[Resolved] Lic Of India — payment of premium through cheque

Life Insurance Corporation of India [LIC]

[Resolved] Lic Of India — payment of premium through cheque

N NSuresh from Delhi, Delhi

Dear Sir, I am maintaining two policy with Lic of India Belgaum branch with regularly paying the premium for the policy No.[protected] for Rs.1546/- & No.[protected] for Rs.492/- and paid premium for the due Feb - 09 by cheque but cheque is returned back for the non signature of the payee. I would like to ask, while accepted the premium they should check the cheque that is in proper way or not but the same is returned to me with a fine of of Rs.170/-.for the same cheque bank charged me Rs.80/-, is the my fault that i paid in cheque it is there duty to check the cheque or cash before accepting is it in a proper way or not. please advice me for the same. Was this information helpful? No (0) Yes (0)
Aug 13, 2020 Complaint marked as Resolved
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Comments

uphar

from Kharagpur, West Bengal

Dear Suresh

U have written a cheque without signature and submitted it at Lic office..well, as per banking code of conduct rule, there is a clause that the person issuing the cheque is the one responsible for its accuracy. Eg i[censored] have mad a cheque to person A (but u wanted to make it for person AA), the bank will not be responsible for wrongly giving the money to person A. U need to check it urself.

Also, as for the question of LIC guys not checking the cheque before accepting..just consider a situation like this..suppose u pay premium by cash and use some fake 500 Rs- notes, it may happen that LIC guy may not make out the difference and accept ur fake notes as well, but then, speaking technically, u are at fault to give fake notes. Same way, he has accepted ur cheque and forgot to verify signature, but technically u are at fault.