Insurance
Intrest of Rs.274 charged for no fault of lic policy holder

Dear sir,

I the employee of v.n.i.t nagpur hereby inform u that :

1. One of my friend has purchased 2 lic policies (973633286 and 973633287) from lic of india 970 br. nagpur on 15.06.2010.

2. The premium payment mode for both policies was selected as " SALARY SAVAING SCHEME" ie SSS.

3. The amount of monthly instalment for the above policies was Rs.3733/- & Rs.5122/-respectively and deposited 2 months premium at the time of submission of the proposal (as per rule of lic)

4. The policy proposal forms were submitted to lic of india 970 br. nagpur. but, policy sevicing branch for v.n.i.t nagpur is lic of india 972 br. Hence, the proposals were sent to lic of india 972 br.for servicing.

5. The staff of lic of india 972 br. is so careless that they have sent the authority letter of only 1 policy (973633286) having installment Rs.3733/- to v.n.i.t nagpur but the authority letter for other policy (973633287) having installment Rs. 5122/-was not sent to v.n.i.t nagpur. Hence, the deductions of Rs. 5122/- were not made for last 4 months.

6. When I enquired about this it was taken very lightly and carelessly that the PA code entered is wrong.

7. Today when I had gone to lic of india 972 br. for depositing the gap-premium (of 4 months) it was told that I have to deposit the 4 months premium along with intrest of Rs. 274/-

8. Why policy holder should pay the intrest when he is not de-faulter?

9. Why the policy holder should be punished for the mistake made by the lic employee?

10. Why the premium of 4 months with intrest should not be recovered from the concerned employee?

11. why the employee should not be given punishment for careless behaviour

Note: a copy of this letter is sent to CVO, SDM

Company: Insurance
Country: India

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