Life Insurance Corporation Of India — Complaint against illegal, unauthorised and arbitrary decision of lici to suspend / block jeevananand policy no.[protected],​ without any intimation

Address:

Kolkata, West Bengal

Dear Sirs/ Madam,

Re: JeevanAnand Policy No.[protected],

Sub : Complaint against illegal, unauthorised and arbitrary decision of LICI to suspend/block JeevanAnand Policy No.[protected], without any intimation

Please refer to my telephonic discussion with the The Branch Manager, LICI, CBO-19, on 27/08/2014 at about 15.00 hours and my subsequent complaint through email. It is regrettable that the same has not yet been even acknowledged as yet.

Please further note that I am unable to make payment of premium of Rs 57, 718.00 for the year 2014-15 either online or offline. My due date for the premium of said policy was 17.06.2014 but I neither received any notice from you nor your agent concerned namely Md. MohiSulaiman Salehjee (Code no[protected] called on me to collect the premium as has been the usual practice.

While trying to make payment online, the system flashed a message“your policy is not in force”. I fail to understand that on what ground my policy is not in force when I have never defaulted in the payment of annual premium since 2010 after the policy was issued on 17.06.2010 &printed and signed on 06.07.2010.The policy bond was duly received and accepted by me.

When I contacted the customer care department to lodge my complaint, the concerned executive expressed his inability as he was not able to register the complaint in the system. Thereafter I tried to register my grievance online but again failed to do so.


On interaction with the Agent concerned and after pressurising him a great deal, I came to learn about the real reason for suspension/blockage of the above policy. I was surprised and shocked to learn that the then Assistant Branch Manager(Sales), Debabrata Roy allegedly misappropriated a huge sum of money in cash received from policy -holders and did not deposit the same in the Bank Account of LICI.

I further came to learn from the said agent orally that an enquiry/investigation by the CBI is going on against the said Debabrata Roy. I welcome the enquiry/case against the allegedly dishonest LICI official. However, I do not understand the repercussions of the said dishonesty on the above policy.The said insurance policy is a legal contract enteredbetween us in utmost good faith and mutual trust.

After depositing the risk advance premium in cash, I received the First Premium Receipt whereafter, I received the Policy Bond, copies whereof are enclosed herewith for your ready perusal. What prompted you to take such an illegal, unauthorised and arbitrary action against my above policy without notice to me after more than 4 years is beyond my comprehension and common sense bordering on ridiculousness and foolishness.

Your unwritten, uncommunicated and unknown action/order against me is illegal, unauthorised and arbitrary on the following amongst other grounds:-

1) No notice was given to me before the issue of the “ghost order”.

2) I was not a party to the alleged fraud, criminal breach of trust or conspiracy to misappropriate cash funds of LICI.

3) I was not your employed staff and could not have participated either directly or indirectly in commission of the alleged misappropriation, fraud, criminal breach of trust or conspiracy.

4) Your action is barred by the law of limitation and the principles of waiver and estoppel inasmuch as after accepting premiums continuously for the last 4 years, you are legally estopped from either denying receipt of premiums after 4 years or describing an “in force Policy” as “not in force”.

5) The Policy document which is a legal contract between us cannot be cancelled/annulled/suspended/blocked by you unilaterally.

I, therefore, request you to be kind enough to accept my premium for June 2014 without any penalty/interest immediately failing which I will take appropriate steps in the matter at your costs and consequences. I also call upon you to pay me Rs.1, 00, 000/- as exemplary costs for causing unnecessary correspondence and mental harassment.

Thanking you,

Yours sincerely,


Mobin Al Rashid 70, Karaya Road, Jasim Tower, 2ndFloor, Flat no.201, Kolkata700019
Mobile-[protected]