Life Insurance Corporation of India [LIC] Complaints & Reviews

Sub Loan A/c no. 10066936 dated 19/8/2010, Application no. 612097

Madam,

This is in continuation of my earlier letters dated 27/7/2010,28/8/2010 and 30/8/2010 (copy enclosed) which remained unattended so far. This is the type of service LIC is providing to its customers. I would again like to bring to your notice the following apart from the issues raised in my earlier correspondence:-

1. I have paid Rs 1828 towards interest charges for the period 08/2010 to 08/2010 vide cheque no. 960951 dated 30/8/2010 where as the disbursement cheque was bounced back due to wrong name mentioned in the disbursement cheque issued by LIC. The disbursement cheque was returned back to LIC for necessary correction and it was received back from LIC only on 21/8/2010 which was credited to the account of the party only on 26/08/2010. This is a matter of record and may be verified from the LIC a/c with HDFC. I am not liable to pay the interest from the date of cheque issued by LIC i.e. 31/7/2010) (refer my earlier complaint dated 27/7/10, 28/8/10 and 30/8/10). Accordingly I would request the paid amount of `1828 may be adjusted against principal amount of loan in LIC a/cs. It is not understood on which account the interest is being charged from me when the disbursement cheque was not realized till 26th August, 2010.

2. As the disbursement cheque was not realized before 26th August, 2010, (it is a matter of record) LIC does not qualify for interest from the loan before one month time in that case. That means LIC is entitled for interest only after 26th September, 2010. Accordingly, the first EMI should have started after 26th September, 2010. I would request to readjust the EMI from 26th September, 2010.

3. Vide payment details in respect of above a/c (copy enclosed) the EMI is fixed to ` 19060/- which is enormously on higher side and not in conformity with the term of loan and rate of interest there of prescribed. The issue was at once discussed with the official concerned (Shri Guarav ) but he pressed his point further that it is a LIC generate programme and is always different from EMI calculators in the market. I have shown a chart prepared by myself but he refused to entertain the same. I have deposited a PDC no. 960952 dated 5/9/2010 for ` 19060 on 30/08/2010 as first EMI to this effect.

4. Earlier I had been sanctioned `. 20,00,000/- loan for repayment term of 17 years vide offer of loan letter dated 22/7/2010. In response to above, vide my letter dated 27/7/2010 I had requested to restrict the loan amount to ` 15,00,000/- for repayment term of 15 years. Though disbursement cheque issued by LIC was for `. 15 lakh but probably EMI still continued to be fixed on sanctioned loan amount of ` 20 lakh for repayment term of 17 years. Necessary correction may kindly be made in computer system and the excess payment received by LIC may kindly be adjusted against principal loan amount in my LIC loan account with levying 2% penalty for part payment.
5. mY ECS A/C has not been streamlined despite completing all the formalities at the time of applying for loan itself.

Thanking you,
Yours Faithfully,


(J.S. Rawat)
[protected]

Copy for information to:
1. Mr.Mahendra Kumar, Regional Manager, LIC HOUSING FINANCE LTD., 2nd Floor, Jeevan Deep Building, 10, Sansad Marg, NEW DELHI - 110 001.
2. Ms Chhabi Saxena, LIC Housing Finacne Ltd, Grievance Cell, Laxmi Insurance Building, Asaf Ali Road, New Delhi.

Note:

The Above Posts are purely temporary For 03 years only

Compensation:

Direct Sales Executives, on engagement will be paid monthly remuneration, which will be entirely performance

based. An amount of Rs. 25,000/- per month will be payable on achieving the business parameters, as prescribed

in the Scheme. However, the same can be higher or lower, depending

upon the business performance. There is no upper limit to earn the remuneration based on performance.

