Life Insurance Corporation of India

------- Edited on 2019-03-05 -------

IT IS VERY EXCELLENT ORGANISATION GIVING SERVICE

Life Insurance Corporation of India has harassed me since one year & eaten up my father's hard earned money. Since the policy had matured in January I applied to close the policy & the amount to come into my bank account. They keep giving flimsy excuses & 4-5 hours my mother & I have spent in the Goregaon West branch whenever we have visited it. The policy is on my name & the bank account is also on my name. The amount is Rs 1,00,000. I clearly told them that I DO NOT want any life insurance on my name. They are forcibly extending it without my consent. They even tried to fraudulently make me sign a blank paper, which I snatched from them & cancelled my signature. Moreover, Kadam a fellow working there who was dealing with my papers. I do not know this fellow nor had I seen him before. He told me to come to his house to get the work done. I firmly said NO I will not come. Whenever I have visited that branch the lady managers tell me that my money will come in 4-5 days. When I reach home they ring me up & tell me that their manager has decided not to give me the money now. I have even written a complaint at MIDC police station but nothing has happened. I went to consumer court at Bandra. Unfortunately, those lawyers working there know Kadam & are hand in glove with him. They refused to alllow me to file a Case or book a lawyer. One lawyer agreed to take Rs 5000 from me only to send a notice to the branch. Another lawyer told me that he has Kadam's phone no & tried ringing him up in front of me and told me that I can get things done without filing a case but I will have to pay an amount. So, I presume out of my Rs 1,00,000 Kadam might get a share. My family & I are extremely honest people. We cannot pay a bribe to LIC or to anybody for that matter. It is a matter of principle & ethics. Moreover, I do not want to speak to a person whom I do not know & told me to come to his house; eventhough I was in the LIC goregaon office branch in which my account is there.

Informing about premium dues by sms and post realization of payments sending sms is the improvement I have seen recent months from LIC. Good and keep it up