LIC policy bond
Prachi
(Querist) 18 March 2009
This query is : Resolved
Hi All:
I received an intimation from LIC that a policy taken by my husband has matured and due for payment. I approached LIC informing that my husband has passed away 15 years ago and I am his legal heir. I also furnished a couple of receipts that i had found, evidencing payment of the premium amount and that I was a nominee. I also informed LIC that I do not have the original ploicy bond.
But LIC have been repeatedly asking me to submit the original policy bond, since it is a time barred claim.
I am ready to give an undertaking in this regard. But LIC continue to ask me for the original document.
Can I approach the Consumer Forum? How long should I wait before doing so?
M. PIRAVI PERUMAL
(Expert) 18 March 2009
In case of loss of original bond, the LIC is having a procedure to issue duplicate bond like execution of indemnity bondy, paper notification etc. If still you think that LIC is making you run from pillar to post, you can approach the Consumer Forum for remedy ? You can approach the Consumer Forum even now, since you have stated that LIC is simply insisting you for original bond inspite of your willingness to comply with procedure for issue of duplicate.
Uma parameswaran
(Expert) 18 March 2009
I am supporting Perumalji's answer. But before moving for legal remedy submit a written application for your relief before LIC and keep a copy with you.
adv. rajeev ( rajoo )
(Expert) 18 March 2009
let me know when u received the LIC intimation because to file a consumer case limitation period is 2 years. U do file an appliction to issue duplicate certificate enclosing ur husband's death certificate.
u have got another remedy u file a case to obtain probate and succession certificate from the civil court
A. A. JOSE
(Expert) 18 March 2009
There is no dispute over the above replies. However further clarification from the author are required to address the issue correctly and completely. Please clarify as to whether all premiums in respect of the policy in question were duly paid and if so when and who paid such premiums. How is it possible for you to remain silent for over 15 years from death of your husband without claiming the policy of amount. If you were unaware about the policy and no premiums were paid after the death of your husband, then in the normal course the LIC would have discontinued and the policy would have lapsed for non-payment of premium. Therefore, it is for you to give complete factual position as to when the last premium was paid in respect of the policy.
Shyam Ji Srivastava
(Expert) 18 March 2009
Dear Prachi,
Don`t worry. you can avail limitation for the purpose of filing case in consumer forum from the date of receipt of the letter from LIC. plz write a letter to the concerned office of the LIC and request to pay entire amount including all benefits if they ignore submit a letter under right to information act and then file case in consumer forum. if you dont mind plz write the name of city /office of the LIC
sanjay singh thakur
(Expert) 19 March 2009
Best option is to follow the advise of Uma and Rajeev. Your case can validly be filed before the Consumer Forum and the same will definitely be allowed.
SANJAY DIXIT
(Expert) 20 March 2009
Dear Prachi you have not cleared the questions raised by Mr Jose. They are relevant for giving you an expert opinion to the point.
Hiralal Das
(Expert) 04 April 2009
I agree with the opinions of my learned members friend. You may follow them which should be better to solve the problem.
Hiralal Das
(Expert) 04 April 2009
I agree with the opinions of my learned members friend. You may follow them which should be better to solve the problem.
