Life Insurance Corporation of India [LIC] Complaints & Reviews

I have applied for a loan of Rs.5,00,000 with LIC Housing Finance Limited (LICHFL referred thereafter), SCO 2445-46, Sector 22-C, Chandigarh for renovation/improvement of my flat situated at flat No.410,GHS-33,Sector-20, Panchkula-Haryana in September’2009. LICHFL have asked for originals of all the documents which were duly submitted at the time of application.

The loan was sanctioned vide their sanction letter File No.663212 dated 06/10/2009 and all the terms were duly acknowledged to LICHFL.

The upfront fees paid Rs.1103/- at the time of submission of application and Rs.4412/- at the time of acceptance of sanction letter. (Total fees paid Rs.5515/-).

LICHFL limited have asked for stamp papers and all the documents including six cheques, ECS sanction letter from Oriental bank of commerce have submitted to LICHFL. LICHFL have asked me to come to their sector 22 office for disbursement of loan in December’2009.When I visited office I was told that the loan sanctioned can not be distributed as per instructions from legal department but no specific reasons were given. They also asked me to wait for the call from their office.

To my surprise I have received letter (without any Letter no.) dated 31.12.2009 from Area Manager asking me to submit “conveyance deed in my favour” for the flat or else collect all the original document from their office. Shocked by such treatment by your office I visited the sector 22, Chandigarh office and explained them that all the documents available with us are submitted at the time of application and there is no conveyance deed with any society flat holder in Panchkula. This document was never asked earlier and it is impossible for any flat holder in Haryana to submit this letter.

The concerned official Mr. Charanjit Singh have shown their inability of any help and frustrated with their attitude I have no option but to take all my original documents.

I have also asked them for the return o[censored]pfront fees Rs.5515/- since the loan was never disbursed but they till date have not returned my upfront fees.

Its been almost five months that I am being harassed by LICHFL neither they have given me loan nor they returned my upfront fees. I addition to the above the amount spent on cost of stamp papers and amount of time and money spend on communicating with are still to be counted. I have to borrow money from other costly source to get the job of my flat renovation done which still to be counted.

Request you to immediately look into this and issue instruction to the concerned official Mr. Charanjit Singh to refund o[censored]pfront fees.
I also further request your goodself to issue instructions to concerned official to stop this practice to taking the upfront fees and then rejecting the case of customers. You must be aware in a recently decided case in consumer forum (The Tribune details December’17’2010 attached) where forum has said:-
“The forum in its orders stated that whenever an application is moved they proceed to sanction the loan immediately without verifying the eligibility of the applicant or the genuineness of the documents attached therewith. The purpose behind it is to swallow the process fee to which they are otherwise not entitled.
The procedure adopted by the company is, therefore, totally wrong because they are acting in a reverse mode by first sanctioning the loan and thereafter asking for the documents.
There is another defect in this procedure that the companies are trapping the gullible customers who are given to believe under the garb of the sanctioning order that they would get the loan and should not approach any other bank or financial institution for this purpose.”
I am sure their will be huge gap in the loans sanctioned and loans disbursed by LICHFL as most of the loans are not disbursed after the upfront fees are eaten by LICHFL.
In my case also their is clear case when the application was submitted to LICHFL, the LICHFL was aware that the loan is against the society flat in Haryana where the society flat holders are only given share certificate by the management of the society and no individual conveyance deed are done by each society flat holders with HUDA (Haryana urban development Authority). Knowing the facts at the time of application itself that there is no conveyance deed available with me for the flat they have asked and rejected my loan application on legal ground after taking the upfront fees.
This is clear case of Harassment by LICHFL limited and intention is to take the upfront fees and then reject the case.I strongly protest against this treatment.
Request you to please immediately refund my upfront fees of Rs. 5515/-, cost of stamp papers Rs.1500/- and others costs Rs.31700/- (Money spent in last 3-5 months in follow-up and Interest paid for alternative funds arrangements etc.) which could be counted and details could be submitted.
Regards
Vikas Kathpalia

sir,
i have taken policy of LIC (miney plus in 2007, I have paid all the installment for the year 2007,08,09,10.

2. I would like to know the present value of fund of the same.

3. policy nos[protected]
[protected]
[protected]

and market plus [protected]


please mail the fund value as on date in the policies.

Sub : Wave off of late fee wrongly charged on new Policy no :[protected].

Dear Sir.

I had taken LIC Jeevan Saral Policy no :[protected] in the month of December 2009.

I had submitted the bank verification form duly verified by the bank along with a cheque sleeve bearing the MICR no of the bank. A cheque of first premium amount was also submitted to LIC. The further premiums were suppose to be deducted from my bank a/c thru ECS.

On checking with the bank I came to know that premium is not getting deducted nor LIC has intimated me about the same.

I had submitted all the documents to LIC on time and I also maintain sufficient cash balance with the bank.

