Life Insurance Corporation of India

Not possible to get even 30% of your total premium back in case of an emergency and you want to "surrender" your policy. They will offer you a loan at 75% of your total premium value at an exhorbitant rate instead. Your returns on maturity in any case will be less than 7% if you are lucky that is. Looting the gullible public by stating tax free returns. Whereas you are taxed at source throughout.

I have 12 policies.
LIC is the best. Digitalisation has helped us a great deal. We can keep track of policies, bonuses, premium payments etc. However,one area which needs improvement is a very long time taken to update records. After we submit request it takes more than a year to update records and some times it may not. We keep on asking them and filing complaint which is not closed properly by officers. The reasons given are laughable to close the complaint. Some strict is action needed here.

LIC of India is only,transparent company I found. I rate it as No.1

------- Edited on 2015-10-23 -------

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For decades providing excellent service. With launch of self care portal, it has become transparent and hassle free experience