ICICI Prudential iProtect Term Insurance Review

I have purchased an Iprotect policy on 25 aug and since then there has been no reply from the ICICI staff. Whenever I call the customer support, they say that they would respond in 24 hours and in the end it is me who is calling them again and again.

Anyone planning to by this policy should think twice before investing there money.

Vikas Khanna

Great…. this is just the start of the relationship with ICICI for Vikas, one can imagine how much hassle one has to go through in case a claim needs to be settled !! Yes, think twice !

all these policies are for people of selected cities . no one is concerned about people living in villages and towns . it seems that life of people living in cities is more precious than other ones.
please suggest some good insurance plans for people through out country
thanks
deepak anand
palampur
himachal pradesh

can some one explain the iprotect plan to me, lets say i insure myself for rupees i crore for 30 years and live through it what happens after the policy term is over. what do i get after 30 years. i found it no where. please mail me the answer to my mail please.

I have term insurance of 15 lac in LIC but i want to switch to ICICI PruLife iProtect because it has less premium.
Is it a good idea?
Should i mention LIC policy details while filling iProtect form online? What if i do not mention LIC policy number?

Thanks
Amit 27. Only one premium paid for LIC Policy

I purchased ICICI iProtect online on 22nd Sept…..payment done. No communication from ICICI Prudential yet. Perninally visited branch – the system does not have any record of the application number I provided.
Looks a scary service to begin with.

dear sir/madam, i m neeraj srivastava age 33 resides at lucknow. i want to know that what premium will b charge if i take rs 30 lakh cover and same amount as a accidental rider from IPROTECT. Plz send me details on my email soon.thanks n regards.

Dear All,

Recently ICICI Pru Life had launched a online policy called iProtect where you can buy this insurance product without any advisor and thus you can save lot of money on the premium payment. They call it as a first of its kind policy in India. I lured by this and bought this product online by paying the premium Rs.2356/- for 12 Lakhs coverage. My application number is# OL00031197. I bought this policy on 30-Sep-2010 and I have got a mail saying someone from the nearest branch will collect the necessary documents before issuing the policy. But till today no one had contacted and I had sent around 30 Mails to customer care, grievance rederessal team but no response from them.

It clearly shows that ICICI had come up with the very good fake insurance product just to loot the customer money. This is a classic case of Corporate robbery.

I advise all the readers not to take this policy… Instead of taking this policy you can donate that money into your nearest temple Hundi / Charrity.. Atleast you and they will be happy.

Kindly call me at mobile 8124676122 before you make any decision.

I agree with you Siva Kothai. Even I m going through the same phase. I had applied for icici pru iprotect plan I for 40 Lakhs on 16th september 2010. One month have passed but till now I haven’t got policy. Two three times I have called there customer care. they are taking my complaint but nothing is happening. whenever I am asking for the status of the policy they are telling me that it is on hold with underwriters.

i read your police but not found any details about survival benifit on complition of the policy. kindly post the details to my mail.

I agree with the above comment. I paid for the iprotect policy on 4th Oct 10. Post my followup they had completed the medicals. After that there was mail saying the local agency of their’s would contact me for document collection. No response…i went and submitted the documents in the nearest branch on 19th Oct. Now the call center person is saying IUW is pending…and somebodty would contact me to get it completed. No response till date.

I see this as a public robbery and planning to initiate a complaint withj IRDA and police if things doesn’t move.

I stronlgy recommond the new buyers of this policy to be careful and refrain from choosing ICICI.

I am looking for Term Insurance from ICICI Pru. for 25 lacs for 20 years. I want to understand the riders like Disability Benefit, critical illness and waiver of payment. In case of any of the above eventaulity I want to understand how and what amount my family will be getting. Will it be 25 lacs full or some percentage of 25 lacs.
Sorry to say but none of the representatives from ICICI I have met sofar have been able to give clear idea till date.

It’s been a month since I paid the premium in full. Those people collected document TWICE and everything is still pending. The email support is terrible as well, as they do not answer for 5-6 days.

Being a victim, I will strongly advise AGAINST it. If they are this bad in just issuing the policy, imagine the unfortunate scenario of claim.

i am also planing to buy this plan but after review written here. i drop my plan. recently i buy aegon reliagare iterm plan. every thing goes fine i made payement. for document submitting. they said some will come to your home nobody came. i called their customer care and write by email. email service is good. they told me to send document by mail after scanning. i sent them after one week i got my policy. i thing aegon is lot better e mail support is better than phone support.