On calling my LIC branch 935 , they informed me to pay 3 month premium in cash ( 3062 * 3 ) for the month of Jan’10 , Feb’10 , Mar’10 with a late fee of Rs 61/- .

When I objected to pay late fee, I was informed to contact PCMC LIC branch.

They informed me that PCMC received the invoice only on January 14 & as my premium date is 15th of each month , it was late to inform the bank to deduct the premium. In Feb’10 also the premium was not deducted by LIC.

If PCMC received the invoice late in January ’10, they could have collected the premium on time in the month of February’10. In Feb’10 also the premium was not deducted by LIC.

If there is some lapse on LIC behalf, why should I pay late fee for the same.

Please look into the matter as I have to paid 3 months premium in cash with the late fee , I am requesting you to inform LIC to refund me the late fee Rs 61/- wrongly charged.

Waiting for you prompt action for waving off the late fee of Rs 61/-.

Regards

Priya Rajput

Email-id : [protected]@yahoo.com
B/506, Raj satyam apartment
Shiv vallabh road
Dahisar (E) , Mumbai 400 068

sir, my name is MR.RAMESH O.TAYADE. my agency code is 0035392C.
I have not able to agent portal.so please give me my agency portal ID and password.
my email id is [protected]@gmail.com. & my date of birth is[protected]
your earlier complition is highly appriciated. thanking you.
your's faithfully.R.O.TAYADE

dear sir,

my police no.[protected] Rs 10000=00 .
now my balancce.and growth.

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any farther information call me at [protected] (Avijit Saha)

LIC OF INDIA. BRANCH:- UNIT-II , JODHPUR,
RESPECTED SIR/MADAM,
WITH DUE RESPECT I WOULD LIKE TO STATE YOU THAT THE OFFICE STAFF IS NOT GIVE IN GOOD SERVICES TO US. FOR ONE CHEQUE THEY ARE CALLING ME AGAIN AND AGAIN AND NOBODY IS GIVING RIGHT INFORMATION ABOUT THE CHEQUE. THEY ARE SENDING ME EITHER IN CLAIM DEPARTMENT OR IN ACCOUNTS DEPARTMENTS. THE THREE PEOPLE SITTING OVER THERE ARE NOT TALKING TO US CALMLY.THERE BEHAVIOUR IS NOT GOOD, THEY ARE TALKING VERY RUDELY AND HARSHLY. AND THE PERSON SITTING OVER ENQUIRY ARE NOT GIVING US THE RIGHT SUGGESTION.
KINDLY LOOK INTO THE MATTER AND DO NEED FUL

THANKS

I have not received the commission of following LIC policies, which are transfered but the premiums are regularly paid by the party.
1.[protected]
2.[protected]
3.[protected]
4.[protected]

These policies were transfered from Vapi (868) to Mathura in year 2004-05. No commission received from last 6 years. I have confirmed from the insurer that all these policies are in force and regular premium is being paid.

My Agency code[protected].
Address: Hemant S. Bhati, 147/1, mangalmurty, G.I.D.C. Colony,
Umbergaon - 396171. (Gujarat) Tel. [protected]/[protected].

Please expedite.
Thanks

Date: 5th March 2010

I had requested IT certificate from LIC Housing Finance Ltd (Vashi Branch) against my loan a/c no.[protected]the phone was picked up in the first attempt on that particular day) and was promised that I will receive it by next day evening.

Now, as on 5th March 2010 it has been 3 days I did not get the document via courier as told. Since yesterday I am trying to call LIC Housing Finance (Vashi) - the phone numbers either keep on ringing with no one to attend it seems. The very next moment when I tried - kept getting the message the number is busy call after some time. I am continuously trying in vain - phone goes no ringing / either engaged. Its seems they are not at all picking up the phone. When they hear it ringing several times, they just keep them on hook.

Is this the way a company like LIC should work? Such an attitude will waste the consumers time and energy causing unnecessary stress. I am now thinking how to call them in this 21st century without physically visiting them.

Ref : Policy NO.[protected]
I have paid my dues on 25/02/2009 at Santacruz, Mumbai Branch & same day applied for Policy Transfer from Thane to Chembur Branch. My policy has been transffered to Chembur Branch but my payment of policy is not reflecting in policy status. Even after several followups, application & inquires my policy status is not yet changed. One year is over. Kindly look into matter & do the needful.

Peter D Alhat

Sub: Change of Bank Mandate - Mercy Vijaya P .. Master Policy No.GSCA / 41072 .. Annuity No.071H[protected] - Trust Code : 0713592
Ref: My Letter dated 11.11.2009

This has reference to your Letter version 7.05.1, dated 12.6.08. This also has reference to my Letter dated 11.11.09 sent vide Chennai Fast Couriers No.0028763, dated 11.11.09, requesitng for change of Bank Mandate, wherein no action has been taken from your end.

