Life Insurance Corporation of India [LIC] Complaints & Reviews

I have appiled for home loan , i got sanctioned 15lacs for home loan. But at the time of Disbursement they have not financed 85% amount against the property value ie about 17lacs. LOAN Agent & area manager is also not responding well. They are only giving "taarikh pe taarikh" but not giving the proper reason for low disbursement. Several time me & father visited their office but every time they are demanding for new document but already all documents i have submitted to them.

As per rule , i should get 85% amount of my property cost but they are not providing me the same. I want either proper clarification regarding this in writing or total 85% amount.

Plz help me out in this issue. This thing is disturbing my Personal & professional life.

Sudhir Adsul

I am holding LIC No.[protected] from Branch No. 11 M Julfe Bengal Mkt, Dilshad Garden Delhi. I had sent the bond on its ensuing maturity in Feb.2010. While forwading the bond I had pointed out that a sum of Rs. 1950/ towards interim bonus has not been included as done in the case of a similar policy of my aunt.

Non only that there has been no response but the person on phone No,. 28822520 does not take the call and passes on the buck to phone No. 28822521 which either none picks up or remains busy all the time He is very unco-operative.. I dont know what to do.

I need help

Mukesh Gupta
95 Deepali,
Pitam Pura,
Delhi-110034

I (SURINDER KAUR W/O SODHI SINGH,VILLAGE:-BISHANGARH,PO:-KALYAN,TEH.:-MALERKOTLA,DISTT.:-SANGRUR) hold a policy from lic.to witch i gave a check of about 8000 as a primium amount in mid of 2008.but they lost the check and fined me for delay.i submited the fine and amount by cash.but now almost one and ahalf year later lic has creadted the check.thus lic get duble amount and fine for no reason.is this not a cheat.kindly give me justic.

I have not received my survival benefit due in 2006.On asking the answer is it has already been despatched.I have not got the cheque till date.My policy no. is 54138797.The cheque issued by LIC is no.004324 dated 28.03.2006 which according to them has been encashed (by they do not know whom) On 22.05 2006. the sum is that of Rs.15,000.please help for which i shall ever be obliged.

Dear sir,

I the Pruthe LIC agent (Agent code is 1445-34G) since last one year. Sir after my marriage I had included my husband name, with my name as a Pruthe M.V. Now Problem is that my PAN card & educational documents is showing Pruthe only. As of this my voter ID also mentioned Pruthe only. But I had mentioned Pruthe M.V in my LIC examination form and it is considered Pruthe M.V in all transactions it is creating problem to open my account in Banks. So I want change my name as earlier Pruthe only instead of Pruthe.M.V.

Sir your help is required to change the name in LIC documents what will be the procedure and let me know the details.



I hope that you will guide me to change my name as early as possible. I am looking forward your favorable reply.



Thanks Regards,

Pruthe

Hello Sir/Mam,

My Policy Details are as follows:

LIC Policy No:[protected]

I lost my LIC Premium Receipt for the year 2009 to 2010.
I want to submit the Premium Bill for my Tax Investment Proof.

It would be great if you could send me the Duplicate receipt.
Please do the needful

Dear Sir,
I approved home loan from LIC Housing Finance Ltd of Rs.13 Lakhs (File No. 207883) by Jogeshwari (E) Branch for Flat at Airoli, Navi Mumbai. I submitted all documents which was asked on 11.11.2009. But till date sanction amount not released to the Purchaser. Several time discuss with Agent-Mr. Basant Pant on phone and personal & also with Branch Head - VIshal Joshi on phone personal.
Both didnt give the proper response and told to me so many excuses such as LIC Hsg finance computer system is down, we are not financing for flat below 400 sq. ft. etc. Phone No. of Basant Pant is [protected] & No. of Vishal Joshi is [protected].

I promise to pay deal amount on 18.12.2009. As amt was not disbursed, i have to raise from outside market at higher interest rate. Now Mr. Basant is not picking up cell phone

Please take the action immediately as earliest.

we have been issued 3 sanction letters towards are loan requirement however till date our loan has not been sanctioned by LICHFL. It has been more tha a year now that we have been following up with them.

Everytime we go to them they say it is happening and we shall release the amount o you next week however till date no amount has been released to us towards are loan against one property.

