[Resolved] Lic Ecs Payment Complaint — Non-acceptance of transfer of ECS facilities | |||
Dear Sir/Mamam I am having 7 LIC Policies of LIC of India and paying premium through Indian Bank, MG Road branch since 25.7.2010 by accepting ECS payment by LIC Jeevan Beema Nagar BRanch, Bangalore. Now since I am transfered to another HAL Division at Marathalli, I wish to change my ECS payment facility from Indian Bank, MG Roard to SBI HAL Branch, Bangalore, for which I obtained SB_HAL branch Bank approval with seal for accepting ECS facility as I am operating Saving Account from this branch. But, LIC Jeevan Beema Nagar Bracnh has not accepted change in ECS facility stating that it can not be changed now because of some RFM action at their part. Please do the needful by registering complaint. Kailash K. Dagar Bangalore (M) [protected] Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 2 Comments | |||
Comments
ECS is a facility offered by the Banks to its customer under instructions from RBI
The procedure for ECS mode under LIC is as follows
1. Before submitting your proposal for insurance get the ECS mandate form from LIC.
2. Submit the ECS mandate form to the bank for attestation and take two copies of the same.
3. Submit the original to the bank so that they will enable ECS under your account
4. Submit the copy of the mandate to LIC along with the proposal for insurance,
5. LIC will then generate debit invoice and send it for clearing to your bank
6. Bank verifies whether you have given mandate for ECS debit to the bank
7. If you have given the mandate and sufficient balance is there then the debit goes through
8. Usually Rs 125 now a days is charged by LIC only if the ECS debit does not happen due to insufficient funds in the bank account of the party
The procedure for ECS mode under LIC is as follows
1. Before submitting your proposal for insurance get the ECS mandate form from LIC.
2. Submit the ECS mandate form to the bank for attestation and take two copies of the same.
3. Submit the original to the bank so that they will enable ECS under your account
4. Submit the copy of the mandate to LIC along with the proposal for insurance,
5. LIC will then generate debit invoice and send it for clearing to your bank
6. Bank verifies whether you have given mandate for ECS debit to the bank
7. If you have given the mandate and sufficient balance is there then the debit goes through
8. Usually Rs 125 now a days is charged by LIC only if the ECS debit does not happen due to insufficient funds in the bank account of the party
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LIC Central Office, 2nd Floor, Jeevan Bima Marg, Mumbai, Maharashtra, India - 400021
defence — NON ACCEPTANCE OF CHEQUE FOR LIC PREMIUM
I have a money back policy at Gazadiabad branch. Being a defence employee I have been posted at border, where I can not get my policy transfered. I do visit New Delhi Janakpuri since my family is staying there. I have personnaly visited LIC Janakpuri New Delhi Branch in B block to deposit my LIC perimium for QE June 08 several times between 18 Jun 08 to 29 Jun 08 . I have been told a standard reply by branch lady clk that the internet connection is not working. I approached branch manager, he also did not help me.how come an internet connection of this branch is not working for so many days . I am of the openion that the branch is reluctant in accepting cheque for out station policies.
You are requested to look into the functioning of this branch. It is also noticed that the lady clk at the counter is either busy in talking on mobile phone or listenig music on Mobile FM.