi, I’m an investor in the ICICI Prulife – Life Stage Assure Policy and am terribly disappointed with it. I have actually been misled by one of its agents to invest a huge amount in this farcical policy. My Investment details are as below 1Lakh per annum premium Paid 5 years of premium and therefore I believe am past the Lock in period. Now, when I\’m contemplating complete redemption of my policy, I\’ve been subjected to another shock by ICICI Pru folks, who say that I would only be given the current fund value  which is the value of 4 premiums that have been invested and excludes 1st year\’s premium which hasn\’t been invested.

I\’m terribly disappointed that I’d have to fore go 1lakh rupees of my hard earned money even after paying the requisite mandatory 5 years of payment. The only reason I paid 5 years of premium was with a hope of not losing the 1st year’s premium which quite substantial amount. Kindly advise if I indeed have to fore go my 1lakh if I choose to redeem my policy.

Also advise, if its worth redeeming the policy now (despite foregoing 1lakh) or would suggest staying invested in it.   Thanks in anticipation of a wise advise Vishwa

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