Compensation:Rs.25,000/-P.m

I AM HOLDING 5 LIC POLICIES NUMBERED[protected] TO 18, ISSUED AND ADMINISTERED BY BRANCH NO. 89 - C, BORIVALI (W), MUMBAI 400 092.I HAD APPLIED FOR CHANGE IN BANK ECS MANDATE FROM ICICI BANK TO HDFC BANK FOR PREMIUM PAYMENT ON MY ABOVE 5 POLICIES . LIC AGREED TO MY REQUEST AND WROTE ME ON 17.02.2009 CONFIRMING THE NEW BANK NAME, BRANCH A/C NUMBER, BANK MICR CODE AND OTHER DETAILS. THEY ADVISED ME TO PAY MARCH-2009 PREMIUM FROM OLD BANK A/C WHICH I COMPLIED WITH. THEREAFTER I HAD REDUCED THE USE OF MY ICICI BANK A/C AND I WAS NOT KEEPING LARGE BALANCE IN THAT BANK A/C IN MARCH-2010, THEY MADE ERROR AND SENT ECS COLLECTION INSTRUCTION TO MY OLD AND DORMANT ICICI BANK A/C WHERE SUFFICIENT BALANCE WAS NOT AVAILABLE, WHEREAS I WAS READY WITH SUFFICIENT AMOUNT IN HDFC BANK TO HONOUR MY PREMIUM PAYMENT LIABILITY. DUE TO INSUFFICIENT BALANCE, TWO ECS INSTRUCTIONS FAILED AND ICICI BANK SLAPPED A FINE OF Rs. 276+276=552.
I HAD LOT OF CORRESPONDANCE WITH LIC BRANCH, LIC OMBUDSMAN AND IRDA OFFICE , BUT LIC IS REFUSING TO REIMBURSE ME THE ABOVE LOSS WHICH OCCURED TO ME FOR NO FAULT OF MINE.
I HAVE KEPT ALL THE DOCUMENTS TO SUPPORT TO SUPPORT MY CLAIM.
LIC BRANCH NO. 89-C, BORIVALI (W), MUMBAI 400 092 IS LIABLE TO REIMBURSE ME THE ABOVE LOSS PLUS OTHER EXPENSES I INCURRED TO REDRESS MY GRIEVANCE.
APPLICANT : MR. TEJAS PRAFULCHANDRA SHAH
CONTACT : (R[protected]M) [protected]
E-MAIL ID : [protected]@yahoo.com / [protected]@rediffmail.com / [protected]@rediffmail.com

My brother Late Pintu Jee had died in December 2009 by Train accident (during passing man less railway crossing). We have submitted all documents (as per required by LIC) on 28/01/2010 to LIC Patna Main Branch-4 for death claim by nominee his wife KUMARI ALPNA BHARTI.
Death claim details are:-
Name of Insured person : Late Pintu Jee (Policy Holder)
Policy Number :[protected]Agent Code-2425550, Branch code-550, DEO code-550)
Name of Nominee (Claimed by) : Kumari Alpna Bharti (Wife)
Application for death claim deposited on : 28/01/2010
I would sadly inform you that no any LIC person came for verification and LIC agent Mr Satyendra Kumar Singh (who given policy) & DEO Mr. D.J.Roy is not taking any interest. We contact many times to LIC office (LIC MAIN BRANCH-4 where application is submitted) no body is giving response & correct information. Sir please help her she (Nominee W/O late Pintu jee) is in very poor condition with newly born child.
So we requesting from higher authority of LIC to please consider our application/case as soon as possible. So we can make faith on LIC.

My mother policy is issued by lic jhabua (M.P.). After completing the term lic issues the bonus check. After issuing the bonus check to lic officer give the check to agent with my mother and father information. When we ask to agent he told us to first you open the new policy then i will give you the check. We are facing this problem last 6 month. Please give me the suggestion what we do regarding lic jhabua branch and agent.

Hi,
I have availed Laon from LIC for 15 lks. I payed the PRE-EMI when the House was still in construction.
I have applied to LIC that my house was completed and to change the pre-emi option to EMI option ..
My agent agreed with that and got a letter from me . But After Two months , still they didnt change it and i am paying PRE EMI only .... ( I am paying the Interest only not the principal...).

Sir, I'm PADMAJAN K Money back Policy No.[protected],Sum assured Rs.50000,payment mode is SSS having a problem when I was transferred from Bangalore to Hyderabad for more than a year.11 months premium (December 2005 to October 2006) @ Rs.221 per month has been deducted by my office ie. SURVEY OF INDIA, S.T.I, UPPAL P.O. HYDERABAD-39 and remitted to LIC Hyderabad City Br.III at Nampally.But when I contacted CB-III, they informed me that the amount has been sent to divisional office.Now I had paid those eleven months premium for the second time in my LIC Residency Rd.Br. (CB-4) Bangalore (Receipt No.3077975 dt 23/08/2010 Tr No.32775 Ser Brn:614) since the 15th year survival benefit was due in August 2010.Kindly rectify this and refund me the eleven months premium which has been received by LIC CB-III Nampally at the earliest.
Thanking you,
Padmajan K
[protected]
[protected]
My UNION BANK OF INDIA SB A/c.[protected]

