Lic India — Refund of accumulated guaranteed addition and excess premium paid

Sub: lic policy no:[protected] under plan 112 – 25 – 16 dated 28.03.1998 reduced the sumassured from rs. 9, 00, 000/- to rs. 5, 00, 000/- w. E. F. 29.09.2003
Ref: my letter dated 29.09.2003
Dear sir,
With reference to the captioned subject matte the sum assured was from 9, 00, 000/- to rs. 5, 00, 000/- as per my above letter dated. 29.09.2003. Now please note that i have not received the difference of premium from date of commencement of the policy to the date of change of sum assured value of the policy. The details of the premium and guaranteed addition to be refunded are as under.


Date of commencement of policy : 28.02.1998

The sum assured value of policy : rs. 9, 00, 000/-

Date of change of sum assured : 29.09.2003

The sum assured changed : rs. 5, 00, 000/-

The premium paid for the period 28.02.1998 to 29.09.2003 - rs. 3, 79, 476/-
[rs. 13826/- qtly. On sum assured of rs. 9, 00, 000/-]

The premium to be paid on changed sum assured - rs. 1, 99, 706/-
[rs. 7681/- qtly. On sum assured of rs. 5, 00, 000/-]

The difference of premium to be refunded - rs. 1, 59, 770/-

The guaranteed addition on sum assured rs. 9, 00, 000/ — rs 4, 05, 000/-

The guaranteed addtion on sum assured rs. 5, 00, 000/ — rs. 2, 25, 000/-

The difference of guaranted addition to be refunded- rs. 1, 80, 000/-

Total refund of excess premium and guaranteed addtion rs. 3, 39, 770/-

Till date i have not received the same even considerable years have been passed