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ICICI Lombard / withdrawal of icici lombard loan care insurance policy

1 India Review updated:

I had foreclosed my ICICI Home loan LBTRI00001165829 and LBTRI00000650151 and I had given an application to cancel the ICICI Lombard Loan Care Insurance Policy, attached to the same, on 25th August 2006. The premium charged on this policy was Rs. 30105. I have received a payment of only Rs.1887.00, for the cancellation of the policy and I believe that, this amount is calculated based on only the top-up Loan - LBTRI0000116582. I request you make the necessary arrangements for cancellation of the Policy attached to the Base Loan - LBTRI00000650151. I have already given the proof of the foreclosure of both these loan.

I believe that arrangements will be made at the earliest. This issue is pending for the past 8 months.
I have been calling the concerned person in the ICIC Lombard office at Trichy, and I have not got any solution for the issue till now. Very poor service!

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  • Ku
      4th of May, 2007
    0 Votes

    One policy was issued to me in the month of June, 2005, which was cancelled on my request. Charges deducted from my credit card and again credited to my account, but another policy was also issued to me in the month of June 2005, which was not in my knowledge. When I contacted the office for the dues against my credit card and known that one policy was issued to me. I requested many times on phone to the office, but no satisfactory answer was received.

  • Sh
      12th of Sep, 2008
    0 Votes

    Don't do any deal with ICICI. Its a fraud. We have take insurance on our loan amout.
    We were ready to pay lumsum amount, but they convince us to pay based on monthly basis, w/o telling us that it will be charged at 12 % floating interest, which later increased to 14 %. Also, its being seven months now, that we have not recevied our policy, though EMI is deducted every month from our bank.
    When we enquired, we came to know that policy is made on some other property, which is not ours. When tried to contact the concerned person, he dosn't pick up the phone.
    In brief: Before taking insurance they will call u 100 times, to take a policy and fool u giving all fake advantages and later they won't respond at all.

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