Life Insurance Corporation of India [LIC] Complaints & Reviews

your maturity cheques are written in a very careless manner now-a-days. In June this year we got two cheques from LIC Market Plus ; one in my name Kasturi Roy Chowdhury and the other in my husband's name Asesh Roy Chowdhury. Both were of amount 16304/-

My husband's cheque had to be returned for correction as the branch name was incorrect.
My cheque which was deposited in the SBI Jadavpur branch has also come back to me for it was ovewritten in places and not duly signed. Over and above bank has debited an amount Rs 75/- as service charge.
Advice me what i should do with this cheque? How can i get hold of these signatories?

For your information my cheque is from AXIS Bank Lake Town branch

kasturi roy chowdhury
11A/1 Chanchal Sarani
Santoshpur
Kolkata 700075
Tel:[protected]

Loan Sanction No: 407759
16 June 2009

I had applied for a home loan from Thane office from executive Mr Subhash.
I had applied in the month of May 2009 and got the sanction letter on 16th June 2009. Today is the 23rd of July 2009 and the disbursment is still not done. The executive Mr Subhash is avoiding my calls and wants me to follow up on my own. He is asking me to call his Manager and follow up.
Is this the way LIC functions ? Do they harass customers in this way ? I want a solution to this problem as soon as possible because its been 2 months and still there is no reply from LICHFL.
Regarding this mail which was sent on the 17th of july, LIC had asked the thane Manager to revert with the status. Mr Herlekar has been in contact with me for the same but is not able to give any sattisfactory reply. He had told me that i will be getting the cheque on 21st july but still there is no trace.
Today i have been calling him from morning and he is not picking up his cell. Because of LIC's delay I have to incur aloss of 2, 75, 000. The reason being I had finalised a flat which was costing 20 Lacs, but because of the delay the deal got cancelled and i had to take another flat which is costing me 2.75 Lacs. Is LIC going to pay the difference ? I don't think so. But then even after giving all the required documents which was submitted on the 8th of july 2009 there is no revert from LIC.
Please look into the matter.

Dear Sirs,

Name: NISHA NIKAM - FILE NO. 407825

I have already received sanction letter from LIC on 17th June 2009 which took nearly 2 month after submitting all the relevant documents.

My File no is:407825 and submitted all balance documents in second week of May 2009, however was assured of loan disbursement by 10 days.

however i have not yet received my loan sanction amount cheque. My lic agent Mr.Sudhir Lokhande has been assuring me since last 15 days to give cheque every other day...but have not received anything yet. My file is in process either in your vashi office or thane office.

My home builder is repeatedy pressuring me to give the amount or levying interest on me... I am really in trouble..there is no response on your thane, vashi and fort office, where phone is continously ringing but on one picking up the phone...

also as per assurance from agent, I have already left my rental flat & staying with my relatives. ... my electronic equipments & other household items are lying in a godown where there is water logging & rats. I am really in trouble and in bad time only due to LIC 's bad processing and idling in procedures...

kindly requesting give a good response and action at earliest...

I, Geeta Kaushik is working with LIC of India and take a connection from IDEA under corporate plan from Mr. yogesh Chauhan, Executive of IDEA and his address is Shop No.2, Plot No.Y-349 Sector-12, Near Petrol Pump, Noida-201301 on 25.05.2009. Mr. Chauhan said that we have a plan and in this plan you have to pay Rs.700/- one time and Rs.150/- monthly rental for unlimited downloading and call charges will as under:-

IDEA to IDEA - Rs.30 paise per minute
IDEA to other mobile - Rs.50 paise per minute
STD - Rs.1.50 per minute

I was agreed with the plan and I paid him Rs.700/- in cash and he gave me a SIM and said your connection will be activated within one or two days. At that time, I could not give him a copy of my LIC licence which was sent to him by me through email. On 28.05.2009 my SIM has been activated and the number allotted to me is [protected]. I used it for internet and for phone calls. I recd a SMS that you have to pay Rs.495.77 when I read this SMS I immediately contacted over phone bearing no.[protected] to Mr. Yogesh Chauhan who has given me the connection that I have recd a SMS. He assured me that there is no need to worry and I will take up this with IDEA and the amount will be adjusted in your next bill, but till date no result. I received another bill for Rs.2000/- approximately and my services totally stopped. I contacted Customer Care and they told me that your bill has not been paid that is why your services stopped. I immediately contacted Mr. Chauhan and he again give me an assurance that I have already send a mail to IDEA and your problems will be resolved and services will be activated but till date my services not activated and the bill amount not yet adjusted.

