Life Insurance Corporation of India [LIC] Complaints & Reviews

Dear Sir,

Greetings!

After repeated reminders, no one is bothered to reply and resolve the issue. For the ready reference, please refer the trail mail which i received from PCMC on my personal ID [protected]@gmail.com on 15.11.2011


The BO involved in the issue is BO- 533, (sitamarhi). Please look into and resolve the issue.

Regards,
Amit Hisaria
[protected]


From: pcmc. cell [mailto:pcmc.[protected]@licindia.com]
Sent: 15 November 2011 12:49
To: Amit Hisaria
Cc: bo_533
Subject: RE: Policy No[protected]
Importance: High


Dear Sir,

The amount is received through Bill Pay & accounted on 17/10/2011. Kindly check the transaction in TIBIN & update the FUP.


With regards,

Adm. Officer ,
PCMC CELL/CO/CRM
LIC OF INDIA, MUMBAI
________________________________________
From: Amit Hisaria [mailto:[protected]@gmail.com]
Sent: Sunday, November 13, 2011 9:53 PM
To: pcmc. cell
Cc: bo_533
Subject: Policy No[protected]

Dear PCMC Cell Team,

I made a payment for my LIC no[protected] via credit card. The payment was received on 17th Oct 2011 as reflected in the electronic receipt attached. However the servicing branch denies of any such payment. Please clarify.

Regards,
Amit Hisaria
[protected]

Over the last several years I had taken many insurance policies from LIC. I did not receive the 15 days free look offer as prescribed by IRDA along with any of these policies. Now, in regard to one of the policies, I am contesting their rejection of my claim in the court. But LIC says that they have sent such a letter . There is nothing mentioned in the policy document itself. How can I prove that LIC is not stating the truth.
C. R. Panicker

Date 12th January, 2012.

To,
The Branch Manager,
LIC, Panvel Branch, Panvel.
Dist Raigad, Thane.

SUB ULIP PLAN - SURRENDER VALUE RECEIVED LESS THAN PRINCIPAL

Dear sir,

This is KL Gaikwad LIC agent from Panvel Branch with working since last 5 yrs.

I brought various clients under ULIP Plans and I would like to bring
your attention towards their policy returns.

After three years of time period when some of them requested for
surrender their policies, they learnt that instead of earning any
interest on it they have lost 17-20% of their basic principle
invested.

For example in below chart we have found that one of policy holder who
has invested of Rs. 30,000/- (Premium amt 10,000/-X 3 yrs) and after
completion of 3 years he received only of Rs. 24,913/-.

Sr No. ULIP Policy No. Policy starts dtd. Surrender dtd. Policy
principle amt invested Surrender value recd
1 [protected] 14.08.2007 24.11.2011 30,000.00 24,913.00
2 [protected] 14.08.2007 24.11.2011 30,000.00 25568.00
Kindly refer following chart;

All above are invested in LIC for short term with hoping it’s a Govt
sector and would give better interest money than other banks & Post
office. After three years of investment when some of them went for
surrender they found shocking & unexpected result. On their investment
they have earned zero interest money and at the same time they have
lost 17-20% of their basic principle.

I personally was not expected that they will lose their principle
amount. As per my knowledge they should get at least their principle
amount after 3 yrs of investment.

On behalf of my clients I would like state you that it has happened
not in single case but with everyone who surrendered recently. And
other who not yet surrendered are also scared & expressing their
unhappiness towards LIC.

Please understand the fact above that all that have taken these ULIP
Policies & surrendered above are unskilled & from poor family
background. They suspended their children’s education and saved the
money & invested in LIC. And this result is entirely unexpected. They
are very much unhappy & literally they are crying. I too am surprised
with this result. At least they should get their invested principle
amount.

We had bad experience when we taken this matter to Panvel Branch
Officer Mr Patil few days back. And he simply refused to entertain us
in fact he blamed us that policy holders accepted the terms &
condition with signing application form. He completely raises his hand
in this circumstance.

