LIC
LIC employee forced/threatened to sign for a bond policy

Hi,

Recently my father was passed away, he has two LIC policies. One is of 4laks and other one is 3laks. 4lak policy is about to mature in an year and other 3lak one was just started a year ago. So our LIC agent said 4lak policy will clear in short time but other 3lak (which is started recently) may take little longer time as it is recently started and they may do some inquiry. Few days back 4lak policy was cleared, so my mom went to LIC office to receive the cheque, the office at LIC office forced her to sign for a 1.5lak security bond. First he said it is rule that when you taking money after mature or deceased you have to invest atleast half of the money in LIC. As we have to clear all our loans she refused to do that. He threatened her saying he will make other remaining policy withdraw complicated with so many queries. After an hour of arguments she has no choice other than signing the document for 1.5lak bond. He said we can not cancel that bond untill three years, as we have to clear all our loans we are worried.

We are very upset with this situation, as we though that LIC is a life savior, I am help less now. How can I proceed to make a complaint against him so that some one can take some action on him?

Thanks for your help.

Company: LIC
Country: India

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