My submission is that my services will be activated immediately and the amount will be adjusted as informed and recovery, if any, may be made from Mr. Yogesh Chauhan.

Thanking you,

Yours faithfully,

Geeta Kaushik
1449/57A, Durga Puri, Loni Road,
Shahdara, Delhi-110 093,
[protected]

After posting my compliant on 13th jul 09, the very next day i got call from my SCB branch wer i have my salary a/c, that there is an ECS come from LIC for 11K and my a/c is short with some Rs. I contacted LIC agent Anne - she as usual didn't pick up my call as my loan is only 8 lacs and emi amount was as per 13 lacs loan. Then i had to send her sms and tell her / ask her clarification - as usual she blamed her operations and said will rectify next month, my excess amount will be deducted for coming month's emi. This is really disgusting - i have to chase them every now & then waste my time, money & energy. Can anyone please tell me where do i go for lodging a compliant against them. I am really fed up with the way they are working and have handled my case. I was p[romised on 14th jul 09 that they shall get everything rectified and let me know and also give me my requested documents - but no luck till date.

I haven't seen anyone so damn unprofessional and irressponsible NBFC's representatives...

DATED : JULY 22, 2009.

TO
LIC OF INDIA

Dear Sirs,

I had invested a sum of Rs. 30, 000/- of Bank of Baroda in October 2006 in favour of LIC MARKET PLUS SCHEME and now it is going to be 3 years in October 2009 and I have not received any Statement of Account till now so I want to know that what is the Current Value of my investment mentioned as above urgently.

I hope you will E - Mail to me at the earliest.

FROM :
SHRIHARSH RAIZADA
D - 962, New Friends Colony,
New Delhi - 110065.

DATED : JULY 22, 2009.

TO
LIC OF INDIA

Dear Sirs,

I Bela Kumari want to know the status of my Market Plus Plan units urgently. My policy No. is[protected] and investment is of Rs. 30, 000/- paid by 3 cheques in 2006 and 2008 of Rs.10, 000/- each on Kotak Mahindra Bank.

Kindly E - Mail the Statement of Account of my investment in which all details must be provided that what is the Surrender Value in total alongwith all your calculations on this E - Mail Id which is mentioned above also : [protected]@gmail.com.

FROM :
BELA KUMARI
D - 962, New Friends Colony,
New Delhi - 110025.

My Policy No is[protected]. I want to change the Home address. When I was take the this policy then I lived on rent but Now I settled own House. So I want you change my home address as to
Sudhir Kumar, 2/193, Sector- P, Mansarovar Yojana, kanpur Road, Lucknow-226012
If any matter to talk my contact Number [protected]

Jeevan Saral & Jeevan Rekha Bond Paper is not issue by LIC OF INDIA since Feb.2004

Dear Sir,

I am an ex agent of LIC 921 branch. From 2008 till date ( June 2009) i havent received 5 to 6 commission cheques from LIC. When contacted the branch i was asked to submit a letter with all details... which i did however, i havent recd the chq's yet.

When i visited the branch i was told to open an account with a nearby Corportation branch in P. M. Rd. Fort which i guess the LIC branch manager has got some tie-up with that bank. The LIC branch manager was of the opinion that if i need the cheques to be re-issued i need to open an account with that bank where they will deposit the cheque. This is utterly ridiculous.

Kindly quide with regard to the same.


thanks n regards,

Ganesh Iyer
[protected]

Dear sir,
Due to lost of my mobile with sim on 11.07.09 at 8.30 pm i have requested to customer care to blocked it after that i have taken new sim card on dated 13.07.09, but till date sim was not activated.
My mobile no is [protected]. Hyderabad. I have called to customer care for Activation of sim so many times, they all executives are replayed "excuse me sir will activate with in four hours". from that day i had very suffering And getting loss more. if you have passable to activate pls. do immediately, otherwise please inform i will take other source.
It is my request to you please activate my sim as soon as possible.if it is not possible kindly inform.
please understand my problem i am very series. and any details for contact [protected].

