Life insurance Corporation of India, 20 year Money Back Policy
Non payment of premium i paid

Sir,

My father had bought a 20 years Money back policy in my name in 1998. He paid a total premium of around 60000 in two years. He couldn't pay the premium from then due to finacial instablity. When i was checking my old records I found this. I requested LIC to renewe my policy or refund my premium deducting penalty if any. They say as I had not paid premium for 3 years and renew within 5 years my policy is lapsed. So nothing can be done in such case.

I request to kindly look into the matter and advise me.

Thanking you,

yours faithfully.

Anuj Somani