The interest component on that property has become 15 lacs and we donot know what should be our way forward, anyone can help, pls come forward.

it is so difficult to get through their landlines/mobile no's given as they seldom pik up the phone.

Dear Sir,
I have Paid yearly Premium for Money plus & Profit plus in nearest branch (sangamner) of LIC. BUt till date i donot get letter of LIC for to allow units against my Premium Paid. So i cannot understand that how many units i have hold, since i have paid 3 premiums.

In above said case what i have to be done? How i know for units aagainst my premium.

is it compulsory for LIC to inform the customer in written for units allowed against his premium paid?

Please inform me at eraliest.

Thanks

Prasad Kulkarni
[protected]@gmail.com

Dear sir,

i had taken a policy through one of the agents of LIC. At the time of purchase he had given a lot of wrong information about the product and also made me purchase the policy which lead to paying a sum of 69000pa. He had informed me that i was able to close my account at any given time without incurring any charges and had also informed me that i would get the same amount back that i paid but i wouldn't get the interest if closed on an early date and to which i did agree. Now after I've completed 3yrs in the policy for some financial crisis i had to close down my policy .On informing him that i wished to do so he denied stating that i couldnt close it down and if i did i wud get only 50% of what iv paid. i was so shattered and am still in no position to pay the cost and i hurts to find out that i cannot do anything.

Please sir requesting your best answer on the same.

Regards,
Anthea.

Ref. :- Policy no.[protected]Jai Prakash)

Sub.:- Payment Default/missing case against receipt no. 21715

Dear Sir,

Now a days I facing trouble form LIC branch unit of

517, Kothi Bhagwan Dass,
Main Road, Gandhi Nagar, Delhi-110031.

My problem as under:-

Sir

I Paid my policy installment at[protected] thorugh vide ch. no. 531002, Drawn on PNB & get Receipt no. 21715 against this ch.

this ch. presented by through LIC' s Corporation bank at[protected] and cleared by our bank on date[protected]. But On dated[protected] a letter & ch. received us through gandhi nagar branch which is mentiond that your ch. dishonoured reaons mentioned KINDLY CONTACT TO DRAWER,

When I was contact to our PNB Clearing house at Paharganj they clerify me that your ch. has beeen cleared vide Ref. no. CTI-41/[protected]. & they told me that your ch. Presented twice[protected] therefore we return this ch. 's payment . becuase your ch. clered on first present above said ref. no.

after that I Contact to Ganhi nagar branch 's officer Mr. RAJESH TIKKOO & submitted a letter on the date of[protected], but after said date when I meet mr. Mr. Rajesh Tikkoo they pretended some way but ye now my problem not solved by branch office everwhile my POLICY IS GARCE PERIOD IS EXPIRY IS[protected] was over. After that I send a letter by mail to LIC;S Relationship Managar at [protected]@licindia.com on the date[protected], but Now a days I not receive any reply & solutions till days.

Therefore I request to you pls. Solved my proble as early as possiable.

Thanks

Jai Prakash

Mob. [protected]
Encl.

1. Scan copy of Pass book, which show clered ch.

2. Scan copy of Letter which is submitted at Gandhi nagar, branch,

3. Scan copy of ch.

I had Lic Market Plus Policy number[protected] amount 25,000/- . How can I get the current value of amount .Can I surrender the policy right now ? I did not receive a single correspondence from the LIC.

Policy No:[protected], LIC Trivandrum, Kilimanoor Br.
Name: Jayesh Gopi

Being an NRI since last 6 years, during initial procedure period of my policy I have told to the LIC agent that my policy would be an NRI's. But recently I could understand that no overseas personnel details were mentioned on the policy. This month I would like to start transmitting my premium amount from NRI bank account. My concern is whether this policy is helpful for me if any thing happened me abroad?

Thanks

Jayesh Gopi
Stanley Consultants INC
PB.No: 22538, Doha, Qatar.

RESPECTED SIR,
I HAVE POLICY UNDER LIC'S VARISHTHA VIMA YOJANA - 9 %(FORMER PRIME MINISTER HON. SHRI BAJPAYEE INTRODUCED IN THE YEAR 2003). MY POLICY NO. IS[protected] DT 21/11/2003.

