January20, USA
Marketing Manager, Nov 22, USA/DEC 01
Universal Insurance Building,
First Floor, 2/2 A
Asaf Ali Road, New Delhi-11002
My LIC's Jeevan Akshay-VI (Table No: 189) LIC Investment Policy: 115909441 A/c Suraj Kapil
Dear Sir,
My LIC Policy No: 115909441 A/C Suraj Kapil ECS Monthly Payments are required to be sent to my PNB a/c 0159000600253122 (INR) as per LIC Mandate Form Submitted on 10/12 accepted and O Keyed by Branch Manager. LIC.11-F, South Exn New Delhi-49
Enclosed pl find the attached letter addressed to LIC, Universal Insurance Building, First Floor, 2/2 A Asaf Ali Road, New Delhi which speaks for itelf.
Pl note that no ECS Monthly Payment has been received by me despite myself completing all the formalities there in India while I was there in Dec.
As you are aware that this is a LIC Investment Policy which is obtained and sought for by hosts of Indo-Foreign Citizens from U K, USA, Canada, Australia, and other hosts of Countries in Europe. Therefore, being Citizens of Foreign Countries, it has been devised in your Mandate Form given to me that the Annuitant can obtain his Annuity Ammount to any Bank A/C, he desires, for which, he should submit a Cancelled cheque leaf of the Bank. Here, I submitted the cancelled cheque of my Mrs Veena Kapil, my Wife's PNB A/c, Gulmohar Park, Near Yusaf Sarai, New Delhi-110049 in month of Dec which was accepted by Branch Manager, of LIC, 11-F.South Extn.(Part-II) New Delhi-49 along with my Mandate Form wherein I had given the PNB a/c of my wife. However, no action has been taken since Dec nor any ECS Payment has been sent to my wife's a/c as approved by Mr Ashok Raina, Branch Manager.
Therefore, it is felt that the very purpose of inducting and floating this LIC Policy of Investment is defeated. Any indo-Foregners can obtain and seek this LIC Policy but you can not expect him to travel to India to open his Single Bank A/c for receiving the ECS Payment. Therefore, it is not understood as to what is desired purpose for raising such ridiculous demands for releasing the ECS Payments. For travelling to India for this purpose, it will be very time consuming, cumbersome and costly affair for annuitant. This is not understood.
Therefore, pl be good enogh to look into this matter and get release the ECS Monthly payments pending with LIC since Dec in favour of Mrs Veena Kapil for which I have submitted my Mandate Form along with Cancelled cheque of the PNB where I have desired the Annuity Amount to be sent as per your Mandate.
Looking forward for your action all at once in the matter as it is already late.
Thanking you,
(SURAJ KAPIL)
770, Superior Rd
Milpitas,
Calif-95035
USA
(408)-476-3167
January 20
Marketing Manager, Nov 22, USA
Universal Insurance Building,
First Floor, 2/2 A
Asaf Ali Road, New Delhi-11002
My LIC's Jeevan Akshay-VI (Table No: 189) LIC Investment Policy: 115909441 A/c Suraj Kapil
I am a USA Citizen and purchased one LIC Investment Jeevan Akshay Policy for Rs 5 Lacs from LIC 11-F South Ex Part II, New Delhi, India. My wife, namely, Mrs Veena Kapil, also purchased similiar Life Ins Policy for Investment for Rs 5 Lacs from this branch office at New Delhi. She also migrated along with me way back in 1995 to USA.
We purchased these Life Ins Policy in India while we were on Visit there and I paid my one time premium of Rs 5 Lacs through my very Old Bank, United Bank of India, SDA Opp I I T Gate, New Delhi(, H O Calcutta with whom we had our Export A/c for many decades as well my single a/c with them and also paid some 60/70 thousands of Income Tax from this my single UTI Bank A/C for many decades. Similiarly, my wife Mrs Veena Kapil, also purchased this Investment Policy through her Retirement dues such PF, Grauity and allied dues.
On checking with LIC South Ext New Office, I submitted the Proposal Form along with Mandate Form and the cancelled cheque of Mrs Veena Kapil, my wife's PNB a/c at Gulmohar Park, Yusaf Sarai, New Delhi as per written rule/guidelines stated in the body of LIC Mandate Form.
Thereafter, I was informed that my ECS monthly payment can be authorized to my wife, Mrs Veena Kapil, who was also holding similiar Investment Policy provided she has the valid Bank a/c and I submit her cancelled cheque which I did and was accepted by Sh Ashok Raina l, Branch Manager. This entire procedurial work was done in black and white and papers were submitted along with the Cancelled cheque required way s back in the month of Dec.
However, I am dismayed to note that despite a great length of tmei since Dec when I complied all the formalities requisitioned by LIC, no ECS monthly payments has been sent to my wife's a/c which was approved in toto by Sh Ashok Raina, Branch Manager when I met him there in his Room in Lic Office in Dec.
After their no response and no payment whatsoever, I kept on reminding them subsequently from time to time but nothing doing. Most of the times, he wil ask me to send for ECS payments in writing and he will release the payments but then he will somersault and change his mind and ask me to send again in writing. This went on for many months.
Finally, he asked for the copy of his Mandate Form of LIC while he was in Kereala. This Mandate Form categorically depicts the relevant Rule of ECS which enables Annuitant to secure the annuity to be credited in any Bank Account he desires. He confirmed that he will comply the LIC Rule now and ECS payments will be released now. This was also done and all at once, this Mandate Form was sent to him at his 11-F Branch, South Extn- Part-II, New Delhi-, India.49 but again I found him that he is doing nothing, no respite coming and no apparent result coming out of his long play.
Obviously, it appears to be laughing stock for him in the LIC Office. And, he wants to enjoy this empity state. It is not good to see that the small Retirement savings & earnings of Working Class are being played and taken for a ride for such consideratble time without any ryme and reason. Incidentally, I wish to point out that Mr Ashok Raina, Branch Manager, had confirmed that this mode of payment for ECS as per your Mandate Form is O K in the first instance. Else, I was holding my Single Saving A/c with United Bank of India for over 25 years and would have obtained ECS due under above Life Policy in this my Old Bank a/c without such ado and non-performance as on date. But my reliance and trust on Mr Ashok yielded on result.
Therefore, I request you to pl look into this matter and take remedial steps in order to release the ECS Payments as per Mandate Form in respect of the above Policy for which LIC preaches so much but we find tepid response for such a great length of time e.g almost a year now and no result whatsoever so far.
Looking forward for your early response,
Thanking you,
(SURAJ KAPIL)
770, Superior Road,
Milpitas,
California-95035
USA.
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