Lic policy

sukhpal singh (Querist) 01 May 2013 This query is : Resolved
Sir, I had bought a policy as a Proposer on the life of my daughter (minor) from LIC of India in Unit Linked Insurance Plan. In the year 2006-7 the said Policy was blocked by the Software Development Centre, Pune due to some technical reasons as there was some problem in their software and on 30 March 2007 I had applied fro the surrender amount for the said policy and LIC paid me the same on 11/07/2007. Thereafter in the year 2010, I received some letters from the LIC that they have paid me in excess and asked me to refund the same. I personally visits the office and made query about the same but the offical staff asked me that they have received a letter from the head office, so I am laible to pay the excess amount paid to me , but were failed to explain me the reason. In 2010, LIC delibrately created a loan by themselves from another policy of mine which was bought by me on my name and also charge the interest upon the loan. In the month of April 2012, when the same was about to mature they have send me the discharge form and in the discharge form they have deducted the loan + interest from the maturity amount from my policy.
Sir, my query is
1. Do the LIC has any lien upon my another policy?
2. Can they create loan upon my policy without any loan request from me?
3. Can they recover any excess amount, if any, paid in the policy on the life of my daughter, after the same was surrendered and the contract was over from the policy of mine, by creating loan and also charging interest upon that without any request from me?
4. Please quote citataion, if any, invoves in the case.

Regards
Sukhpal SIngh

Follow Query

Report Abuse