Sir, On behalf of my all clients I request you to please reconsider
the matter above with revising the surrender value with appropriate
returns. And I hope you will understand the matter and shall do the
needful for us. I have enclosed here the copies of cheques & surrender
details for your kind reference.

Thanking you,
Yours truly,
KL Gaikwad

Dear Sir,

I, Prafulla Ranjan, resident of C-28, Road No. 8, Vijay Nagar, Behind Agrico Company, P.O. Agrico, Jamshedpur 831009, have taken a loan against LIC Policy No. [protected]JEEVAN SHREE) for Rs.150000.00 (Rs. One Lac Fifty Thousand only.) for treatment of my accident which resulted in hip-joint fracture. I want to service the loan from my place of residence, as regular travel is not possible for me.

As per LIC Sakchi Jamshedpur branch policy transfer during loan period is permitted as the policy REMAINS WITH LIFE INSURANCE CORPORATION only.

LIC Chapra branch-2 is not responding to my mail or telephone calls. When contacted through my brother, who was there for some person job, LIC Chapra Branch-2 clearly said that policy can-not be transferred during loan period, and the same may be released only after complete loan re-payment.

This type of special rules are formulated and in-forced by LIC Chapra Branch-2. Please look into it so that I can service my loan at the earliest and easily. for you ready reference pasted copy of e-mail is given beelow:

"Quote"
From: [protected]@hotmail.com
To: [protected]@licindia.com
Subject: FW: Request for transfer of policy no.[protected] from Chapra to Jamshedpur Branch-3
Date: Sat, 24 Dec 2011 19:12:46 +0530

Dear Sir,

Please keep me updated on the development.

Thanking you.

Prafulla Ranjan
From: [protected]@hotmail.com
To: [protected]@licindia.com
Subject: Request for transfer of policy no.[protected] from Chapra to Jamshedpur Branch-3
Date: Thu, 22 Dec 2011 15:58:56 +0530

Dear Sir,

My sellf Prafulla Ranjan, S/o Mr. Ramakant Sharan Verma,AT SAHEBGANJ, BUTANBARI, CHAPRA 841301, is having a policy bearing no.[protected] dt. 28.12.2001. I ma presently living in Jamshedpur at the address giveen below:

Prafulla Ranjan
C-28, Road No.8, Vijay Nagar
Tata Line
Behind Agrico Co.
P.O. Agrico
Jaamshedpur - 831009.

I have a loan of Rs.150000.00 against the policy no.[protected]. To service the loan and monitor the same on regular basis, I request you to transfer the referred policy to the following address:

Life Insurance Corporation of India
Jamsheddpur Branch-3
Branch Code - 55F
AKASH BHAWAN, 89/A
WATER TANKS ROAD
NEAR [censored]LA MANDIR, SAKCHI
JAMSHEDPUR - 831001
PHONE NO. 2426121

Thanking you in anticipation of a quick and positive response.

Your's faithfully,
Prafulla Ranjan
"Unquote"

Dear Sir,

I, Prafulla Ranjan, presently residing at 28-C, Road No.8, Vijay Nagar, Behind Agrico Company, Jamshedpur - 831009 have a L.I.C policy no.[protected] of JEEVAN SHREE from Chapra branch no. 5012. I have a loan of Rs.150000.00 against this policy. To service this loan I want my policy in my residential town, as I have undergone a hip-join surgery and not able to travel. As per LIC Sakchi Branch in Jamshedpur, policy can be transferred even if loan is there, as the policy remains with LIFE INSURANCE CORPORATION only.

I want this policy to be transferred to the address given below:

Life Insurance Corporation of India
Jamsheddpur Branch-3
Branch Code - 55F
AKASH BHAWAN, 89/A
WATER TANKS ROAD
NEAR [censored]LA MANDIR, SAKCHI
JAMSHEDPUR - 831001
PHONE NO. 2426121


I have sent e-mail for this action to the concerned branch and they have not replied to the mail. They are not responding to telephone calls too.

