Life Insurance Corporation of India [LIC] Complaints & Reviews

Our loan re-payment have started from the month of June 2013 and since then the ECS payment fails continuously for the second consecutive month.

The reason for the failure told by LIC HFL was that the ECS Mandate was not active in the bank.

But when I checked with the bank, they cannot notice any problem and they gave me the below proofs:
• An email communication was sent on 11-Apr-2013, confirming the ECS mandate was activated (attached for you reference).
• Required funds were available in the respective bank account on the ECS instruction date. (attached bank statement for your reference).
• There were no ECS return charges incurred in the bank account, which stands proof that there were no ECS requests received by the bank and failed. (attached bank statement for your reference).
• If LIC HFL can produce an evidence for the failure, we can look forward to attend to it.

Because of this we are facing the below difficulties:
• We have only our elderly father to wander around the respective offices to fulfill the required procedures.
• We are unnecessarily end-up in paying penalties for those reasons that we are not at all responsible.
• And on top of everything, we are losing our reputation as a defaulter.

Given below the details of our loan:
Loan Number [protected]
Date of Sanction 23-Apr-2013
First Disbursement Date 22-May-2013
Re-Payment Started Date 10-Jun-2013
ECS Instruction Date 10th of Every Month

Given below the details of the re-payment:
S. No. Date Amount Remarks
1. 10-Jun-2013 13,315.00 ECS request not received, but LIC records says it as a default and we paid through DD with fine on 26-Jun-2013.
2. 10-Jul-2013 32,262.00 Still not received the ECS request and obviously this might have been recorded as a default in LIC HFL and we may again need to pay through DD with fine.

I would request you to look into this matter and streamline the process or suggest me an alternative methods for failure-free re-payments.

Regards,
Mohammed Sadiq

This LIC Home Loan works like a typical Indian Govt. offices. They always make you run from here to there and everywhere. I have had a terrible time dealing with LIC home Loan as it takes many months together to get any file to move. The LIC Home Loan General Manager there is not at all approachable and I have never seen him whenever I go to their office. Their website as well does not work and is always under maintenance. Please take your own time in getting a good financing company for your house loan and do not get pressurized by the builders as these loan companies are always tied up with the builders and they get a commission out of it and do not bother about you. As I know LIC is in the news all the time for lots of scams and I am not even sure whether LIC Home Loan is financially strong anymore.

I applied for a Loan for 10 Lacs LIC HOME LOAN. As soon as they asked i immediately submitted all the documents and waited tolerantly for it to be approved, which they said would take 8-10 days max. But, every now and then, they came back asking me for extra docs, which I had already submitted. The LIC Home Loan Agent ripped me off by taking some money for handling charges. I was told I would be charged somewhere around 1% of the loan amount as processing charges. But to my surprise, I have been charged more than 2%. I tried to contact the LIC Home Loan branch, but all the phone lines just goes ringing and are never answered. Finally when I spoke to them, I was told that it was their mistake, but they didn’t know how to reverse the transaction or the amount. At last, I received the Sanction Letter and the EMI mentioned in it is different from the amount that I signed for on ECS form. I have given up now and have lost all my tolerance by dealing with them. LIC HOME LOAN WORST Experience.

Hi,
I have availed loan with LIC HFL, chennai. When I was enquiring with them about the procedures the process for switching to other bank, they have disabled by online account and I'm not able to login. When I call the tel. no. in website someone picking the phone, keeping on hold and dropping. Their Rate of Interst is very high and extremely poor and cold service.

SIR
I availed housing loan in lichfl at trichy. I already registered my loan number in lichfl. Now i am unable to login in lichfl. The reason is my email is not registered is occured while i login in lichfl. Ineed a solution how to register my email id. My lichfl housing loan no-[protected]. My email id is [protected]@yahoo.com

