Nashik | 21 Aug, 2021 (10 months, 2 weeks ago)

Criminal Law

Insurance

LIC Agent: Misleading, Cheating & Criminal Breach of Trust I had purchased Money Back Plan (New Bima Bachat Table 816) from LIC in October 2014. The agent gave me 100% fake & inflated figure of Loyalty Addition of Rs. 7,50,000 (Bonus - Notional Profit), to be gained at the time of maturity after 9 years, which actually happens to be only Rs. 75,000. The agent had given me full-detailed table of benefits by E-mail on his letter-head under LIC's Logo. He is now pointing at the "DISCLAIMER CLAUSE" mentioned therein, that "the figures furnished in illustration are only indicative & may differ depending on insurer's performance". As such, I surrendered the policy pre-maturely after 6 years (rather than stipulated maturity after 9 years) bearing capital loss of Rs. 3,75,000. This is a problem with LIC Agent & NOT with LIC. Is there any possibility of claiming the capital loss of Rs. 3,75,000 from LIC Agent & / OR from LIC, outside the scope of Disclaimer Clause? Please advice. Thank you very much.
Answers
22 Aug, 2021 | 08:34

Dear sir
You can give me details information about the matter then I can advise you
You can mail me for advise on
irfanss87@rediffmail.com


21 Aug, 2021 | 22:41

Have you tried to talk to the senior officials of LIC ?
For any further assistance, feel free to contact me on my e-mail "shubhampabbiadv@gmail.com"

regards,
Shubham Pabbi & Associates


Shubham Pabbi 22 Aug, 2021 | 00:40

If problem still persists in future, please feel free to contact me on my e-mail id.

Asker 21 Aug, 2021 | 23:31

Thank you very much indeed for your reply. I am writing full-detailed letter along with some documentary evidences available with me to LIC Senior Officials at Mumbai Head Office ( All 5 Executive Directors), Zonal Manager, Divisional Manager, Sr. Branch Manager at Local Branch, & let us wait for the response from Mumbai Head Office. As for Local Branch officials, it is observed that they always pamper & blindly support the STAR agent, since, he brings 200 policies & a few crore premium a year. (The agent is dancing on his Disclaimer Clause feeling safe & secure for himself). Meanwhile, your opinion about the possibilities of receiving claim (outside the scope of DISCLAIMER CLAUSE) will be highly appreciated. Thank you very much.

insurance-4407513

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