I have taken a housing loan from LIC couple of years back. The insurance agent from LIC richmond road branch (bangalore) by name (Manikandan) has demanded me to pay huge amount as his commission to the tune of 3% of the loan amount. I paid the amount what ever he said because I wanted to get the loan sanctioned ASAP. He was literally harrassing me. I dont know why LIC encourages this type of agents for its housing loan. It is Illegal.
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