I bought an insurance policy in 2006 from an ICICI bank employee at Pune Bhandarkar Rd branch. He fooled me into buying a policy by saying it was a one time premium payment of Rs.40,000/- & it will give me a return of Rs.15lakh after 10 years. I asked him whether I have to make any other payments for the rest of the policy term & he said no its one time payment only. Next year I started getting SMS from ICICI about paying the premium for that year. I was a student then and could not afford to pay the premium of 40,000/-. When I inquired for the concerned person who sold me the policy he was moved to Bund garden branch, I called him but he never returned my call. I also sent an email to ICICI prudential to look into the matter.BUt no one has responded back.
I want to file a case against the employee.I have his visiting card for the same.
Also the value of the insurance fund has not increased in the last 2-3 years & will fetch me only Rs.10000/- at max if I surrender the policy.
Guide me about the procedure to file a case & get my money back.