After I contacted my brother, who was in chapra for some personal job, he in turn contacted LIC office there and they are saying that policy can-not be transferred as the loan has not been cleared. There is gross confusion regarding rules-regulation of policy transfer. Also LIC Chapra Branch-2 is trying to formulate special laws as per their choice.

Please look into it and help resolve this issue.

I reside in punganur. I purchsed lic market plus,table 181 policy no.[protected] on 26.12.2006
from an lic agent and paid Rs.25000/- .he said that I will get Rs.50000/- on meturity ie., on
[protected]. But recently I received a letter that I will get back Rs.27000 or so for the policy
asking me to come and take it as the due date is over. This letter has come from palamaner.

I want know why this shortage of the meturity value while the agent had assured me a return of Rs.50000/-

has the agent wrongly assured me without proper knowledge of the policy?

Is this policy subject market changes and does not assure a fixed return?

Dear Sir,
The applicant most humbly submits as under-
1.That the applicant holds three policy of LIC bearing nos.i[protected],ii[protected], iii) [protected] plan 161. .
2. That the applicant has been receiving interest money to the tune of Rs.7505/-, Rs. 7505/- and Rs.8443/- respectively against the above said policies every year by the end of each year regularly and the last payment was received in the month of november 2010 by the applicant.
3. That on the proposal of the LIC authorities the provision of direct deposition of the interest money in the bank account of the policy holder was opted by the applicant and the interest money was being deposited directly in the bank account of the applicant bearing no.[protected] in bank of India situated at mai hiran gate jalandhar city.
4. That upto year 2010 the deposit was made without any problems in the above said account of the applicant by the LIC of India.
5 That in the year 2011 no deposits have been received by the applicant till today, and the applicant has made several visits to the LIC office near skylark hotel jalandhar but the same have not yielded any results. The applicant has already duly submitted the certificate of existence in the office of LIC.
6. That the applicant has made many phone calls to the office but is receiving assurances only and which are not assuming any real shape.
7. That the applicant is a senior citizen and is as such unable to make repeated visits to the office of LIC and is getting a lot of troubles on this issue.
8. So the applicant requests before the appropriate authorities to intervene and direct the concerned officials to take up the matter at the earliest so that the applicant does not get harassed un-necessarily.
Anticipating an early response from your good self.
Thanking you,
Balkrishan kundra
N.D 179 Bikrampura
Jalandhar Citry.
Mobile No. [protected]

Dear Sir,

Sub: Changing the mode of LIC Payment and Correction in Nomination name.
Ref: LIC Policy No –[protected]

With reference to the subject cited above, I would like to bring to your kind notice that I was working in Kirloskar Ferrous Industries Ltd, Hospet for a period of 2 years and recently resigned job and started to work in bsangalore. During my tenure at Kirloskar premium for the above said policy was paid through salary deduction and unfortunately due to my resign from Kirloskar premium was due since Sep-2011.

In relation to this, I was planing to change the present monthly mode to quarterly payment mode after paying my dues. In this connection I wrote one letter dated[protected] to the Branch where my LIC Policy was exists i.e Hopet Branch, Ballary Dist and sent the same through courier on[protected] and Hospet branch received my courier on[protected] as per the delivary record mentioned in Professional Courier tracking.

Inorder to checkout the status, I am repeteadly calling Hospet Branch and no body is receiving the call since 8 days. Some times phone will be busy and one of LIC agent from hospet said that, during office hours LIC officials will not receive any outside calls. I belive the statemnt given by the agent since I experienced the same while calling.

LIC officials are required to extend co-operation and help since they are the service providers. Now how can I get the Status of my LIC Policy? Is it the way of giving service? If I visit branch personally, I need to spend around 2000/-rupees for transportation and accomodation since I am staying in Bangalore and from this amount I can pay one LIC premium. Just think over it and then you will realise the fact.

I can agree that, there is a mistake from my side by without paying the dues and for this there is a genuine reason and I had attempted to know the status of my policy. Despite, I am unable to get and check the status of the same. Telephone is the only communication media which I have, to contact the LIC branch and that media is unuseful just because of the attitude of the officials who are working there.

