My father was having policy ( jeewan surbhi) with LIC.term of the policy was 20 years. As per the terms of the policy we should get the money back amount in the 12th year which is 25% of sum assured. but due to my transfer from Varanasi, i could not collect the cheque that may be received in 2005-06 at my address and cheque issued by the LIC is not cleared through my account. We thought that LIC will pay it at maturity along with all remaining amount. Now in 2013 when Policy matured they did not pay me money back amount. when i wrote email to them they credited the money back amount without any interest accumulated on it for 8 years. When i asked about the interest , manager told me that it is ur fault not our that you failed to take the cheque .we cannot pay you any interest on it. Its my view that if the reputed company like LIC ,used my money for 8 years then it must pay the interest amount on it just likes banks do . In banks when fd matures and if we claim it after 15 days then they pay us the interest amount too.i want to know whether i can get the same .where should i lodge complaint as the manager is not entertaining the complain. kindly help me , i shall be highly thankful to you
Thanks
