Life Insurance Corporation of India [LIC] Complaints & Reviews

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]

This is with reference to policy number[protected] Jeevan Chaya Plan 103, in the name of Shyam Sachdev.
I wish to bring to your notice that at the time of signing up the policy, LIC agent Mr.Prabhat Kumar of branch office 31A had given me a break up/summary details/quotation for the policy and had assured me that the figures/details given by him on 21/03/2006 were absolutely accurate. The bonus rate quoted/given by him per 1000 sum assured on Endowment type plans was @ 55, and he had calculated the entire bonus sum with the average figure @ 55 for the entire policy term of 21 years.
Now to my utter dismay and shock I have come to know that since the commencement of this policy the bonus rate per 1000 sum assured has been paid @ 48. There is a discrepancy of Rs 7 in the bonus rate which translates into a shortfall of 3500 per year. This would result in a shortfall of Rs. 73500 (seventy three thousand five hundred only) over the full term of the policy till maturity.
I am sure that Mr.Prabhat Kumar was fully aware that the rate of bonus would be 48 before hand. I find this unprofessional and unethical and certainly not the most effective way to increase client interest in financial products, specifically risk based products like life insurance and long term care.
I informed Mr. Bhagwan Singh, the branch manager of branch office 31A vide my email dated 18/03/2013 about this discrepancy. Having not received any response from him to my email, I called him up personally and spoke with him regarding this matter. He informed me that the matter was being investigated and that the department would inform me about the same. It was shocking and disappointing to hear from him that his agent Mr. Prabhat Kumar could not resort to unethical methods to get customers to sign life insurance policies, and enhance his commission payout, because he was one of the so called 'star agent' who had contributed greatly to LIC's revenues.
On 26/03/2013 I received an acknowledgement to my complaint reference number [protected] from the Grievance Redressal Officer of the Branch office/Zonal office stating that the complaint would be resolved within 15 days.
On 28/03/2013 I received a reply that the complaint had been redressed stating that “the bonus rates are declared every year by our corporate office. These rates cannot be predicted in advance. Inconvenience is regretted”
I find this resolution very contradictory. If the bonus rates cannot be predicted in advance then the LIC agent has no business to predict the bonus rate for a period of 21 years in the summary/quotation and mislead people and give false information to them? This means that his real intention is to only sell insurance policies and enhance his commission payout at the financial cost of the customers. I find this unacceptable.

LIC agent Mr.Elias was entrusted to take 4 policies for children between 5 and 11 by guiding 2 poor families with a proper insurance policies for which the families eldest brother living in Dubai wanted to pay the premiums of Rs.10000/ p.a. to safeguard these families(as his younger brother suddenly passed away due to dengue).The family completely trusted him on his advice but unfortunately on completion of the Tenure of 5 years,it was found that the policies were market related and after 5 years,these families were getting a mere Rs.1500/- more for the payment of Rs.50000/-.We want the agent to compensate these 4 policy holders with an interest amount @9% p.a.,as he had benefitted by these policies!(on my visit to the Head office,even the manager was shocked by agent's giving thesemarket related policies to these young children).I had been trying to contact but he does neither reply to my email or accept my phone calls. Emails attached below:
SAntanu Nundy
[protected][protected][protected][protected][protected][protected][protected][pr...⇄
From: [protected]@hotmail.com
To: elias.[protected]@gmail.com
CC: [protected]@licindia.com; [protected]@rediffmail.com;
Subject: Unreliable & Untrustworthy LIC agent must COMPENSATE!
Date: Thu, 16 May 2013 13:15:16 +0530

Mr.Elias,
as you are dodging me since months with respect to my policy & my friend's ( from Dubai)
brother's family which are all related to Market Plus/Market Related under your expert advice,i need
to inform you that these 4 Children's (FAMILIES LIVING ON POVERTY LINE,AS YOURSELF VISITED THEM TO GUIDE & ADVICE) policies taken out by yourself,you need to compensate them for the LOSS INCURRED (WHILE YOU WERE MAKING A FAT COMMISSION !) comparing t with Bank's interest @9% PA starting from 29.08.2007 till 28.8.2012 which works out Rs.65233.35 less LIC Surrender Value of Rs.51532,so on average approx Rs.13700 x 4 policies= Rs.54800.Even after knowing that FATHER OF 2 KIDS HAD PASSED AWAY suddenly,you did not resist from your INHUMANLY BEHAVIOUR and personal GREED.
On visiting the Branch 919 at Sir P.M. Road,Mumbai on 12th May'13 and after putting up these cases in front of the officer,they too were shocked & astonished of how could any agent advice such ridiculous Policies for children !
All the facts as mentioned below:
1) I requested you to GUIDE & ADVICE to take out 2 policies each for 2 families having children between the age of 7 & 16 whose uncle Mr.Thomas Dsouza from Dubai wanted to help & secure both his brother's children (both families living on POVERTY LINE and one of the brother had passed away suddenly due to Dengue).
2)Under your expert suggestions,you provided all 4 of them with Market Related policies (policy nos.[protected]/6 favouring Master J.J.DSOUZA AGED 15 YEARS & Miss J.J.DSOUZA AGED 7 YEARS) for insurance premium of Rs.10000 with sum assured of Rs.100000 for the term of 20 years (as i understand now after visiting the branch 919 that actualy you were making the mother beneficiary incase her children dies?? Is this a policy to safeguard and benefit these children who are of 7 & 15 years of age ?!!!).

