Life Insurance Corporation of India [LIC] Complaints & Reviews

Dear Sir,

I am maintaining two policy with Lic of India Belgaum branch with regularly paying the premium for the policy No.[protected] for Rs.1546/- & No.[protected] for Rs.492/- and paid premium for the due Feb - 09 by cheque but cheque is returned back for the non signature of the payee.
I would like to ask, while accepted the premium they should check the cheque that is in proper way or not but the same is returned to me with a fine of of Rs.170/-.for the same cheque bank charged me Rs.80/-, is the my fault that i paid in cheque it is there duty to check the cheque or cash before accepting is it in a proper way or not.
please advice me for the same.

I TOOK A LOAN OF 6LAKHS FROM LICHFL(acct no[protected] IN YEAR 2006 WITH FLOATING INTEREST RATE OF 7.50%. ONLY FOR 3MONTHS I WAS GIVEN THIS INTEREST RATE, AFTER THAT EVERY 3MONTHS IT KEPT INCREASING AND I PAID A INTEREST RATE OF 11.50% FOR MAR09 NOW. ITS VERY SURPRISING/FATEFULL TO SEE THAT HOUSING LOAN COMPANIES GET THERE CUSTOMER SHOWING A VERY LOW INTEREST RATES AND AFTER THAT WHEN THEY GET A CUSTOMER THEY KEEP ON INCREASING THE INTEREST RATES.

ALSO THE PROCEDURE OF CALCULATION OF EMI IS VERY HARD I.E THEY TAKE ALMOST ALL THE EMI TOWARDS INTEREST AND ONLY 2% TOWARDS PREMIUM AMOUNT, WHICH IS VERY UNFAIR. IF I AM PAYING EMI OF 5, 600 THEN THE INTEREST IS 5200 AND 400 IS MY PRINCIPAL DEDUCTION. IF WE CALCULATE THIS SAME THING FOR YEAR IT COMES 62400 AND PRINCIPAL DEDUCTION COMES TO 4800. ISN'T THIS UNFAIR?

AT PRESENT I AM THINKING TO SETTLE MY LOAN IMMEDIATLY AT ANY COST, BECAUSE I HAVE MY OWN FAMILY EXPENSES ETC. IS THERE ANY OPTION WHERE IF I CAN BE CONSIDERED FOR SOME CONCESSION/RELAXSATION ON MY PRINCIPAL AMOUNT IF I AM WILLING TO CLEAR MY HOME LOAN IMMEDIATLY.

I am a policy holder of LIC of India and presently holding 4 policies. I am a resident of Muzaffarpur, Bihar and all the policy are maintained at Muzaffarpur Branch. Presently I am working in SBI Lonavla Branch as Branch Manager. In the month of March I gave money to a local agent of Lonavla branch for depositing the policy amount of my and my wife policy. My wife's policy no. is[protected] and the same is also maintained at Muzaffarpur Branch. I have clearly mentioned the policy no., name and the premium amount for payment. However due to negligence of LIC Lonavla, branch they deposited the money against policy no.[protected] of some Raj Kumar Singh. When I noticed the mistake, I requested the branch to rectify it. However despite elapse of more than 20 days the matter is still pending and no proper reply is being given by the branch.

Dear Sir,
I approved home loan from LIC Housing Finance Ltd (10 Lacks). on dated 24.02.09 on Delhi Branch(CP) for Flat in Faridabad. But till date sanction amount not released to the Builder (Ferrous Infrastructure Ltd.). Several time discus with Agent-Mr. Rajeev Sethi on phone and personal.
He didnt give the proper response and told to me so many excuses. Ultimately Mr. Rajev Sethi dont want to release this amount. Phone No. of Rajev Sethi is [protected].
And due to this problem, Builder is taking(Charging Panulty) too much panulty.
Please take the action immediately as earliest.

Note : I am sending as an attachment file of In Principle Housing Loan Certificate

File No. 112727
Name Sushma Kumari Chaturvedi
Branch : LIC HOUSING Finance Ltd.Jeeven Prakash Building, K G Marg, New Delhi
Builder Name : Ferrous Infrastructure ltd.

--
Thanks and Regards

Dr. Vivek Kr. Chaturvedi
[protected]

Dear Sir, i approved home loan from LIC Housing Finance Ltd. on dated 24.02.09 on Delhi branch(CP). but till date sanction amount not released to the builder (Ferrous Infrastructure Ltd.). Several time discus with Agent-Mr. Rajeev sethi. He didnt give the proper responce and told to me so many exiecuse.
And due to late payment, Builder is taking too much intrest.

File No. 112727
Name Sushma Kumari Chaturvedi
Branch : Jeeven Prakash Building, K G Marg, New Delhi
Builder Name : Ferrous Infrastructure ltd.