I WAS GETTING RS. 1800.00 PER MONTH IN MY CENTRAL BANK OF INDIA A/C. SINCE JAN-2004 UP TO NOV-08 WHICH WAS DEPOSITED BY LIC THROUGH MY ECS A/C.
FROM DEC-2008 LIC STOPPED TO DEPOSIT RS. 1800.
YOU ARE REQUESTED TO LOOK IN MY COMPLAINT AND FORWARD IT TO LIC. SO I CAN GET MY PAYMENT.

FOR YOUR KIND INFORMATION I AM 91 YEARS OLD.

V J POPAT

I have taken the loan from LIC Housing Finance through Lajpat Nagar Branch in Feb 2008 and my loan account no is 37042. The Loan was @ 10.25% floating .Loan sanctioned was Rs 20.00 Lacs where as at the time of disbursment Rs 15.00 lacs was taken.The EMI is being taken based on Rs 20.00 Lacs where as it should be based on Rs15.00 lacs.In this connection i have visited the branch at no of times but no proper reply has been given further when ever i am depositing extra amount other than regular EMI some levy charges are deducted as per the receipt received.It is not understood what these charges are whether it is penalty for early depositiion or some thing else. No body in the branch gives me proper reply .phone nos of the branch always remain engaged and no body picks up the phone.
Kindly help me in resolving these issues. Is it the way where Govt. Deptts. works..

Sir/Madam [protected]

Ref: LIC Insurance Policy no:[protected]

This is with regards to premium pymts.I have been paying my premiums on time regularly since the policy was taken in 12.03.2005 There is a problem which started when I went to pay my premium due for Rs 8469/-in June 2009 at City Branch 14,Bowenpally,Sec-bad. they have stated that the premium was already paid and adjusted the premium for Sep 2009, even though I had insisted that my June Premium was not paid by me.

While I could get this matter resolved meanwhile I received a letter from the LIC office City Branch 2 Basheerbagh Hyderabad stating that a cheque issued dtd 5/6/09 of the Andhra Pradesh State Co-op Bank Ltd for Rs 52,692/- was dishonoured.

Now that chq was not issued by me as I do not have any a/c with the above mentioned bank.Upon further investigation I noticed that accidentally someone had written my policy no. at the back of the cheque along with other policy nos which do not belong to me.

If only the cashier had checked that the policy no[protected] which belongs to me does not belong to the person who has issued the cheque the blunder could have been avoided.While issuing the cheque dishonour advices, The PHS Dept has simply picked up the first policy no. at the back of the cheque and sent 4 advices to me in regard to policy nos:[protected],[protected],[protected],64656273 which do not belong to me.

I sent a letter along with the returned chq and the dishonour advices through my LIC agent and asked for my premium for june to be adjusted to my premium for Sept and a letter of apology to be issued.

I was informed by my LIC Agent that the matter was resolved and that the pymts were adjusted. When my Sep premium was due and i went as usual to City Brch 14 to pay it i was informed that it had been paid and the pymt for June was still pending.Upon enquiry at my City Branch-7 they said that they did not accept my chq pymt because of the previous dishonoured cheque and wanted a cash payment which meant that the problem had not been solved at all and slept over it for 2 months.

I had to pay penalty and bank charges to the tune of Rs 467.90. apart from my regular premium pymt.Now this was made at City brch 7.Fed up with the incompetence I did not proceed to make any enquiries considering the matter resolved and my pymts being up-to-date.

But that was not the end of it and led to further complications.When I went to pay my December's pymt at City Brch - 4 they stated that the Sep's premium was still due and took the pymt for September 09 again along with penalty charges of Rs 164.90.Advised them that we had already made a pymt for Sep and have a receipt for the same they advised that the pymts may not have been updated at my LIC Brch-City Brch 7 and need to contact them.

This time I personally went to the City Branch office - 7 on the 10.12.2009 along with my husband and explained the entire issue to Mr TVNR Swyanarayana Rao Manager (Admin) he asked me to produce bank stmts alongs with receipts right from March to Sept and he would resolve the entire matter within half an hour and said that he had understood the problem.Asked him as to why he required the March receipt since the problems all started from June and I clearly had two receipts showing pymts had been made for Sept twice and one receipt for june he said that needs it for investigation,told him that i had misplaced the march receipt however definitely had a bank stmt showing that the march pymt had debited my a/c he said that it would be fine.He assured me that he could resolve my case. He returned all the proofs that we had and asked me to come when I had everything ready.