Further, Correction in nomination name is not my fault since I had provided the correct name of my nominee and you can check the same. They are giving work for us and were not co-operating with us to extract work from them.

I kindly request you to go through the complaint and kindly obligue.


Thanking you,
Yours Faithfully,
Nataraj A.V

Dear Sir,

Pls note I had apllied for Home loan in LIC housing ,
Avinashi road branch, coimbatore and canceled the same on 02.08.11.

I have given processing fee cheque of Rs.5515/- at the time of
submission of application before loan approval itself.

I have canceled my loan on 02.08.11 as i was not satisfied with their service.

Still i have not recd My processing fees refund.
File NO: 34770

Kindly help me in this matter and arrange for my refund of my
processing fees asap.

Second Reminder

Once again I am forwarding my complain with attach all the Id Proof for your kind consideration at an earliest.

Dear Sir,
I introduce myself as N.B. Ojha a resident of Dalla, Dist: Sonebhadra, U.P. I am been associated Jaiprakash Associates Limited for last two and half years and posted at Dalla Cement Factory presently as Environment Engineer. It is with great interest I would like to express, I am been cheated by an LIC Agent Mr. Dharmendra Singh (Agent Code No.[protected]/344 O- Block Geeta Nagar Kanpur Service Branch-409.
Matter is like I came to know this person during enrolling of my LIC Pension Plan Policy at Kanpur Region LIC office. Since then he was unceasingly in touch and let me knowing various new schemes of LIC time to time. Five months back I got to know from his end about an eye-catching scheme of LIC like if anybody is paying one extra premium, they shall be amplifying the premium amount. So, I became quiet certain to take advantage of the scheme as per my benefit. For the same I paid a sum of Rupees 3,00,000 on behalf of my premium to him and in return he gave me right away four post dated IDBI Bank cheques of Rupees 6,00,000. When I deposited the cheques in due time all my cheques provided by him were bounced.Copy of same is enclosed for your refrece and records. In this regard I passed the information to him immediately and on the same he asked me to wait for two more days. Days went on and he was managing himself with his hypocrite words. Then he immediately detached all communication with me. Now I am unable to get back to him either by physically or over phone from last one month. He has also beguiled not less than 10 of my colegues by taking an amount more than 18,00,000 rupees from them on single day. And now he is not responding to any one of them.
Now I am compelled to pen down these words to you, for let him pay for his sin to make my trust for law alive.
Therefore, my sincere request to you for your kind consideration and necessary action may be taken against him by the court of law.
He is also interested to contest in election from Uchahar Raibreli District Utter Pradesh. So recentally he is living at raibrelli on Rent Basis. His permanent and Local Address with mobile no is as follows:
Permanent Address: Local Address:
Er. Dharmendra Singh Er. Dharmendra Singh
Village: Baharampur C/O Ajahar Khan
Tahsil: Dalmau behind Sadar Tahsil
District:Raibareli (Chand Aatta Chakki)
Mob No: [protected] Indra Nagar Raibreli (UP)
Email: [protected]@indiagroup.co.in
Account No.(IDBI Bank):[protected]
Account No.(Axis Bank):
Encl: 1.Photo
2. All Check detail

LIC Housing Board Ltd get from me the amount for Housing Loan processing purpose at the time of November 2009 and my cheque also debited into my account at the time of December 2009 for around 18500/-. But LIC not processed my Loan and they told to me this amount will be adjust if you avail any loan against property other will refund after six months. Reference of LIC Loan File Number :[protected] November.

Kindly help to get refund this amount with Interest

I was told that the policy bond & sb cheque has sent via speed post to res. address the reference no.being-ED[protected]IN THIS CHEQUES DELEVERED ANY OTHER PERSON
MISTAKE BY OF LIC

But still hv not recvd.we have personelly regular visit from one month in branch (no:310) office but they do not responce properly.

So you are requested you Kindly investigate the same issue a duplicate cheque + policy bond (with intrest)

For your reference enclosed herewith copy of Recieving.