Thank You

NON RECEIPT OF AGENCY COMMISSION
RespectedSir/Mam
I am Lic Agent At Tezpur(Assam) (Branch 487)
TILL DATE I HAVE NOT RECEIVED AGENCY COMMISSION. I Need a user-id and password for my agency code to view the status of my live i have
. I like to continue as LIC agent.
MyDetails

NAME-DILIPKUMARBOTHRA
AGENCY CODE[protected]
DO- 0354048

policy no[protected] Date of commencement 28/03/2001, mode-YLY, Premimum Amount-7515, Plan&term-113-22, Sum Assured-100000, Due Dte 03/09
Sir, This is to inform that I am received the premium letter on 13/7/09

Please refer to my policy No[protected].
Monthly deductions from my salary of N.G. Acharya & D. K Marathe have not been started in spite of my several oral reminders by personally visiting the LIC of India Chembur Branch office.

Please help.

With regards Manmohan Sharma

From
K.Balaji Sukumar
20/71
Akula Street
Kadapa
516001
Cell [protected]

Respected sir,
My name is K.Balaji Sukumar, Resident of Kadapa. I had taken loan on A/C no[protected] at LICHF ltd at Kurnool in the year 2005-06 around. I am paying the EMI through local Bank at Kadapa i.e Corporation Bank promptly. But I am not getting the receipt, latter I came to know that when I pay through bank I cannot get the receipt. Because of this I could not able to know the balance amount and the particulars of EMI and others. In the month of March 09 I enquired about the balance amount but the person a lady voice could not give certain response and kept the receiver. Again I called to the same number and talked to the Manager about the Balance amount to pay and about the EMI amount, The Manager took my Personal Cell No and said that I will send u the detailed Statement and u can find out the balance and other details.

But he couldnaot able to send the same. I go on paying the EMI as I like i.e Rs 1500/- instead Rs 1371 as company fixed earlier. From Sept 08 I paid 2200/- and latter I continued to pay Rs 1500 as EMI thinking that the lone amount will be decreased a little bit.
On 17-1-09 I got a letter stating that there is a reduction in the interest and EMI bu t I do not know how much it is. I called the local office about the EMI particulars, same as they promised to send but they couldn’t. In the month of April 09 I paid only 1400/- Dt 15-04-09 as DD wontedly because the company will send at least memo for payment. Latter a memo came to my address stating that your EMI is 1550/- but u paid Rs 1400/- and with interest you have to pay the balance amount. Then I called the branch manager of Kurnool about the letter which I got from LIC hyd branch i.e Ref LA 451753Dt 17-1-09 stating that The EMI was reduced but now you send letter stating the EMI has been Increased. But manager informed me that he will find out and send the details very soon. As usually I did not get any thing. Latter in the month of in the month of Jun 09 I paid Rs 1600/-on 17-06-9 but I got a letter on 19-06-09 satiating that “ Broken per Int. EMI is Rs 1555/-- Interest Rs 14/- Recovery Charges RS 150/- Total RS 1719-60P Less Suspense ( DR)Rs 1411-30 Net Payable is Rs 308.30P. I think that there is some thing happening and I want to meet personally to Kurnool office. In third week of JUN 09 a phone call for Kurnool office stating that u have due to pay, I replied that the manager promised me to send the details of EMI to pay and other particulars and I am waiting for the same. On replay the madam responded “ Sir it is not possible to send through post and you better to come to office and clarify the came in our Kurnool office. On that I visited the office on 9-7-09 and met Sri Koser Begam at LIC kurnool office at around 11.45 AM as the manager is not in seat.
I asked her about my loan and how much I have to pay, She replied that the EMI reduced form this month. I showed the letter which I got form LIC hyd branch i.e Ref LA 451753Dt 17-1-09 and asked her medium I got this letter stating that the EMI has been reduced earlier only but you are stating now it is reduced and showed the letter. She read it and said that seriously what you read in that- letter stating that the loan has been increased, I convinced that the letter states that the EMI is reduced pleased find out and give me the statement and let me the balance EMI please. She gave the statement and said that see the interest has been increased in the month Sept 09 as 1550/-. I was amazed and asked her Madam I don’t know about this why cant u send me the particulars of EMI. She said recklessly we informed you through sending letter if you did not get it that is not out mistake. But actually they did not send me any letter. She extended the following question the same I am submitting for kind perusal;
If you did not get letter why u paied the excess amount than your old EMI i.e 1371/-
I replied that I got a little bit of savings in my budget and I paid extra amount thinking that the loan amount will deduce.

