Life Insurance Corporation of India [LIC]

LIC Insurance — refund of money

ramesh240968

from Bengaluru, Karnataka

Address:

Raigad, Maharashtra

SIR/MADAM,
IHAD TAKEN 2 POLICIES FROM LIC 1)JEEVAN ANAND AND 2)JEEVAN SAARAL.FOR BOTH THE POLICIES THE TOTAL PREMIUM WAS 4567 RUPEES.PER MONTH WHICH I HAD BEING PAYING TILL MAY 2013.THE POLICIES WERE STARTED ON 28TH DEC 2011,SO IT HAS BEEN 17 MONTHS THAT I HAVE PAID MY PREMIUMS FOR.DUE TO SOME FINANCIAL CRISIS I SHALL NOT BE ABLE TO PAY MY FUTURE PREMIUMS.SO I DECIDED TO STOP PAYING FROM THIS MONTH THATS JUNE.BUT ON REACHING LIC OFFICE I GOT A SHOCK OFMY LIFE,THEYSAID I CANNOT STOP PAYING PREMIUMS AS ITS ONLY 17 MONTHS WHERAS IT SHOULD COMPLETE 36 MONTHS AFTER THAT ONLY I CAN STOP AND GET THE MONEY BACK WHICH SHALL BE 60% OF THE PREMIUMS I HAD PAID FOR 36 MONTHS.SIR THE REASON FOR ME STOPPING TO PAY PREMIUMS IS THAT I CANNOT AFFORD PAYING.AND STOPPING IN BETWEEN IS LIKE LOSING ALL THE PREMIUMS I HAD PAID TILL NOW.SIR THIS IS HARD EARNED MONEY FOR ME ,HOW CAN I JUST LET IT GO.I DONOT WANT ANY INTEREST FOR ANY BENEFITS I JUST WANT MY MONEY BACK PLEASE HELP ME AS I HAVE NO IDEA WHAT TO DO ABOUT IT.

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ramesh240968

from Bengaluru, Karnataka

sir,i had taken 2 policies from lic insurance
1)jeevan anand
2)jeevan saaral.
for both the policies I used to pay a premium of 4567 rupees every month.
I have paid upto 17 premium till today.
as I am not in a position to continue paying premiums,i went to lic office to discontinue with my policies, I was shocked to hear that I have to pay wait for 3 yrs to complete for the refund and if I stop paying premiums I shall lose all what I have paid.can anyone help me on tthis.this is my hard earned money and lic is saying forget about it.