Hi,
You might have heard or seen many positive and good reviews about LIC Housing Finance Limited. But I don’t want to talk about how genuine those reviews are. Whether it’s been written by LIC Housing Finance Limited officials themselves or it’s really by the LIC Housing Finance Limited customers. I am here to share my horrifying experience and the bank has made my life more problematic, especially the LIC Bank Manager of the LIC Housing Finance Limited Koramangala Branch. His name is Vijay and he is acting like a very helpful person if you want to get a loan. Let me brief what exactly is happening at this branch, and the branch manager.
I have purchased a flat near Koramangala. We are almost 16 o[censored]s who have purchased in this project. We are few o[censored]s who applied for a home loan with the LIC, Koramangala Branch which has bought us a great disappointment amongst ourselves. I feel I am trapped by the builder and the bank. I do not wish to disclose my flat/builders name. Our home loans were approved.
After 3 months the Corporate Town Planning Officer came and asked me for the sanction plans, but as I do not have any such documents, I approached my builder for the same. They instructed us that it is with the LIC Housing Finance Limited. When we went to LIC Housing Finance Limited, they weren’t able to give me a satisfactory answer to us. After so much of struggle we finally managed to get hold of Mr. Vijay, LIC Housing Finance Limited Bank Manager of the Koramangala Branch. We threatened him in all possible ways to give us all the details. Obviously he didn’t help us at all.
When we tracked about his previous sanctioned home loans for other customers, we found out that he has illegally processed and approved home loans for more than 20 of them. By looking at the fake documents from the builders, he has gone ahead and taken bribe money of Rs. 1 Lakh from the builders and still went ahead and approved the home loans for them. As I mentioned before we have noticed that the same thing has happened for 16 o[censored]s till now and I am sure there are many others who would bring the same experience to light very soon. I really believed LIC Housing Finance Limited from many ages and never expected this pathetic service from a Government Institution like them. We have even planned to file a case with the police. I am taking time and writing this review, just not to ruin his career or anything, but I don’t want other customers to go through the same horror experience as us. I would be sending a copy of this email even to Mr. Vijay. We are also planning to send this to the Deputy Commissioner of Police, Bangalore.
I request you to take this matter very seriously and you can even visit the LIC Housing Finance Limited, Koramangala Branch yourself and have a look at the current issues going on there. I will be in touch with you all, and would even reveal my identity in the next conversations that we would share.
Regards,
Victim of LIC Housing Finance Limited,
Koramangala Branch www.lichfl.com

It is intimated that my policy no. is[protected] in the name of rajeshwari goel and survival benefit due on may 2013. I have already sent NEFT form and cancelled cheque to your office on 07/06/2013 but i have on received any payment cheque till date. Kindly take keen interest in above matter and solve my problem as soon as possible. Kindly inform to my e-mail account rajeshwari.[protected]@gmail.com for any action taken.

I was initially promised by the agent, Lakshmikanth, at LICHFL, Residency Road branch, Bangalore... that it would take a maximum period of 1 month for loan approval and disbursement for a pre-approved project and a completed one... its been two months since i submitted my documents... Loan got approved a month back... whenever i call them they say it will be ready the next day.. this has been going on for a month... i have already talked to the local office for speedy processing.. in spite of all this, there is no resolution... the agent has taken a week to check on a a document with the builder inspite of repeatedly fixing appointments with the agent..... the agent is asking for extra money... the project is completed and only awaiting registration.... i wonder how they get additional business... if you are looking for housing loan, LICHFL should be your last option....

Hi my name is H.Jayaram and I am the holder of this LIC marketing plus with existing numbers

[protected] and[protected] and I request you to send all the information and the details to my mobile number

as soon as possible I want the information about the amount that is left in my accounts I need the information

or by a call within an hour.

Dear Sir ,

This grievance is regarding thee claim of policy varishthea pension yogana policy No[protected] in branchoffice 111 of LIC at New Delhi of my deceased fatheer.



I Applied for thee claim on 7the May 2013 by duly submitting thee following in thee branch office 111 of LIC

1) Original policy Bond

2) original Deathe certificate

3) claim forms

4) cancel cheque for thee neft



The thee ref for inward no is PH/2013/039336/OS



But till date I have not heard any communication in theis regard .

I have called Mr Rajkumar AO Claims mobile no [protected] for followup I have been given very weired answer theat thee madam who is looking your case is on holiday trip to some foreign country once she returns she will do thee settlement .

I just want to understand theat such huge organisation is running on one single person.

It has shattered thee faithe of my entire family in thee such esteemed and old institution .

My motheer who is totally dependent on thee money insured by my fatheer is suffering because one LIC office person is enjoying holiday trip abroad .

who is responsible for theis and who will pay thee money no body is theere to answer .
Agent is also not picking up thee phone .






Can you pl. look into theis case and ask for thee immediate action to settle theis claim





Thanks


Manju

(Daughter-Nominee )

I have taken LIC policy Market Plus in 2010. I have not received any account statement till date from LIC.

I am not able to know the my LIC policy movement since I have taken LIC. I hope LIC will send the yearly statement to me after this complain.

