Greivance against ICICI Pru Life Insurance

Location/place: Ambarnath,Dist.Thane, Maharashtra

Name of company/service: ICICI Pru Life Insurance Co.Ltd.

I have taken policy no. 14578513 which is a long term policy for 10 years with a lock in period of five years. At the inception on 15/10/2010, I paid lumpsum annual premium of Rs.25000/-. I had the option of having monthly ECS payment at the time of renewal. After one year I exercised the mandate for monthly ECS mode of payment. For two months the premium was deducted and then a balance of Rs.20,840/- was deducted towards the annual premium. On being told, ICICI Pru was not willing to revert the amount so I told them to cancel my policy. For the last one year I have been writing to them but every time a standard reply is given that I should have cancelled during the freelook period of 15 days if I had a problem with the policy terms and conditions. I had no problem at that time and cause has arisen only after one year because they have not honoured their own terms and conditions for payment of premium. I am absolutely fed and have told them to cancel my policy once for all and refund my premium of Rs.50,000/- after deducting their charges however, they are not budging from their stand and are not admitting their mistake which is of a criminal nature because my money has been taken without my consent. Please help me in this matter and try to get me my refund.