I highly regret, I bought this policy then following up with you guys and wasting my lots of time. It was sold to me by Veena by saying that 15-17% of return is assure and you won't get more than 6% by investing in "Fixed Deposit" (changed my decision) at ICICI bank, Bommanhalli, Hosur road branch.
Problem with ICICI Pru life policy so far -
Problem #1. When I invested in this policy, it was kept on 2 funds - Maximiser V - 2149.81 units and Multi Cap Growth Fund - 2074.51 units. Today these unit are 2119.13 and 2044.91 respectively. I see 30.5+ unit went down for both the fund in 7 months. How and Why? Is it service charge? There were no transaction (buy/sale) of fund done under this policy so far, still it is going down every month by around 5 units.
# Note - I have already follow up for this problem with the seller of this policy - Veena and Fund Manager - Vishnu for almost 4 months to correct the units count - Wasted all my time, this problem didn't resolve yet.
Problem #2. Advantage of this policy was conveyed to me, that, Fund manager will take care of your investment to grow up by 15-17%.
7 months ends now, My all principle amount is still kept at same fund (no transaction done yet by fund manager so far), even in case, NAV of my fund is continuously going down. Then what fund manager role is? When he is suppose to buy and sale the fund? How he will give me 15-17% return? And if they don't do anything, Why 6-7% per annum deducted from premium amount? I can buy such fund by own (without paying service charge of 6-7%), in case if I am suppose to buy and sell the funds.
In first 7 months, my investment has gone down by 12% (12% loss in first 7 months).