I served as LIC Agent since 1994 and I resigned from my Agency [protected]in 2009. I have applied for Gratuity and the same was approved by Zonal Office in February, 2013. Since then I have not received the Gratuity. I have sent many personal reminders and also made personal visits but I have not yet received the Gratuity. I am not keeping well and I need this money very badly. It is not possible for me now to visit the Branch again and again. It is humbly requested to kindly pay my gratuity at the earliest.



(Anil Kumar Bagga)
Agency Code[protected]

Dear Sir,
My name is T.Bhaskarrao. S/o.Lalaiah. I am having 5 number of lic policies at Bhadrachalam branch.[protected],[protected],[protected],[protected],[protected]. and these are all with SSS mode of payment.In the month of december 2012 I was promoted to manager cader where there is no SSS mode of payment for premium.So I requested the branch manager by putting a request letter in the first week of May 2013.Up to now the mode was not changed.Already premium payment stopped for 6 months.Even though i am having money in my pocket I am unable to pay the premium. Please solve my problem.
Thanking you Sir.

DEAR SIR/MADAM
I AM A LIC AGENT SINCE 2006 WITH BRANCH UNIT -III ,B.S.ROAD JAIPUR.
SIR BY MISTAKE OF OUR BRANCH ADMINISTRATION ,MY TDS RETURN HAS FILLED WITH WRONG PAN NUMBER FOR LAST 3 F.YEAR.
SO MY TDS CAN NOT CLAIMED TO ME.I HAVE REQUISTED TO MY BRANCH MANY TIMES BY WRITTEN APPLICATION AND EMAIL TO FILL
REVISED TDS RETURN .BUT THERE IS NO REPLY .I AM IN LOSS OF RS 18000/- APROX FOR LAST THREE YEAR .
PLS ADVISE ME WHERE I COMPLAINT ABOUT THIS.
REGARDS
MANOJ KUMAR GOYAL
AGENT CODE 11708159
D.O CODE 383
BRANCH :LIC OF INDIA UNIT-III,B.S.ROAD JAIPUR

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.

DEAR SIR

ASK NO . [protected]
DATE/AY 21.6.2012/2012-13
PAN NO ABFPG9100R
RRR/BIN W[protected]/R00003/12
AO WARD-4 HSR

TAX 3470/ DID NOT REACH TO ME TILL DATE
PL DO NEEDFUL
THANKS
REGDS
SURESH KUMAR GARG

I own a LIC policy#[protected]. I am peacefully paying my premium to my agent since 2007. Last year I came up to create my LIC login ID and connect all my policies to it for ease o[censored]se.

Whenever I'm trying to register my uid along with my policy number on "http://www.licindia.in/NewUserRegistration.htm", I 'm getting an error message (Policy is already registered.Please try different Policy number.), Even though, I've never created user Id before.

I want to know how can somebody else could connect my policy with his/her user Id. I also contacted LIC helpline but all in vain.
Please help me out as I've to pay my annual premium but the system is bounding me to contact my agent.

Internet services provided by LIC are like they're cheating on us for the name of providing online services.

Help somebody...

LIC HFL charging more interest rates for existing customers. Here is my loan account details with LICHFL :-

Name: Hetal & Rajesh Shah
Loan# [protected]

My current interest rate on Home loan is - 11.9%. According to me, this is on a higher end. We did check with other banks and did research on interest rates.

LIC HFL charging lower interest rates to new customer.

I had sent many emails to LIC HFL executives on this and no reply till now.

Many banks are offering competitive interest rate(s) nowadays. Request you to consider this data and do needful.

Hi,

I am LIC customer having several policy, One of my policy got lapsed because of failure in ECS, Later on I realize and further ECS had not happened. Recently I approached my agent with objective to revise policy and willing nees to pay all due till date.

SInce I am out of India for my job assignment, I am not able to pass medical check up in India, Also i was in India and shown all willingness to pass medical check up but it was denied since policy belongs to different branch. Infect I was suggested to do the same at place where I am currently based. In spite of my several follow up with them they are not coming up with any way to revive this policy.

I see my payment which I made to insurance company till date in big risk since I am not getting my policy revived nor getting response from my agent.

Dear Respected Sir,
i am a LIC agent
i have requested many times for agent Login id &password.
But i haven't received it till today.
so can you please help me for getting my login id & password at my mail id given below.
Agent code[protected]
D.O. code - 5257011
Branch code - 314
mail id : avi.[protected]@gmail.com

Regards,
Dalchand Mahaur
M. No. - +91 [protected]