[Resolved]  Lic Of India — Agent most unscrupulous

Address:

Mumbai City, Maharashtra

LIC agent Mr.Elias was entrusted to take 4 policies for children between 5 and 11 by guiding 2 poor families with a proper insurance policies for which the families eldest brother living in Dubai wanted to pay the premiums of Rs.10000/ p.a. to safeguard these families(as his younger brother suddenly passed away due to dengue).The family completely trusted him on his advice but unfortunately on completion of the Tenure of 5 years,it was found that the policies were market related and after 5 years,these families were getting a mere Rs.1500/- more for the payment of Rs.50000/-.We want the agent to compensate these 4 policy holders with an interest amount @9% p.a.,as he had benefitted by these policies!(on my visit to the Head office,even the manager was shocked by agent's giving thesemarket related policies to these young children).I had been trying to contact but he does neither reply to my email or accept my phone calls. Emails attached below:
SAntanu Nundy
[protected][protected][protected][protected][protected][protected][protected][pr...⇄
From: [protected]@hotmail.com
To: elias.[protected]@gmail.com
CC: [protected]@licindia.com; [protected]@rediffmail.com;
Subject: Unreliable & Untrustworthy LIC agent must COMPENSATE!
Date: Thu, 16 May 2013 13:15:16 +0530

Mr.Elias,
as you are dodging me since months with respect to my policy & my friend's ( from Dubai)
brother's family which are all related to Market Plus/Market Related under your expert advice,i need
to inform you that these 4 Children's (FAMILIES LIVING ON POVERTY LINE,AS YOURSELF VISITED THEM TO GUIDE & ADVICE) policies taken out by yourself,you need to compensate them for the LOSS INCURRED (WHILE YOU WERE MAKING A FAT COMMISSION !) comparing t with Bank's interest @9% PA starting from 29.08.2007 till 28.8.2012 which works out Rs.65233.35 less LIC Surrender Value of Rs.51532,so on average approx Rs.13700 x 4 policies= Rs.54800.Even after knowing that FATHER OF 2 KIDS HAD PASSED AWAY suddenly,you did not resist from your INHUMANLY BEHAVIOUR and personal GREED.
On visiting the Branch 919 at Sir P.M. Road,Mumbai on 12th May'13 and after putting up these cases in front of the officer,they too were shocked & astonished of how could any agent advice such ridiculous Policies for children !
All the facts as mentioned below:
1) I requested you to GUIDE & ADVICE to take out 2 policies each for 2 families having children between the age of 7 & 16 whose uncle Mr.Thomas Dsouza from Dubai wanted to help & secure both his brother's children (both families living on POVERTY LINE and one of the brother had passed away suddenly due to Dengue).
2)Under your expert suggestions,you provided all 4 of them with Market Related policies (policy nos.[protected]/6 favouring Master J.J.DSOUZA AGED 15 YEARS & Miss J.J.DSOUZA AGED 7 YEARS) for insurance premium of Rs.10000 with sum assured of Rs.100000 for the term of 20 years (as i understand now after visiting the branch 919 that actualy you were making the mother beneficiary incase her children dies?? Is this a policy to safeguard and benefit these children who are of 7 & 15 years of age ?!!!).

As they did not understand these policies and trusted on your advice completely (due to my reference) and now they are completely shattered after knowing the facts of these policies from a friend of Mr.Thomas Dsouza (Dubai).
I am requesting you to give by cheque an amount of Rs.13700/- each (Calculation on the basis of interest @9%),favouring all 4 children,else i will take up this matter with Government officails and also Legaly..
Santanu Nundy