As they did not understand these policies and trusted on your advice completely (due to my reference) and now they are completely shattered after knowing the facts of these policies from a friend of Mr.Thomas Dsouza (Dubai).
I am requesting you to give by cheque an amount of Rs.13700/- each (Calculation on the basis of interest @9%),favouring all 4 children,else i will take up this matter with Government officails and also Legaly..
Santanu Nundy

Dear Sir/Madam

With reference to the above file number i would like to bring to your notice the following issue which i'm facing since last Oct 2011.

My EMI was supposed to be around 14,000 as told by the executive and the manager, vijayanagar.
Unfortunately the EMI deducted was 6,419 and i had written a mail to LIC HFL on 11th Oct 2011 to deduct full EMI.
After Few EMI's drawn for 14,238 again it started for 6,438.And i was shocked to know my personal loan which was applied in Jul 2012 was rejected due to 8 check bounces from LIC HFL (Which was not in actual there were sufficient funds in my account and no were my bank statement reflects these check bounces).

I wrote the 2nd letter on 19 Jul 2012 to deduct the full EMI.I was asked to visit the collection department and met Ms.Bhavani on Jul 25 2012.Then i was told that there was some technical problem so it was reflected as check bounces and it was rectified/adjusted by Ms.Bhavani on the same day. (I have a letter duly signed by Ms.Bhavani stating it was a technical problem from LIC HFL)

I was told the reports will be sent to Cibil and it would be updated which dint happen.
Again after waiting for 2-3 months i again visited the branch to get it rectified in CIBIL on 9 Oct 2012 and got assurance for the 3rd time for the rectification of the mistake done by LIC HFL which din't happen.(I have a 2nd letter duly signed by Ms.Bhavani)

Since i had fed up of these false promises/assurances to correct their own mistake, i decided to stop making payments.

After which they started calling every month saying your account will be moved to NPA if you dont pay, when i asked to rectify the mistake they again said pay 15,000 and we will rectify that (This time it was Mr.Kannan who dose'nt open his mouth)

3 times i paid 15,000 cash every month hoping my problem will be solved. But it has not yet been resolved.

I am requesting to correct the mistake which is done by LIC HFL which you are not ready to do inspite threaten me of moving my account into NPA and so on. Now they are saying you clear all the dues and it will be updated/rectified.

How do you expect me to believe after so many false promises/assurances that my problem will be resolved. I have no issues to clear the dues once my credit ratings are normal in CIBIL.

As a last option before taking any hard decision my executive wanted me to write to you so that the issue will be resolved.

I request you to solve my problem which is not of my mistake, but still i have given plenty of chances to rectify the problem created by LICHFL.

I will be forwarding the mails written to deduct full EMI and send the scan copy of the letters issued by LICHFL stating it was technical problem if required.

1) After updating the mistakes in LICHFL system/technical why din't your people send mail/update the CIBIL?

2) Why did LICHFL(employees) assure me if i clear 15k it would be updated/rectified in the CIBIL? (this has done for 3 months continuously)

3) What action has been taken against the people who have done the mistakes (Initial technical problems and for not updating the CIBIL after rectifying the problem in your systems?

4) Why should i not file a suit in consumer court and civil court when i have all the written document s(proof) that it was not my mistake and also when i have given plenty of chances to rectify the mistakes done by LICHFL?

Regards,
Suresh Ediga

Ref : Loan Account No.[protected]

Dear Sir,

We have availed a housing loan from LIC Housing Finance,prabhadevi branch, for Rs.32,50,000/- Dt.28/06/2012 against our flat purchased at Hira Panna CHSL,Gandhi Nagar,Dombivli(E) 421201, in the name of Mr.Kunjilikattil Anoop Sivadas & Suchitra Anoop Kunjilikattil.

The above loan was sanctioned and disbursed through DSA agent Mr.Manoj Agarwal. Mo No.[protected] & [protected] Email: [protected]@yahoo.com

At the time of sanction of the loan,we were informed by the agent to take a Insurance policy for Rs.40,000/- and said, it was mandatory to take the policy against the loan approval.

And now from your LIC Housing Finance,prabhadevi branch, we came to know that, there is no such mandatory system,on taking the policy to get the loan sanctioned.

Moreover we have not received the original policy or any premium paid receipt of the policy,and the agent Mr.Manoj Agarwal is not responding to our calls or giving any feedback.

The payment for the policy was made by cheque,bearing cheque no.689612 Dt.20/06/2012 for Rs,39,033/- favouring LIC of India. We have sent a complaint letter to lic email id [protected]@gmail.com but of no use.


I kindly,request you to take the necessary action against this matter.

Thanking You,

Mr.Anoop K Sivadas
Mo.[protected]

POLICY NO .[protected]. I took policy from LIC branch A 14 kailash colony new delhi. the policy matured on 28/1/2013 but havent received any kind of payment. Please look into the matter and iform me for the same.

K K SRIVASTAVA
SE SHASTRI NAGAR GHAZAIBAD