Please note that for my Annuity Amount I have given mode of credit as ECS at ICICI Bank Limited, Nungambakkam, Chennai, SB Account No.[protected]. As I am planning to close ICICI Bank, savings bank account mentioned above, I kindly request you to change my Bank mandate to Indian Bank details given below:

INDIAN BANK
Nandanam Branch (1443)
480 Anna Salai, Nandanam
Chennai – 600 035.

SB Account No.[protected] ….. MICR No.[protected]

Kindly change my Bank Mandate at the earliest. On receipt of your reply I will organize to close my ICICI SB Account.

My LIC policy No is[protected]. At the time of maturity, I opted for drawing pension through ECS. I also enclosed a photocopy of my cheque which clearly bears the details required for ECS such as SB Acct No, MICR No, Name and address of my bankers etc. Despite all this, I was issued with cheques for the first one year commencing 01 Apr 2010. The advise note attached with the cheques reads "avail ECS facility at Delhi (NCR), Jaipur, Chandigarh - Contact Branch/ZO IPP Cell Anyway I have approached the Branch Manager of the LIC office at C-29, Community Center, Naraina Vihar New Delhi on 02 Mar 2010 and provided the details for ECS once again. I humbly request the LIC of India to please look into the request so that the chances of misplacing/postal detays while despatching cheques can be avaoided. Moreover this is a good means of speed and savings at both ends

Mariamma Joseph
DDA (SFS) Flat 84, Sector-2, pocket-1,
Dwarka, New Delhi-110075

I have paid premiums for 2# Policies of LIC through LIC's official portal by netbanking and the amount of Rs.17050/- has been debited from my acount but I have not yet received any e-receipt from LIC.

ICICI bank trnsaction ID BIL/[protected] dt. 28/02/2010

Hi sir,my lic money plus no is[protected] . now i want check wheather i get any profit or not .this policy is taken in 2007....

sir I am having two money plus pluses. I want to know my fund details as on date. Please send by e-main at present status of mu funds. Policy Nos: 1. [protected]
2. [protected]

I have availed HL of Rs.23 lakhs from LICHFL in January 2005. ROI was @ 8.25% p.a. fixed for 5 years. Now, I have received an email from the Area Manager, Thane that my ROI is reset at 10% Floating from January 2010. Since I was getting a better ROI from another Bank, I decided to switch over my HL account from LICHFL to that Bank. I asked for foreclosure letter from LICHFL. There they have indicated prepayment charges @ 2% on the outstanding liability which works out to Rs.44000. Plus they have added service tax on this amount @ 10.30%. My contention is that since switchover is because of the fact that the higher ROI stipulated on reset is not acceptable to me therefore I should not be charged any prepayment charges.

Please guide me on my stand.

I, Saroj Kanti Samanta, resident of Vill-Hatabari, Udayan Cinema Road, P.O. Contai,
Dist. PUrba Medinipur, West Bengal, PIN-721401 taken a LIC Money Back Policy No.[protected].
I took loan from that policy and repaid it on 11.12.2009 I am awaiting for my Policy Bond
refunded. Suddenly on urgent need of money for medical treatment I apply for fresh loan.
The loan officer Mr. Mohanti refused my loan application saying you are not entitled to get
loan several times. When I beg him describing my urgent need of money for medical treatment,
he roughly misbehaved me saying how can I find your Policy Bond among 30 Thousand Policy. He
cut down my loan application and return it to me cancelling the loan application.

Thereafter I personally meet Mr. Panda, Sr. Branch Manager, Lici, Contai Branch and
request him to grant my prayer. I am sorry to say that very disgusting and painful behavior
is offered by Mr. Sr. Branch Manager. He said, he could not do anything. The loan officer's
decision is final. I have to wait a undefined period to get my Policy Bond refunded. He is
quite busy to handle my problem. Inspite of all my efforts to convince him my urgency of money,
I was returned home with cut down loan application prayer and loan application form.

I request you to please get this matter resolved on the highest priority and please
take a serious action against Mr. Senior Branch Manager so that in future no other customer
would suffer like me.

last month i have sold approximately 5 to 6 policy to the clients payment through ECS . I found theat ecs information for deducton of payment to the bank manegment does not come in time as per the he bank what they told me and that give rise to dis houner of the ecs mended and cash payment instruction comes to our clients and this particularly happens in case of state bank kachahari branch and ramsagarpara branch raipur where as with axis bank centran bank problem is not there. i strongly feel that this is the problem to hte state bank from you that they do not receive proper documents or information from you. and before i give my policy detail which in problem i would like to know whether you are dealing with ecs and giving service to lic of india i am agent of lic raipur cg.

Sir/madam i forgot my policy id and password please help me as earlier as possible

policy no:[protected]
premium:5245
dob:30/08/1984