We shall highly obelige and thankful to you
Your earliast action will be apreciated.


Thanks & regads
sant lal yadav
[protected]

༯span>* Mandatory Fields
*Name of ComplainantMr.
Communication Details༯span>
*Door No./ Bldg/Name/ Floor༯1479h. no.
Street / Area༯jain nagar
*City/Town/Panchayath/Village༯delhi
Taluk/Tehzil༯span>
District༯karala
*State༯delhi
*Pin Code༯110081
E- Mail༯[protected]@rediffmail.com
Telephone No༯[protected]
*Mobile No[protected]
Fax No༯span>
*Insurance Type (Please mentioned Insurance Typeࠠ༯life
*Life
* Non Life
*Insurance Company Name༯lic
*Date of Birth of Policy Holder༯25 08 1985
*Policy No:༯[protected]
Cover Note:༯100000
Other Reference No:༯
Policy serving Brach Code/Address༯darya ganj 110006
*Details of the Complaint (Please type the full details of the complaint)༯they sold me a market basaed policy which i never demanded without telling me about this plan
*Have you Approached Insurance Company Regarding This Grievance (If Yes Provide Ref No )༯i approached crm delhi on 16 dec 2011, they are denying to give my money back with interest.
༯span>༯p>
Regards,༯p>
Consumer Affairs Department ༯p>
IRDA༯p>
Basheerbagh༯p>

I have applied to LICHFL for home loan on 7 sep 2011. They have issued Sanction letter on 29 sep 2011 . Still they didn't disburse the loan . My builder has waited for 4 months. Now he is cancelling my allotment as I have not paid the amount.

LIC people has purposefully/lazily delayed or revoked my disbursement check. This case is for Secunderabad branch of LICHFL.

I have searched for my dream for 3 yrs and after my hard work when I found one. Because of these LIC guys , I am on the verge of loosing it.

I met the manager(Mr Sripathy - Secunderabad branch ) on Friday 23 rd Dec and he said your file is ok, dont worry you will get the cheque by Monday (26th Dec ). When I didn't get the cheque on Monday , I met him again on Tuesday 27th Dec. He said you will receive your cheque no by tomorrow (i.e. 28th Dec).

When I contacted him today(i.e. 28th Dec) ... He is saying since your sanction letter was for 90 days and its over. You have resubmit your payslip and bank statement and then have to restart the sanction letter process and then disbursement will take place later on ( may be 3 months again as it took just for approval being readied in 90 days).

Vipin

I am on the verge of loosing my flat because of these LIC guys .

Hello Sir/Mam,

My Policy Details are as follows:

LIC Policy No:[protected]

I lost my LIC Premium Receipt for the year 2011 to 2012.

I want to submit the Premium Bill for my Tax Investment Proof.

It would be great if you could you send me the Duplicate bill to my mail ID: [protected]@hcl.com

Its very urgent, Sir please do the needful ASAP.

Thanks in Advance
Chitra Sundaram

Dr.Ajay Shankar Rajoo
Advocate Mobile:-[protected]
Table no 4. West Verandah
Advocate Association
Patna high Court
Patna 800001
Ref: Ashwini/LICI/Legal/2011/02. Date-28/12/2011

I) The Chief Manager ii) Mr.Aarif Abbash
Development Officer
LICI of India Branch III LICI of India Branch III
4th Floor jeevan Deep Building 4th Floor jeevan Deep Building
Exhibition Road Patna Exhibition Road Patna
Respected Sir,
Under instruction of my client Mr Ashwini Kumar Sharan , resident of Panchsheel House, 23. Telegraph Colony, Kidwaipuri, Patna 800001 who represented himself before you by a letter ref LICI Br 3/2011/01 dated 27/12/2011. I have to serve you this Legal Notice as under:-

01. That the Agent of your Branch visited to my client for taking a Policy of LICI and on perusal of the Policy documents and Literatures my client had taken a Policy bearing Table no 88 term 28 years
vide cheque no 546423 valued Rs 11,149/: dated 10/11/2011 pay to Life Insurance Corporation of India Branch 3 Patna which was returned to my client on 15th December 2011 by the Agent with request to give a New Cheque only mentioning Life Insurance Corporation of India.