My policy no.[protected] cheque amount. 30000
Complaint : sending cheque of money back policy in wrong address

My self Ramavtar Ramroop sharma I am a lic customer before one year I have changed my address then after sending cheque of money back policy old address. Any letter or acknowledgement or writing communication coming my new address.sir you know I am free for this type of rubbish thing.
I don’t want to reply this mail I want to solution why happen this type of thing. Your people sleeping or they don’t want to work with responsibility. Due to this problem I am thinking lot because I have lots of policy. I have deposited more than 80000 per year. Now I am sure that in future I will not take any policy by LIC. This is not easy matter.if I don’t get solution in writing letter by your people. And if those person not accept in our mistake. Then I will send mail head office to manager.

MO.[protected]

Sir,

I am having 2 Life insurance policies with LIC of india under salary saving scheme. In policy no[protected] monthly premium is Rs 522/-p.m. and in policy no .[protected] premium is rs 468 /- p. m. on name of Inderjit kaur.
For both of above policies these 2 permiums for month of 10/2005 has been deducted from my salary . The verification of the same done by the Headmistress through insurance schedule has been sent to LIC office, Ajmer. Inspite of that and reminders this amount has not been credited to my policy a/c.

Kindly look into matter and revert on below mentioned mail id on urgent basis.

Regards
Inderjit kaur
#94, Sector no 9 Ext, Hanuman garh jn, Rajasthan
contact no.-- [protected]
email.: [protected]@rediffmail.com

Dear Sir/ Madam,

My policy No.[protected] dt.31.10.08 o[censored]LIP Plan No.188 Branch 12K, Laxami Nagar, Delhi.

My Policy under payment in ECS but no ECS debit in my account. We have deposited two time cheques. My Saving account in ICICI Bank Ltd. My saving account No.[protected] and MICR No.[protected] in my name Anup Goel. Please check the stutas of ECS and debit in my account premium regularly.

My account balance is sufficent always.

Thanks,
Anup Goel

My wife's LIC Pension Policy No. is[protected]. The LIC Northern Zonal Office New Delhi used to dispatch advanced 12 Cheques amounting to Rs.2000/- each for monthly pension payments. This year in January, 2009 they demanded Certificate of Existence which was sent to them after due attestation of competent officer in February, 2009. The Cheques are still not received and on account of it we are not be able to draw pension which became due on 1.4.2009. The LIC is depriving us from the only source of income in this old age. We expect them to be more sensitive specifically towards senior citizens.

I made LIC payment via www.licindia.com (on 01-april-09) for -
Policy no[protected], Branch - 12D
Policy No[protected], Branch - 11K.

the payment was processed as per below message -
Your Payment of Rs.2635.00 has been made successfully to BILL JUNCTION PAYMENT LIMITED
Your Transaction Reference Number is [protected]

today is 15-april-09, and my details are not yet credited in the system.
the system did not generate any receipt.
could you pls forward this email to concerned deptt, so that someone can reply me.
thanks
kshitiz saxena

As i m having money back policy no:[protected] dated 28/11/1991 of life insurance corporation of india as per police LIC of india have give me Rs.3750.00 at every 5 year but till today i have not received last money back for the year 2001 to 2006. so please give me the same with intarest as erly as posible.

Regards
Name & Address of policy holder : Dev.Off.:0002063 A, jent : 00174859
Dhanabhai Somabhai Parmar

Servicing branch Mansa - 85B
Plan & term : 93/25

Dear sir,

My father has taken loan from lic housing loan. (File no 508261)
We pay our emi regularly but every year lic officer comes with some discrepency.
I telephonic request their ajmer office to tell me status but they want to come us physically there while i living in mumbai now. I request them to tell how i can i get updated online for the same.
But they declined for it.
How is the lic working that the customer can's see his current staus.
Pls help me how can i get the online statment.
Or statment by email every month.

Regards
Suresh

Respected Sir,


I am Nilesh Kadam son of Dipak P. Kadam.I want to know the status of my fathers policy .Therefore I am giving details aobut the policy:

Policy Holder : Dipak Pandurang Kadam
Policy No. :[protected]
Term & Plan :14/16
Primium Amt. :506/-
I hope you will send me reply of this e-mail as earliest as you possible .Please accept my request kindly.

