>> Apparently LIC has collected proposal form from you in beginning of Dec13.
LIC has discontinued policies from 31.12.2013.
However pls check the details at your end.
>> Record all calls.
>> The act of LIC is in violation of Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002. Section:4(6)………..
Instead of remaining entagled with agent and others who have been calling you on phone you may submit your representation addressed to Div. Manager-CRM in local office and narrate everything that you have posted and mention the representations made by you so far with dates, names of LIC personnel, brief discussion, and conclude that during each phone call you have demanded to supply you the policy bond thru redg. Post only and despite your representations till date the policy bond has not been supplied and LIC should supply you reply in writing on its letterhead under priginal seal and signature of the Div. Manager-CRM.
You must mention date and number of proposal form submitted by you, date of medical tests, cheque numbers, amounts etc………………..
Obtain acknowledgment with original, seal, signature, date, diary number and tell the Div. Manager-CRM that you shall be sending the acknowledged copy to Chairman, and you should not be disturbed on phone and a certified copy of proposal form collected from you, medical tests reports, comments of Managers/underwirters in case of issuance of policy to you, any communication sent to you with POD be supplied to you by redg. Post only so as to reach you in next say……………………7 days.
Did the LIC supply you the propectus, copy of proposal from signed by you, reciept of cheques collected from you…………………………
>> You may go thru:
Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002.
Carefully and especially :
4. Proposal for insurance
(6) Proposals shall be processed by the insurer with speed and efficiency and all decisions thereof shall be communicated by it in writing within a reasonable period not exceeding 15 days from receipt of proposals by the insurer.
5. Grievance redressal procedure
10. Policyholders’ Servicing
(4) Any breaches of the obligations cast on an insurer or insurance agent or insurance intermediary in terms of these regulations may enable the Authority to initiate action against each or all of them, jointly or severally, under the Act and/or the Insurance Regulatory and Development Authority Act, 1999.