[Resolved]  Lic Bima Nivesh Policy No.[protected] — Complaint for non-receipt of full amount after claim

That I want to inform you that I have received the cheque from your City Branch 10 at 1 & 3, Brabourne Road, 5th Floor, Kolkata – 700 001 for the LICI BIMA NIVESH Policy No.[protected] of my husband Late Sushanta Dutta Mazumder as nominee on 1.7.2006 vide cheque No. 786601 dated 27.6.2006 amounting to Rs. 6, 92, 929/- (Rupees Six Lakh Ninety-two Thousand Nine Hundred Twenty-nine) only drawn on Bank Of Baroda, Brabourne Road Branch, Kolkata – 700 001.

That my husband Sri Sushanta Dutta Mazumder was died on 20.3.2006 at his residence at 27-K, Rajkrishna Street, P.S. - Uttarpara, District - Hooghly which is within Ward No. 15 o[censored]ttarpara–Kotrung Municipality. That Uttarpara–Kotrung Municipality has issued death certificate of my deceased husband.

That my husband was a retired West Bengal State Government Employee. He was a policy holder of LICI BIMA NIVESH Policy No.[protected] issued by Life Insurance Corporation Of India from City Branch 10 at 1 & 3, Brabourne Road, 5th Floor, Kolkata – 700 001. I am the nominee of the aforesaid policy.

That I have intimated the matter within stipulated time and on 1.7.2006, 9 (nine) days before the maturity of the aforesaid policy, I received the cheque from LICI. Previously, on 9.6.2006, I received a letter dated 25.5.2006 (posted by you on 7.6.2007) from LICI which was addressed to my husband’s name and the letter shows that the amount receivable after maturity is Rs. 7, 51, 828.34 (Rupees Seven Lakh Fifty-one Thousand Eight Hundred Twenty-eight and Paisa Thirty-four) only. But I received the cheque of Rs. 6, 92, 929/- (Rupees Six Lakh Ninety-two Thousand Nine Hundred Twenty-nine) only, nine days before its maturity and it is less Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) only from the maturity amount. I do not understand why LICI has deducted the amount of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) from the maturity amount of Rs. 7, 51, 828.34 (Rupees Seven Lakh Fifty-one Thousand Eight Hundred Twenty-eight and Paisa Thirty-four). LICI has issued the cheque on 27.6.2006, only 12 (twelve) days before the maturity and I have received it 9 (nine) days before maturity and for 12 (twelve) days the amount deducted is of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four). It is very unfortunate action by a reputed company like LICI. There is no whisper of any condition mentioned in the “policy” that any amount would be deducted when the policy-holder dies only three and half month before the maturity of that policy. An amount of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) has been deducted for 12 (twelve) days early payment(!), it is unbelievable and unfortunate act done by LICI.

I think there is a mistake of calculation or mis-understanding by LICI. I think as a nominee of my husband I am fully entitled to get the full amount, i.e., Rs. 7, 51, 828.34 (Rupees Seven Lakh Fifty-one Thousand Eight Hundred Twenty-eight and Paisa Thirty-four) only which was entrusted to you by my husband.

In view of the above, I wrote to The Branch Manager, Life Insurance Corporation Of India, City Branch 10, Kolkata about this matter twice and on 29.11.2006 I received from a letter dated 16.11.2006 from P. Br. Manager, CBO-10, KMDO-1, LICI stating some flimsy and illogical grounds for non-payment of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four). But I think the aforesaid letter is only a casual reply of my letter and there is no ground to support for the less payment of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) for 12 (twelve) days early payment by LICI. So, please rectify the mistake and kindly arrange to pay the rest amount of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) for full payment for the above mentioned policy as soon as possible.

I am a widow lady and it is a hardship for me to correspondence regularly to claim my legal demand from LICI and if you not take the matter seriously I’ll not get my justified claim from LICI in future.

So, I request you that you would be kind enough to pay the balance amount of Rs. 58899.34 (Rupees Fifty-eight Thousand eight Hundred Ninety-nine and Paisa Thirty-four) only for LICI BIMA NIVESH Policy No.[protected] of my deceased husband at your earliest and oblige thereby.

Yours sincerely,

Manjusri Dutta Mazumder

27-K, Rajkrishna Street,
PO – Uttarpara,
District – Hooghly,
PIN Code – 712 258.

Phone:[protected]