Hi,
I am working in bangalore and has taken the loan in chennai thru LIC HFL.They have sanctioned the initial amount without any trouble.But now for Pre-EMI payment they are not accepting the ECS mandatory form and cheque.
The reason they are saying is because i am having the account in out of station.Now They asked me to open the new account in chennai.
I just wanted to know whether this is valid reason?.Is there any RBI regulations like that?.I didn't have this problem in other banks.why LIC HFL is doing like this?
Whom should i launch the complaint?.

My Policy No.[protected]. I have taken this policy when I was in Nagothane.
I have moved to Hyderabad.
I have sent a request letter to transfer my policy to Hyderabad, on 9-July-2010. There is no response yet.

can you please forward this complaint to concerned deparment.

Thanks

Regards
Rajesh Venkatesan.

sir

i have an insurance policy no.[protected] for which premium of s. 3768 has been paid through allahabadbank internet banking on 28.08.2010. my account is debited by the same ammount but in your website premium receipt details are not available.

please look into the matter and make available the premium receipt in your site. thanks
yogesh kumar sharma
e-mail [protected]@yahoo.com

applied for credit card with appln no 120586 dtd 30/06/2010.reached u on 03/07/2010. not informed the status of the card processing as on date.Toll free no always gives prerecorded voice reply. My details are as under; Name: Vinayak Vedalaveni DoB:04/05/1958 email Address: [protected]@gmail.com Mobile No:+91 [protected] ;+91 [protected] Lacking quick & efficient service.

Sir i want to inform you that Mr NISHANT RANJAN ,one of the trainee ( Batch JULY 2010) of lic dircet sales executive (EAST ZONE- RANCHI ) has concealed a fact that he is an Advocate during his recruitment process.As per rules of Bar council of India a practicing Advocate cannot take another profession ,so he is cheating not only his own legal profession but also the organisation LIC.Also he has concealed his recruitment news in LIC to RANCHI DISTRICT BAR ASSOCIATION of which he is a member So a strict action should be taken against him ane he should be relieved of his job.Also a complaint in RANCHI DISTRICT BAR ASSOCIATION regarding him is posted by me.Mr Nishant Ranjan is an enrolled Advocate of JHARKHAND STATE BAR COUNCIL AND RANCHI DISTRICT BAR ASSOCIATION.

Premium due date is 28/08/2010. Last premium paid date is 12/02/2010. Today is my premium due date.

When I tried to pay through through https://www.licindia.in

got message "[protected] Policy not in Force (Please contact your branch office)"
I dont want to make late payment or dont want any mess up.
And also unable to register compaint from that site and the message says

"Dear...

My LIC Money Plus (Plan 180/10) Policy No is[protected]. I have paid 10000 each during Oct/07, Oct/08 & Oct/09. Now what should i do . There is risk cover of one lac, so far i have not received any statement of accounts. i would like to know the following
1. Should i need to pay 10000 again in Oct/10 or how will i proceed?
2. What is the present status of my policy?
3. What rates the units were purchased?
4. Are all three instalments clubbed together?
5. How can, I track the progress of my policy on the internet.
6. Should I deposit my premium in any branch of LIC around Delhi
Kindly let me know, what should i do in Oct/2010 to renew or ... what is the procedure .. to whom i should contact. Pl reply immediately before 30st Oct 2010 on my following email ID.
[protected]@radiffmail.com

kindly intimate me the latest fund value of LIC's money plus policy bearing no[protected],date of commencement 25.07.2007,plan no 1802020.There is no any informations available on internet.If any easy way to check my fund value is available on internet may intimate to me. My email address is [protected]@yahoo.com
Thankyou
Poornima Saini

My Name is SHIVAKUMAR
My LIC Card No. is - 4628 xxxx xxxx 5005.
I had registered 6 of my family's LIC policies under this card.
On 10th June 2010, I received a SMS from LIC Cards, that premium for 2 of the policies listed, was paid through the card. On 11th Jun 2010, I received another SMS that premium for 1 of the policy was paid on that day through LIC Card.
When I checked my records, I found that 2 of the 3 policies for which premium was paid through LIC Card, was already paid by me. The details are as follows.

