Policy details:
Plociy No: 14494412 issued on 14/09/2010
Dear Sir,

I had applied for an ULIP plan with ICICI Pru Life Insurance on 31 Aug 2010 (plan name: ICICI Pru Ace and ploicy no: 14494412). I made the first premium payment through cheque which was cleared on 06/09/2010. However the policy was issued on 14/09/2010.
Meanwhile the NAV of the plan went up from 11/unit to 11.57/unit. Thus on premium of Rs 25,000 I received ~80units less than I should have received if policy was issued on 6 Sep (the same date cheque was cleared).
The reason provided by the company was that it takes 7 working days to issue policy. The company had already taken 7 days, after which it cleared cheque (31-aug to 6-sep). I feel this is grossly unfair to clear cheque first and issue policy later.

If I receive the original policy at a later date due to operational reasons that is fine but it should not be a reason to issue policy at a later date.

Please help me in it.

Ronak Sarda