Hi
this is naresh. I have my sister named Jyothi. My father made a policy for my sister with LIC when my sister was aged 16 yrs. My father was the nominee and the guaranter of the policy. My father expired in 2002 just after 1 year of policy. Now we have got the benifits of all other policies which were associated with my father. Note:- We made a one time payment for the polic(25000). We submitted the death certificate. Now the LIC of india states that the policy was opened when my father was in good condition (Non-alcoholic, non-smoker) Clause. But the hospital reports states that my father used to smoke and take alcohol before he fall sick to Cancer. The issue is that LIc refused to pay us back any amount. When we requested that we want to cancel the policy and have our money back. They refused to pay any amount. Is this the way LIC works? cant we have our owned blood and sweat money back. Instead they advices to go t o court to claim the premium money...We requested that we dontw ant any benifits or any advantages....just we want our money back which we have payed as one time payment for the policy. Now they state that this policy is closed and they dont have any account policy of my sister. I dont understand how this can happen. This is just a robery from people. we also sent an application for the LIc consumer court to cinsider this issue on Sympathy ground. They didnt mind to reply in any means. Very Frustrated, as we lost a good sum of money to one of the largest Insurance company of India. My agent always try to get away with this issue as he also very frustrated by making several visits to the LIC office at Thane-Mumbai. even i am very much frustrated as this is going on and on for several months and years. Please advice what i have to do above this to atleast get my money back for my sister. My sister is now undergoin medical services and i have to arrange az huge sum of money for her. Can anyone please help in getting our money back. ?????