I was holding LifeStage Pension Ad policy no. 14388622 since August 2010 with annual premium of Rs.10,00,000/- (Rupees Ten Lac only) payable in two installments of Rs.5,00,000/- per year. However, after payment of Rs.25,00,000/- (Rupees Twenty Five Lac), I could not pay the last installment of Rs.5,00,000/- which was due on 23.02.2013 due to acute financial crisis. Now I received a letter reference no. R14388622 dated 24.02.15 from ICICI Pru regarding Termination (Foreclosure) of the aforesaid policy along with a cheque amounting to Rs.6,77,495. It also mentioned that if I wish to revive the policy, I can pay the due premium and return the above cheque to the nearest ICICI Pru Life Insurance branch. Accordingly, I visited ICICI Pru branch office at Vashi, Navi Mumbai on 11.04.2015. It was intimated by Customer officer that in order to revive the policy, I have to pay Rs.25,00,000/- (Rupees Twenty Five Lac) premium at a time due from February’13 to February’15, i.e. 5 installments @ Rs.5,00,000/-. Else, I have to accept the payout of Rs.6,77,495/- against the total premium of Rs.25,00,000/- already paid by me. This means that I have to drain out Rs.18,22,505/- which is my hard-earned money. As it will be extremely difficult for me to shell out this amount at a time, I request you to consider the matter sympathetically and provide an amicable solution to mitigate the issue.

I want to pay the last premium of Rs.5.00 Lac and get the policy revived and get back my return after the lock-in period.

Email Id: bosern1958@gmail