Lic not accepting my policy
majeti
(Querist) 29 April 2016
This query is : Resolved
Dear Eminent Lawyers,
Last year i took a term policy on own life. LIC asked me to undergo an extensive medical test lasting about 4 hours. The test was clear and i paid the premium amount as told to me.
They didn't send me the policy at all.
Later after six months, they again asked me to under go medical test and my agent told me that LIC has put me under observation.
This second test also was clear.
Still they didn't send my policy and no communiciationat all. recently when i contacted my agent he found from LIC office that they are expecting more premium from me.
Then i have sent them a letter asking why they didn't send me my policy. today i got a letter from them that they have sent my policy to higherups and they have acceptd my poicy with higher premium amounting to approx. 52K.
Now i have touched the age of 60 and no insurance company would take my policy with standard premium.
I lost the advantage and i am planning to sue LIC for depriving me the benefit of availing the insurance for the benefit of my family.
kindly do let me know how do i proceed.
i am from navi mumbai .
thanking you in advance.
regardds
Kumar Doab
(Expert) 30 April 2016
Have you been communicating in writing on all points that you have narrated in your query and getting a written response?
Did you get a written communication to undergo test first time, then second time?
Do you have the medical grid that lays down medical tests as per premia/term/sum assured/age etc?
Do you have copy of LIC medical test advise, issued to you, and test reports (test reports are usually not given to proposer/Life to be insured)?
Has LIC named the higher ups that have issued consent to issue policy on enhanced premium?
You may show all docs on record and give inputs to an a ble counsel specializing in consumer/such/insurance matters and your counsel may opine to write/narrate to CRM, Chairman LIC and later to Chairman IRDA..........................and/or accept policy at demanded premium and approach DCDRF later OR approach DCDRF now, depending upon merits in your record and inputs.
P. Venu
(Expert) 30 April 2016
You can. However, there cannot be any definite suggestion as to outcome.
Rajendra K Goyal
(Expert) 30 April 2016
Send legal notice and file consumer complaint.
Kumar Doab
(Expert) 30 April 2016
After such a long time the policy is approved by loading.
Obtain a considered opinion after examination of documents and inputs before you proceed on your own.
T. Kalaiselvan, Advocate
(Expert) 01 May 2016
The fault is on LIC for having not communicated their decision to you properly and on time thereby making you to lose your valuable insurable life period.
You can send a legal notice demanding an explanation from them and also to make them accept your policy at old rates itself due to their fault.
Your notice should be strongly worded draft to enable you to get relief for certain.