02. That my client issued a fresh cheque bearing no 29296 amounting to Rs 11,149.00 vide cheque no 29296 and one photographs and duly filled the form no 300 of proposal and put his signature on the required space.

03. That after encashment of cheque no 29296 amounting to Rs 11,149/ my client on Telephone contacted your Agent for Receipt but exclaimed to know that an amount up to Rs 700/ extra have been deposited as the Development Officer Mr Aarif Abbash change the period of Policy from 28 years to 25 years without taking consent and signature of my client on the correction made by the Development Officer Mr Aarif Abbash on form no 300 duly filled by my client.

04. That the Agent had given Mobile number of D.O. to my client and on mobile my client when contacted the said Development Officer my client come to know that Medical Officer had examined and submitted the Medical Report too without examining my Client further Mr Aarif Abbhash commented that you are non matriculate hence you are not liable to get the Policy in Table 88 for 28 years.

05. That seeing the act behave and arbitrary action and creating forged proposal with an intention of Cheating and making law for his own benefit by a Development Officer it is highly misappropriation of conduct of service rendered in the name of Life Insurance Corporation of India.

06. Hence it is requested to your good self to rectify the documents and issue the Policy Documents as per law and if not by stating complete reason refund the amount with interest to my Client otherwise my client will move to the Court of Law Against this act.

07. That a copy of this Legal Notice is kept in my office for future use.

Dr Anand Shankar Rajoo (Advocate)

let me know the status of my current policy no[protected] dated28/3/2008.My policy amount is Rs.5000/ yearly.Till today no statement has been sent to my address.Please let me know how much i will get if i surrender it today and present condition as soon as possible.

policy no[protected] of lic varistha nagrik bima pension plan .I had sent all documents to Ipp cell 11th floor tower IIJeevan bharti Lic office 124 cannaught placenew delhi -110001 on[protected] for surrending policy & making final payment to me. but so far no responce recd from them .Even ihave not recd acknowledgement of my policy sentto them by regd post.
mk dixit Mpb -89 mahavir nagar -I Kota 324005 .tel[protected] moile [protected]
Email [protected]@gmail.com

I am Anant Gopal Sharma from Jaipur. I have purchased an Insurance plan of Life Insurance Corporation of India ( LIC) on 15.05.2010. The plan name is Jeevan Saral. The payment mode for this policy was ECS. They have alloted me policy no[protected] in first premium receipt,commencing from 15.05.2010. The ECS has been cleared upto 15.04.2011 (12 installments) later on no ECS has been cleared from my bank. When i tried to enroll my policy on LIC website it continiously shows that this polciy number doesnot exist. LIC collected Rs 24504/- in 12 monthly installment and now not giving the Bond and even not accepting that they have issued a Policy of this no. Several attempts have been made by me to enquire about the status in my local LIC office but my labour goes in vain. Please look into the matter so that my policy remains in force.

Sir,

I got two lic policies on my name. one is at Jeevan prakash bldg, unit-II, Sector 17-B, chandigarh branch and another is at
Jeevan jyothi bldg, jawaharlal nehru marg, ambala cantt branch. My chandigarh policy no[protected] and my ambala cantt policy no[protected].
Iam working in Indian Airforce and going to discharge from the service after completion of 20 yrs. I requested both the branches to transfer my policies to hyderabad as iam going to settle after retirement. I had send the requests and letters through mails and postal to transfer my policies but, no action been taken till now. My last request by letter in my writing was given from New Delhi Subroto park when i went on service work. I had speed posted the letters but unfortunately i had unable to retain the slips with me. Sorry for that.
Pse do the needful and intimate them to transfer my policies to Habsiguda branch, Secunderabad. So, that i and my family will be relaxed not going too far after maturity.
My E-mail ID : [protected]@gmail.com
and contact no. 91-[protected]