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Life Insurance Corporation of India

India

Consumer complaints and reviews about Life Insurance Corporation of India

Naresh Kumar Sharma Send email
 
Feb 26, 2016

Non-receipt of surrendered value of the policy

Sir,
I am holder of Jeevan Nidhi Policy of the LIC of India bearing No. 114240259 with vesting date as 25th January, 2016. This is a Pension Plan. However, due to some reasons, I decided to go for the surrender of this policy and all the relevant papers along with the Original Policy Bond, Duly filled in surrender form and ECS mandate form, etc. were delivered at the concerned branch of LIC on 19th of January, 2016 for with I am having an acknowledgement issued by the branch. The concerned branch code is11-N, Mehrauli. As i did not receive any payment in my bank account, I visited the concerned branch on 4th February, 2016 and was shocked to find that my papers were lying with the dealing clerk whose name is C.K. Bajaj. Mr. Bajaj tried to explain that the papers could not be processed as the Branch Manager was on leave. However, he assured me that he would sent the papers to the zonal office in a day or two and I would receive the payment within a week. But I am sorry to say that I am yet to receive it.

It may thus be seen from the above that it was just because of carelessness and unprofessional attitude of Mr. C.K. Bajaj that I am being penalised for no fault of mine. This will also tarnish the image of LIC. I, therefore, request that my case may be resolved at the earliest and responsibility may be fixed in this botched up case of mine.

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