[Resolved]  Lic Market Plus Policy — Problem with surrendering the policy

Address:

Andhra Pradesh

Hi,

I bought LIC market plus tax saver policy on 13th Dec 2006 in pune and now i want to surrender it.
I have shifted to Hyderabad and wanted to surrender the policy here.But the LIC people are telling me that I cannot surrender my policy here, i have to go to pune and surrender my policy there.On top of it, they are saying that it will take 2-3 days time.
This is a clear case of putting the policy bearer in trouble.When i bought this policy via agent and even when i contacted the LIC people of my branch, they told me that i can surrender it anywhere and now i am hearing otherwise.
I dont understand the simple part that, shifting location is pretty much obvious in india and why the hell anyone would go to pune stay there for 2-3 days (again here you need to arrange place for stay) and then even after that you are not sure whether your work (surrender the policy) will be done on time.

This is why people think twice before investing in govt ULIP, because of so much of suffering, because of so much of trouble which they give to the policy bearer.

This is completely insane that i can do the policy-premain payment online from anywhere, but to surrender it to the LIC, i have to go the base center office.Why kind of rule is this that you can ask the money from anywhere and to get the money back , i have to come to pune.

I have invested Rs 90000 in the policy in three years and whatever the meagre profit which this policy is giving me will be invested in my trip to pune, arranging stay etc.
Dont you guys think twice before making such a pathetic policy.

I clearly felt cheated here by the LIC orgranization.and this is just a wakeup call to all those who are investing in LIC that please dont invest here.Better invest in private sector, these govt policies and nothing but piece of where you roam here and there with no luck and at the end, they will give you so much trouble at each phase of the policy(surrender/premium payment etc) that you will be like fully disgusted.


This is my sincere request to the LIC people to do something in this regards.I just cannot take 4 days leave to go to pune and stay there (wasting money here again) and surrender the policy.

Name : Pushpendra Singh
Market Plus policy no. :[protected]
Bought on : 13/12/2006
Email Id : [protected]@yahoo.co.in
Phone No. : [protected].

Thanks,
Pushpendra