So I accordingly went with the relevant documents today the
[protected] to the same concerned person who bluntly and rudely as to why I was showing him bank stmts when he wanted the march receipt.Remined him of our earlier conversation and he said that I need to give a letter stating the problem and they would investigate it, as there had lack of staff now. I Told him that I had done what he asked and now he was turning back when it was his turn to take action.He was adamant and wanted a letter.

So I drafted a letter once again and submitted with all the details which took nearly half an hour. When we went to him with the letter he refused to accept it stating that he issue any apology as mentioned in my letter and was not competent to do so. Told us to visit the LIC greviences brch at Secretariat Hyd.

Expressed our dissatisfaction to him and told him that it was not the right was of treating customers he just turned a blind eye to us and said that it was not his problem even if he wanted to close the policy

This entire issue has caused alot of stress and inconvience to me that I have to run pillar to post to resolve something which is not even my fault.

I will be going to the greviences office as well however please kindly look into the matter and do the needful and I will be able to provide all the necessary proof except for the original march receipt.My Dec pymt is still pending so I would like the double pymt i made for sept to be adjusted to the Dec premium and all charges to be refunded along with a letter of apology

Yours faithfully
Patricia Godinho

Few months back I have shifted to Secunderabad and settled here. Accordingly, I had requested for transfer of my policy (Annuity number 055MSUP34) at Hyderabad branch.
The policy has been transferred, but during transfer, a few mistakes were made. I would request you to correct the mistakes. (The same requested by me through my letter dated 12th November, addressed to the divisional Manager - but the problem is not yet solved).
1. “IS Annuity Joint”: This should be “True” (with my wife Mrs Usha Bhattacharya).
2. Nominee Details: Mrs Anurupa Biswas (daughter, age 42 now).

A C Bhattacharya.

I,m an agent in lic of india akbarpur branch(393) dev. off. faizabad zonal office kanpur.
My agency code is 1111393.
My comm. broken by Branch manager (akbarpur branch).
I was not informed about this.
Kindly watch the matter and do the needy.
Thank You
Your Fincerly
Pritam lal

Sirs,
Greetings. I have sent by Professional courier on 2nd May 2008 for maturity claim of policy No.[protected] that has matured on 24.07.2007 together with a Stamped receipt for Rs.23,430/- and an indemnity bond favouring LIC of India vide my letter dated 30.04.08 to your Mumbai Branch at the following address: Branch No.921, Gulistan Bldg. I floor, M.D. Road, Near J.B. Petit Girls High School, Fort - 1, MUMBAI -400 001.But till date I have neither received the payment nor any communication from LIC. As the matter is pending for more than 1 1/2 years, kindly arrange to take necessary steps to send the proceeds at the earliest.
Thanking you,
Yours faithfully,
RAVI KARRA.

I am an existing customer of LICHFL for the last ten years. The highlights of bad services are as follows:

1. No communication of revision of interest rates on housing loan so for had happened in the last few years.

2. When I approached for closure of loan account, telling so many reasons and not accepting the final payment. Purposely delaying the days to get interest.

3. Totally no communication of rate change and necessary impacts on the tenure were not at all communicated.

4. If any technical issues arises in the system and the customer wants to pay alternativel manual operation of calculation and close the account rather waiting for the system to correct and quietly putting the interest cost for the delayed over the customers. Recently the system is not working from December 10, and not able to accept the cheque of mine for the last 5 days. Whose mistake and who has to bear the cost.

5. LICHFL is spoiling and damaging the image and royalty which LIC in general is having among the public by the way of functioning and discharging the responsibilities in handling the customers.

6. Already customers are paying interest for the loan account they have availed, but for the technical delay, or absence of concerned authorities to do the work on a particular day and other miscellaneous errors that are faced by the LICHFL should not be transformed to customers who are already over burdened by the amount they are paying.

7. In total the service towards customers after disbursing the loan and especially when it comes on repayment would have the rating 1 out of 10 by their services rendered towards customers.