Hi guys,
In the last week I got calls from Delhi no. where i have spoken to 3 different persons. They say they are calling from ICICI Prudential and were asking if I would like to get the agent commission refunded back to me.
I have three policies and for all of them I have been charged Rs. 8,35,000 as commission till date. (40% first year, 25 second, etc). They said the agent is claiming the money but if I didn't know about the charges at the time of policy taking I can request to get it back instead of giving to the agent.
I was happy to hear this at first but got suspicious after they told me the procedure.
They said I was supposed to not talk to ICICI agent or any one in my branch about this as for this to complete it has to remain confidential for 45 days till they remove the agent code and release the money. Also after this they will not release all the money (FV + commission) instead they will convert 2 of them into new policies where I will have to pay again and the money (FV + commission) will be transferred there. Also once I will confirm they will send someone who will collect documents needed for this. But this guy will not know anything about this.
After talking to my ex-RM of hdfc, he said this can't be possible and they are fake agents trying to get new policies. So I should avoid it.
I was excited at first since the commission amount Rs. 8,35,000 is not small but got doubts about it. These policies were done by my father who wasn't told anything about commission and did as he was asked by the bank people at the time of investment in new policies. I was out of country at the time and later when I came back and looking at why the funds are not growing, I realised the mistake of high commission charging and not being told about it. So I have resigned to just accept the mistake. My dad made similar policies at the same time in HDFC with the same high commission charges and in total we have paid Rs. 15,00,000 just as commission.
So I was wondering if anyone has heard this.
In the last week I got calls from Delhi no. where i have spoken to 3 different persons. They say they are calling from ICICI Prudential and were asking if I would like to get the agent commission refunded back to me.
I have three policies and for all of them I have been charged Rs. 8,35,000 as commission till date. (40% first year, 25 second, etc). They said the agent is claiming the money but if I didn't know about the charges at the time of policy taking I can request to get it back instead of giving to the agent.
I was happy to hear this at first but got suspicious after they told me the procedure.
They said I was supposed to not talk to ICICI agent or any one in my branch about this as for this to complete it has to remain confidential for 45 days till they remove the agent code and release the money. Also after this they will not release all the money (FV + commission) instead they will convert 2 of them into new policies where I will have to pay again and the money (FV + commission) will be transferred there. Also once I will confirm they will send someone who will collect documents needed for this. But this guy will not know anything about this.
After talking to my ex-RM of hdfc, he said this can't be possible and they are fake agents trying to get new policies. So I should avoid it.
I was excited at first since the commission amount Rs. 8,35,000 is not small but got doubts about it. These policies were done by my father who wasn't told anything about commission and did as he was asked by the bank people at the time of investment in new policies. I was out of country at the time and later when I came back and looking at why the funds are not growing, I realised the mistake of high commission charging and not being told about it. So I have resigned to just accept the mistake. My dad made similar policies at the same time in HDFC with the same high commission charges and in total we have paid Rs. 15,00,000 just as commission.
So I was wondering if anyone has heard this.