She said angrily don’t tell lies you got letter and u wontedly paid the extra amount. Then a said If I know the same why cant I pay Rs 1550/- instead Rs 1500/- she recklessly told me that we have nearly thousands of accounts and I am taking print outs and sending for dispatch section to dispatch don’t ask me and who asked to come to this office. The I asked the madam the following questions
Madam don’t get angry I came to know about EMI and balance of my loan,
How can I know that If the EMI increased or decreased can’t you send a letter to me. If the account became defaults then only you are sending me letter. If I know correctly the EMI amount I may pay easily and I wont became a defaulter and I may not pay the challan as late fee.
For all above questions Respected Kauser Begam Replied as follows
We are sending all letters there is no fault form us If you want you can go to court are any thing u can do. Don’t disturb me and I am not the dispatch clerk you can ask dispatch Clark named Mr Sudhaker who went to bank and will come in few minuets.
I waited for sri Sudaker, He came after half an hour after talking with him first he is not a dispatch cleak, and he said the LIC kurnool brance only send letters if the loan holder became a defaulter other wise they did not.

Respected sir How can I know that about the floating intrest rates and how can I know the EMI I had to pay. My excess payments are crediting as loan adjustments, If I pay l;ess amount the lic is paying late charges and challans. On 7-6-09 I gt a letter that u are defalter your net payable is 1855/- with add interest charges Rs 30-70P.
In that letter also there is no EMI to be paid form next month. How it is possible to pay.
And I think the way Respected Kousar Begam treated me in the office of Kurnal is not appreciated.
Please take necessary action to do justice ant do not make me as a deflator.
Thanking you sir
Yours faithfully,

K.Balaji Sukumar

I had applied for Housing Loan in LIC in April 09, my disbursal happened in 2 tranches. After my loan was sanctioned, it took LIC 10 days to deliver me my sanction letter and that too unsigned sanction letter. When i told Sales executive about it, they said before disbursal they wouyld get me a signed original sanction letter, which is not happened yet. At the time of loan application - i was told processing fees is 0.5% but from me they took more than that and also addional 2500/- for franking in cash, i disputed but they had already taken 1130/- from me fees for sanction application before sanction, and they said its non-refundable hence i kept quite and kept on keeping my cool and patience. When i was done with my agreement & registration - i again contacted them in may for disbursal - every day sales executive kept on telling me she will come and collect my documents - it took more than 15 days for her to come and collect documents from me. Whenever i called her for status of my loan - she & her Boss asked for a new document, but they never called me. From Apr - Jul 09 i kept chasing them - they never bothered - my seller had a loan from Bassein Catholic Bank - after my first tranche payment towards home loan closure of my seller to Bassein Catholic Bank - more than 15-20 days LIC people took to collect documents from them - Bassein Catholic Bank had given letter to us addressing LIC to collect documents from them. I always courierd my documents to Anne & Karuna so that they don't have to personally come and aste their time but they made me chase them every day - my seller was in financial crunch and had his daughters wedding for which he needed this loan but he got 2nd tranch payment PO on last saturday i.e 4th jul 09 and that also he was called by Sales executive at bhayandar railway station as she lived there, my seller is in need and hence he didn't mind to go and collect PO as he was very much fed up with the procedures LIC had. After every documents submission a new document requirement they had - they never gave me any list of documents they needed from me at one go worst part was i had to call them to know the status and i got a new shock with a new documents requirement or wrong discrepencies. I am really fed up with the way LIC has handled my case. I myself is working for SCB in homeloans dept but never thought my loan will be handled like this by LIC.When the executive had come to get my signatures on my loan agreement - she insisted me and my co-owners of the property to be at home and we wanted our loan to processed faster we remained home for her, but she ddin;t turn up - 2 times this happened finally she came and got our signatures on loan agreement and left leaving a commitment with us that she will come and give me copies of my loan agreement, all property documents xerox, signed sanction letter, receipt of rs.2500/- for franking for which she had collected cash, loan amortization chart, emi structure, etc. I always sent her letters stating documents copy requiring - but which is not done yet. Now, my loan is disbursed for 8 lacs @ 8.75% but i dont know what will be the emi getting deducted from my ac, they have taken ecs facility from me. I have taken 8 lacs loan and i was given 13 lacs loan schedule - emi structure being in the same field i know how much approx emi will go but LIC has some different calculation. I am thorougly disappointed with LIC - they have wasted so many days of mine, harassed us, this has bothered even my seller when he needed money he didn't get it, the whole idea to sell his property was to have a good wedding of his daughter, ultimately he got his money after 1 month of his daughters wedding. Thw worst thing is after several calls, reminders and chasing i haven't still got any call, loan schedules, signed sanction letter, ended up paying more than 9K fees including franking charges etc and getting a pathetice services from LIC. They seems to be least interested in delighting their customers - they have done this with my loan application - when i was fed up with Karuna i called her Boss Anne for fast resolution - she is more lacadised than Karuna, because i told her i want my disbursal done fast and urgently she didn't contact me and contacted my seller and handed over PO to them we were not even aware of this untile next day my seller called and told me that he received PO post 8 on bhayandar platform by Karuna. Whever i called them - she awlays said you know aasha, you are in the same field - we have to take care of big loans and big people we have to personally handle them and take intensive care of them . My question is just because my loan is small - we would be treated like this. I told them this is not acceptable and hence i don't have any documents which may prove i have a loan from LIC - as i even don't know when my HL emi will hit my account. I don;t know i will be answered by LIC on my loan. I expect them to be responsible enough if they want to do business and delight their customers in future if they want to continue, if this is the way they will treat consumers they will not get any business thoruhgt references from a simple and salaired people like me, they have ruined thei image what me and my family had for LIC.

