[Resolved]  Lic Of India — Agent Cheating

I, the undersigned, Krishna Mohan, resident of Hyderabad, Andhra Pradesh, worked in Trichy, Tamilnadu from April 2005 to April 2008. During that period, I got acquainted with Mr. Veeresh Babu, LIC agent, Agent number (04248), . I have taken three policies from him during that period. After leaving Trichy in April 2008, I have taken another policy Jeevan Astha in December 2008. The details of the policy are as follows:

Policy Number :[protected]
Policy Name : Jeevan Astha
Date of Commencement : 12/12/2008
Single Premium : 48795

Mr. Veeresh Babu told me that once the first year is completed there will be addition of Loyalty on the policy. I have clarified with him and confirmed that after one year if I surrender, the surrender value of 90% and then loyalty addition will give me a situation that there is no loss. When I surrendered I have got only 43,916 only which is a substantial loss. When I asked him, he informed me that LIC told him that they have changed the conditions so there will be no loyalty additions.

I can conclude that Mr. Veeresh Babu mislead me to meet his business targets and I have placed trust on as his service was satisfactory during the first three policies. I did not understand that he was preparing ground for a bigger scheme of things and gaining my trust.

I would pray that suitable punitive action taken against him and take appropriate action on LIC to pay the loyalty additions that were due to me.