How do I surrender my ICICI policy that I was coerced into buying

[Desiseeker9569]

D

Desiseeker9569
PARTICIPANT
March 19, 2025 at 7:25 pm

Back at 2022, I was excited to get into Entrepreneurship only to meet with disappointments, unable to find good suppliers, with time all problems were getting solved except bank account – I struggled to find a single bank who was willing to open a current account, everyone had their requirements to first get an FD, or buy a policy. After getting rejected from so many banks, I agreed with IDFC and bought an ICICI savings policy alongside my current account was finally done and the bank employees kept coercing and patronizing me to keep the policy, that they will cancel the policy after a few months, or that my current account has issues which needs to sort out. I’ve had already cancelled one policy before trying to defend myself, but they forced me buy another one. That problem with account was never solved and the free look period passed.
I believe after a RBI order that banks became more helpful, that I was able to open an account with HDFC after that, I tried to contact ICICI to cancel my policy, they refused to citing the freelook period.

I made complaints to IRDAI but they were of no help. I tried to talk it out in person but they were not willing to understand, telling me that I should perhaps pay the premiums.

Rest here I am looking for some help to recover the amount I lost as I really need the premium amount back, it was taken from me without my consent.

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