LICI, EZO
Delay in payment of pension under Barishtha Pension Bima Yojona

I am a senior citizen and my husband retired long ago. To meet expenses, i took this pension scheme of LICI by paying Rs 2 lakhs in Nov with option of annual pension payments. Till i received my cheque on time but for 2009 i did not receive any communication from the EZO branch dealing with pension matters. When i referred the delay to the LICI agent, he informed that one prescribed form has to come from LICI brach office which need to be filled up and submitted to LICI after authentication. As per advice, i waited till 7th December for the form to reach me but failed to get it. Seeing poor response from LICI, i logged on to their website, downloaded/printed the form and submitted through the agent. Ultimately i got my cheque on 4th Jan and deposited in my bank account. I have sent my displeasure for the delay to the Branch Manager, EZO claiming compensation for the deficiency in service. (In stead of admitting their deficiency in service, EZO is blaming the post office for non delivery.) I am doubtful about their sincerity of purpose and seriously thinking of withdrawing from this LICI scheme and invest in some trustworthy fund management organization.

Company: LICI, EZO
Country: India

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