(1) Based on my loan agreement of Approved Floating Rate the ROI should be 10.25% or less (LHPLR – 275bps i.e 13.00 – 2.75= 10.25%) for my READY BUILT HOUSE.
(2) After giving PRESS RELEASE published widely that ROI for existing Borrowers will decrease by 75 points from 1st April, LICHFL is trying to mislead the public by not bringing Interest rates of existing borrowers.
(3) I am provided with Lip service (totally false) when contacted with email/ phone by LIC Dehradun & LIC Haridwar Agent.
(4) For Information I am Manager in BHEL (Public Sector) and paying EMI thru salary, living in the same house for which loan is taken.
DETAILS are as follows:-
Name: Rajnish Gupta, Dr.Vandana Gupta
Loam Amt: Rs. 20 lac (Griha Prakash) Term: 15 years (for ready built house)
Loan No.[protected]Approval File 405727, 04/04/2006)
Floating Rate (Approved): (LHPLR minus 275bps)
Starting Special Concessional ROI - 7.5% (or at time of disbursement)
Present ROI: 10.75 (updated on 09/ 04/2009)
In the name of floating loan, the compant is taking customers for a ride. Please look.

Policy no:[protected]
Policy no:[protected]

From
Ranjan Sinha
24/1, Harmony Homes
Sector-57,
Shushant Lok-III
Gurgaon

To
The Branch Manager
Life Insurance Coorporation of India
Career Agent Branch
Bistupur
Jamshedpur

Sub: Non receipt of cheque

Sir,
With reference to the above subject, it is to inform you that I am a policy holder of your Branch ( Policy Number[protected]. My address for communication was as under :

Ranjan Sinha
C/O Shri Sunil Choudhuri
A1/12, Anand Vihar Colony
P.O- Ghorabandha, Telco, Jamshedpur


Under money back policy I was supposed to get back an amount of Rs.10, 000/- ( rupees ten thousand only) on March 2007. But till date I don’t know what the position of the amount is. Kindly let me know that whether any cheque has been issued and dispatched to this address. If so then please let me know the date of dispatch, cheque number and the name of the bank. Also kindly check whether that amount was debited from your account or not.

Kindly treat this with high importance and as an urgent.

With Regards


Ranjan Sinha

Non Recieved Annuity
Policy Plan: Senior Citizen Pension Plan
Policy No.:[protected]
Policy Holder: Shushilaben Babubhai Shah
Address: C/o Rohitkumar Babubhai Shah
A/71, Kalikund Society,
B/h. Vaibhav Cinema,
Bakrol - 388315.

I have taken a housing loan from Lic housing finance Ltd, Asaf ali road, Delhi.loan a/c no 11034656and according to the terms and conditions of sanction letter, the rate applicable at the time of disbursement will be applicable.At the time of disbursement of my loan rate of interest was 8%, where as i was given disbursement at 11% as it was at the time of sanctionning.Before taking disbursement i gave a written letter to Mr Adhikari (Area manager ph #[protected] but he refused to acknowledge the same and very rudely told that nothing could be done.Later also many times i tried to contact him, but he avoided my calls and personal visits.Now i have not given property parers to Lic housing finance, so they have started threatening me through their lawyer of dire consequences if i don't give property papers.Now Mr Adhikari and their lawyers both are threating me of dire consequences.

Can a government official or an officer of repute behave in such a manner, also why is he refusing to aqknowledge my written complaint, as a salaried employee i have limited income and can't afford to pay 3750/- more every month because of difference in rate of interest.

Warm Regards,
Alok Mahajan
[protected].

sir
i wanted to purchase a new endowment policy, sum assured fifty five thousand, on my name from LIC. i completed my form on 19Dec08 to LIC Brach morar 35A, gwalior. it was send to head office (City center gwalior) on 2nd jan09. and you will be surprised to know that till now i have not got any information whether my proposal is completed or declined. my agent/son contacted 100 times in the branch (Mr Shakya) but he was unable to answer. my son personally visited your city center, gwalior office (Mr Upkar Singh) Mr Upkar told it will be completed in a day or two. but till now it is not completed. kindly take some serious action.
hope i will get some reply and fast reply

thanking you
Smt.Shailja Agarwal
agarwal bhawan
kotwali street
morar, gwalior

i was not knowing the proposal number, otherwise i would have send this to LIC website also

Dear Sir/Mam,


This is Regarding my Insurance policy with LIC of India, ith Policy No.[protected], which i bought from your Agent Mr. Chandashekhar Sharma-(Mob no.- [protected]/ [protected]) Chairman club member Agent Mungeli Branch Dist Bilaspur Chhattisgarh. Agent Code[protected]D

Mr. Chandrashekhar has sold this policy to me ithut informing about the charges, and in place of Single premium plan he forced me to buy a regular premium plan, where charges are as high as 24%Allocation charge and Approx 5% extra other charges in compared to single premium plan where charges are only 4%.

I am failed to understand why he has done this to me as he is our Agent for more than 15 year now, I think he is only bother about his Commission.

Second point is he has delivered this policy document after 3 months of issuance of the policy. My Policy is issued on 06/01/2009 and i got my Policy Document on 05/04/2009, i am unable to understand his agenda.

pls help.

Regards,
Mrs. Shakuntala Dwivedi
Near CSEB office, Nehru nagar Bilaspur.
Phone[protected]
Mob# [protected]