I purchased ICICI iProtect II insurance policy at iciciprulife.com. I’ve taken all the medical tests and submitted the paperwork. It’s been two months and I have not been issued a policy. Calling the helpline number is useless, the service agents keep telling it’s “being processed”.

I hope I get a refund.

Thanks to All of you for the comments and Information. I bought an i-term policy on 1st week of DEC,2010 with premium Rs.8272/- per year, age@35yrs for 25yrs term,a Non-tobacco user. But later on, I got the mail from Aegon Religare that they found ‘COTINEN TEST Beyond acceptable limit’ and they provide a counter offer of Premium Rs.11,857/-. I already informed them that I am not a tobacco user in any form niether a smoker, but i drink capuccino coffee 3-4 times a day mostly empty stomach. And also suggested them I would like to re-test my COTINEN level. But they were not ready to accept it. And atlast, I decided to Cancel my policy. And today I got the cheque of full payment of my first premium from Aegon Religare.
Pls. let me know your valuable comments on this. What should I do next? KOTAK E-Prefferred OR ICICI iProtect????

To Chakroborty,
I have also applied on 3rd Jan’11,for me also on enquiry with call centre they are saying there is no application in system.
I have done the payment via net banking.

Please let me know what is the process you followed to resolve this.
As I also need to go through the same pain as you.

Regards,
Abhi

I was looking for a term plan and decided to go with ICICI Prulife’s iprotect plan since the premium offer was competitive and could be done online. The nightmare started after paid
premium on 01-Nov-10.
The company promises about a doorstep document pickup. I was not contacted by anyone for about a week and I called up customer care centre. I was adviced to provide Income proof, ID proof etc. They wanted me to email it to buyonline@iciciprulife.com When I tried sending, it all bounced back. I called up CCC again and was adviced to walkin to a branch and submit docs. I did the same at ICICI pruLife Thrissur, collected my medical checkup forms, compl eted medical checkups as prescribed by the company.

I called up CCC was told that I was an “Elite Customer” and to be “rest assured as all documentation has been fulfilled”. I was also told that the underwriting could be completed in 3 to 6 working days and policy shall be issued ASAP.

But, after waiting for one month, I received letter form their underwriting department asking for more documents like Form 16, bank statement PAN card copy etc. If I had known these documents were required, I could have given them on those on the day I walked into their branch in Thrissur.

This time, I walked up to ICICI Pru Life in Edappally, Kochi and submitted all docs and ensured that nothing was pending from my end. This happened on 11-Dec-10.

The worst part of story happens now-

A week later I get a call from some number in Pune. He introduces that he is Anshuman Mishra from ICICI PruLife, cites my application ref: no and requests for submission of Form 16 and ID proof. He started the conversation in Hindi. I requested for communication in English as I had challenges in speaking good Hindi. All he said was “pending document bhejiyega”, “pending document bhejiyega” and banged the phone.
I called up CC and explained what had happened. I was reassured that all documentation has been completed and policy was pending with the underwriting team.

In another 5 days, I got a call from ICICI PruLife again asking me to send my Form 16 and ID proof to buyonline@iciciprulife.com and another personal address on ymail.com. I did not want t do that and enquired with CCC again and got the same answer.

Finally on 30-Dec-10 I come to know through the online tracking system that the policy has been withdrawn and no explanation was provided. I called up CCC and had to hear from that they donot have access to why the policy is withdrawn. She also added that the company may send some “ hard copy letter citing the reason” for withdrawal. Until this time, I have not received any letter.

I found an utter lack of coordination and professionalism in the way they dealt with the application. Looks like their departments just toss documents over the wall and never talk to each other.

I have been following up with the company to know the reason for withdrawal and they keep extending deadlines committed. All this and the delay of 2 months make me to say, pls opt for some term cover other than ICICI Prudentials product. Or else, be prepared to gift your money to ICICI for 2 months and face the shame of the money being tossed back to you; without any apology or explanation.

I believe that there could be a minimum of 1000 similar cases happening at the same time and that gives the opportunity to ICICI to keep an amount equivalent to 1000 annual premium units (roughly INR 80 lakh) under posession without having to pay up any penalty.

I am looking for a term plan and decided to go with ICICI iprotect plan .My decision is right or wrong ?

This ICICI life pru customer care is full of crooks, There is a manager of online customer care named A.D****e. She will always reply you with saying she is working on your case and never she will solved, very inefficient. I have personal experience with this zoker. She is really stupid. Never really on this customer care-they all are outsourced and totally junk and defaming the name of ICICI.