>>>>>>>>>>>>>>>BEWARE FROM LIC AGENTS FRAUD<<<<<<<<<<<<<<<<<

Hello,
My LIC POLICY NO.[protected] has done by LIC Agent Rahul Srivatav (agent code:[protected] without my knowledge AND WITHOUT MY PERMISSION.
My mother policy No. [protected] has been completed last year this agent meet me and tell that he will done all paper work I have trusted him and submit the
papers after signing by my mother as tell by him
he also take my sign as witness(as told by him but used this sign to make a policy[protected]
he deducted amount 12701Rs. 1st premium amount from my mothers mature policy [protected] which completed last year.
I HAVE FACE ONE OF THE WORST LIFE EXPERIENCE from LIC Agent
I am not going to depositing single Rupee in this policy
Because I cannot TRUST on such company whose agents are doing such FRAUD
IF you wan't to maintain Goodname of your company then such things should not happen
because one such customer tell lot more other persons and also
tell his experience on Internet and on newspaper website and on blogs websites
which is very bad for your Company Reputation .

I have also meet the branch manager at that time for policy cancellation
but he did nothing .



RAVI SHANKAR SAXENA
PH NO. [protected]

DEAR SIR/MAM,
AMOUNT DEDUCTED FROM ACCOUNT BUT RECEIPT NOT GENRATED TILL NOW.DETAILS OF HDFC BANK ACCOUNT IS AS FOLLOWS:-

Savings Account No.: [protected], JALNA, MAHARASHTRA --

Date Narration Cheque/Ref. No. Value Date Withdrawal Deposit Closing Balance
10 Jul 2009 MHDF[protected]-LIC OF INDIA[protected] Jul 2009 1225.00 33098.92
10 Jul 2009 MHDF[protected]-LIC OF INDIA[protected] Jul 2009 1531.00 34323.92

REGARDS,
GANESH BHOSALE
[protected].
E-MAIL:[protected]@yahoo.com

I applied for floating rate home loan of 26 lakhs in LICHFL on 14th June, 09. I was asked to pay processing fee of .5% loan amount out of which I was asked to pay Rs 6113 + service tax of 10.36% initially. Then within 10days, my loan got sanctioned. But before disbursement, LIC launched fix o float 8.9% 3 years scheme, so we decided to switch to fixed rate scheme and now LICHFL is asking us to fill a new application and pay the same amount again.

We insisted that the loan has not yet been disbursed so why we need to pay the fee. But LICHFL is not hearing to us.

I am frustrated about this. LICHFL should consider the customer sentiments too.

Could you please suggest on this.

I have applied for the loan before 4 months and still have not received the check. They gave us the sanction letter but are taking too much time to give the check. They have also taken the processing fees and now they are informing us that the ageement is wrong. This is causing a lot of frustration, already 4 months has been wasted now I again applying to another bank is just useless.