Policy No.[protected]
Premium Amount : Rs.3745.
Frequency of payment - yearly
Last payment dt- 27-Feb-2010 (paid by me)
LIC CARD - paid the premium again on 10-Jun-2010 Rs.3845.

POLICY No.[protected]
Premium Amount - Rs.11504/-
Frequency of payment - yearly
Last payment dt- 02-Jun-2010 (paid by me) NEFT Transfer
LIC CARD - paid the premium again on 10-Jun-2010 Rs.11581.10


POLICY No.[protected]
Premium Amount - Rs.2433/-
This policy does't belong to me. LIC cards had just added it to my card. Hence I am not responsible
LIC CARD - paid the premium on 25-Aug-2010 Rs.2433

I had also placed a request to revert the same through customer service. The request number is [protected]A

I have no idea why no action is being taken by corp-bank or LIC regarding the same despite repeated complaints.

Can anyone suggest whom we should contact in corp-bank or LIC to resolve this.

Regards
Shivakumar Kotne
Bangalore
[protected]

Failure keeps you humble and Success keeps you glowing, but only Faith & Attitude Keeps you going......

LIC is cheating people in name of term insurance. I have applied for LIC term insurance plan Jeeven Amulya 4 months back. They have asked me to go for medical test twice and after that returned the amount back i paid for insurance and deducted 800 from initial amount paid.

However no response why policy is not issue in 4 months and why Rs. 800 is deducted.

So they just avoiding the issuing of term insurance and only want to sell the traditional insurance plan which are helpful for LIC and its agent not for general public.

Please find the details of policy i applied:
Name : Yogesh Singh
Date of Application : 22/04/2010
SCO-46-47, Phase 2
SAS Nagar Mohali
Amount paid 14490
Amount Returned on 11/08/2010 : 13768

D.C No. 589

sir,
i am sethuraman,husband of mrs.parvathavarthini,market plus policy no[protected].my wife has invested rs1,00,000 on[protected].till date no account statement o[censored]nits has come.kindly arrange to send the units statement immediately.address:new no 10,3rd cross street,united india colony,kodambakkam,chennai-600024

Sir,I'm K.B.Karthekeyen.. I have three LIC Money plus policies,whose policy no's are:[protected] started on 12.03.07,[protected] started on 21.5.07and[protected] started on 8.6.07.I want to know the current status of policies.Because I paid all my dues but in office they told that agent has ceased the dues not paid in office.Development officer( DO) no:is 0056274..So I need your help.Please send the status to the mail id [protected]@yahoo.co.in.as soon as possible i need your clarification as quick reply...
I am thankful to you as i have helped..Thank you Sir..

my mother have 50000 THOUSEND RS POLICY MONEY BACK EVERYFIVE

YRS POLICY IN LIC INDIA.(AP)(HYDERABAD )IN HIMATNAGER

BRANCH, MY FATHER WAS BUYING THE MOTHER POLICY HE DEAT

MOTHER DO NOT HAVE ACCOUNT IN HER NAME,

SHE CAN NOT RECIVED MONEY IN 2005 RS 10000.

I WENT TO OFFICE AND I ASKED THEM FOR DETAILS IN 2005 MONEY

BACK WE CAN NOT RECIVED RS 10000.THEY TOULD ME HER RECIVED

RS 10000 INCHASH IN THE HDFC BANK,

AND THEY TOULD ME WE ARE NEW IN THE BRANCH ,

IN 2005 EMPLOYEES ARE TRINFERS IN OTHER BRANCHS,

YOUR MATTER IS VERY OLD.

I ASKED FOR PLS SHOW NAME OR SIGN FOR MY FATHER OR ANY

OTHER PERSON WHO RECIVED MONEY.

THEY GIVEIN ONLY DATE OF INCHASH IN HDFC LAKIPOOL BRANCH

ADDRESS ONLY,YOU FIND THERE.

POLICY NO[protected] NAME (RUQHIYA BEGUM) (yderabad himatnager

branch) agent code no[protected]

FRIENDS PLS HELP ME IN THIS REGAD.

MY EMAIL [protected]@yahoo.com ( ALI) CELL [protected]