I want to buy term insurance.
Shall I go with ICICI iProtect online policy (being cheap in premium) or LIC’s normal term insurance (being long track record but costlier)? Please guide.

Thanks for your advice.
In case I have to split my term insurance between 2 insurance companies, please suggest ideally what should be those 2 companies?
Just for your reference, I’m looking for Rs.50 lacs term insurance for 30 years and my age is 35 years.

Hello Readers
I was lured by the offer of ICICI iprotect and bought ONLINE…I’m no tobbaco user…every test was normal..as the medical team suggested to me…but the ICICI PRU says that they hv posponded my policy…Reason are best known to them….I think they are not issuing Policy to normal persons…they will issue only to person who are suffering from any disease…after levying hefty premium…this ‘cheap online’ offer is a trap….

I want to buy term plan of 50 lacks. My age is 34 years I use tobacco 3-4 time a day. My question:
1.Whether i should go for 25 years term or 30 years term?
2. Whether i should buy icici pru iprotect policy Or i should go for LIC.
3. What is claim settlement ratio of these online policies in india ( Iprotect, aegon religare iterm and kotak online e prefferd).
4. Whether claim settlement is poor for online policies than the offline policies.

any experts here please suggest me.

After reading many reviews from from net, i decided to take ICICI iProtect. As I am 25 now I took 50L sum assured for 30 years of Rs 5050/- including Tax Rs 5575/-.
Madan
9892558621

I had a harrowing experience with ICICI IProtect Term Insurance. I paid the premium online, sent all the documents by mail, and got all the medicals done. After this the nightmare started and the following
steps happened in loop for 2 months around 4 times:
1. 2 weeks went by and nothing happened.
2. On calling customer care again I was again told that they have registered the complaint and someone will contact me.
3. Again I was sent a mail asking for some documents which I had already sent.
4. Then I resent the documents.
5. Go back to Step 1.

After going through all this for 2 months, I sent them a mail saying that if you do not want to issue the policy, please return my money. To my shock the same day I got a sms saying that your withdrawal request has been taken and the money will be returned. Although I had clearly said that please return my money if you do not want to issue policy, I was told that I have requested for withdrawal on calling the customer care. Now I am waiting for the money to be returned.

This is a big scheme by ICICI to get premium money without paying any kind of interest. They never have any intention of issuing the policy, and just wait on you to ask for a refund after getting tired waiting.

I also applied for an iProtect policy with ICICI 2 months back. The amount was paid 2 months back, but the policy is not issued yet. I am afraid whether this company is trying to enjoy ‘interest free’ deposits from gullible people like me. I am thinking if I also should cancel the application and go for Aegon.

If ICICI iProtect is really clean, then they should say upfront what this the expected time for Policy issue. If there is a delay in the issue due to their fault, interest should be provided.

After reading all this reviews I am scared of going to icici i-protect.

Even I’m victim of ICICI iProtect – The product is named ‘iProtect’ i.e. I’ve to protect and not the ICICI So you got the message. After paying my premium online and submitting all the documents online; ICICI was pretty quick in getting the medicals done. Once the medicals were done, it was as if they have vanished. After repeatedly asking for my medical reports almost after 20 days, I could get the test results and all were perfectly normal. One fine day I receive a call from Mumbai office requesting me to submit all of my documents as they haven’t received any!! Pretty much interest, on the same day when I gave a call to customer care to confirm if they have my documents they confirmed that the policy is in the proposal stage and policy will is issued soon. Another surprise, more than a week passed and total silence from ICICI end – on following up over phone and web, I was informed to pay an additional Rs.55K/yr (Rupees Fifty Thousand Only!! per year) towards the premium because of hypertension. I’d declared that I’m hypertensive and also gave details on the medication etc and my pressure is pretty much under control even then they asked me to cough up additional Rs.55K/yr on top of Rs.9.5K/year for a Rs.50L policy. Almost a month or more is over since I’ve applied for this thinking that this would be the fasted way to get a policy and the reputation of ICICI among all financial daily’s. It is pretty much evident that they cleary lack co-ordination, customer satisfaction, QoS etc. I’m not sure that after getting this product, what is the surety that they would fullfill a claim smoothly (if any) or do they have any other product to protect iProtect!!!! All the best before opting for this “wonderful” prodcut.

I want to buy term plan of 30/50 lacks. My age is 39years(DOB 17.02.1972)I M NOT INTERESTED IN ONLINE BUYING.
please suggest me how can i buy offline from any branch/agent please sent DETAILS ON MY MAIL.