Sir,

WRT to my Home Loan, I had Policy from ICICILombard which expired in APRIL 2011.
After that I had received a call from Manju ICICILombard for Renewal and see emailed me details (I have attached the same in pdf).
The mail says Total premium for Rs. 1312278/- would be Rs. 37000/- and policy term will be for 5 years. If you go by EMI it will take Rs.350/- per month.

With this information i calculated total premium which came to Rs. 22020/- (Rs. 350/- * 60 Months). I called her back to confirm the ambiguity and she replied 'It could be my mistake your total Premium would be around Rs.22000/- only'.

After her confirmation i filled form. Later i received policy documents having policy numbers and total premium as below which totaled to Rs. 31000/-:
Policy no. 4013/icici-hsp/361646/00/000 (Rs. 10585)
Policy no. 4065/icici-rene/2022330/00/000 (Rs. 20415.168)

I called her back to find out why the difference was?. She explained saying
'Your total premium for Rs. 1100000/- comes to Rs. 31000/- which is funded by ICICI Bank. Your Policy term is of 5 years but your EMI of Rs. 367/- is for 138 months'.

Now this was never conveyed to me earlier. If i calculate my total premium i would be paying of after 138 months it comes to around Rs. 50646/-.
I feel i am being cheated by the representative of ICICILombard.

Please help to resolve this.