I am very much aware that IRDA does not make any promises to customers directly but these fraudster who somehow got details of 4 policies my family have with LIC. They also knew that I am making online payment and that means Agent is no more providing any support.   They informed me Agent takes lot of benefits on your policies (they started with 2 policies of my wife) If agent provide you service then agent deserve it else there is a way you can get the benefit agent is getting. They provided all the information about policies including exact premium amount, policy number, last payment made.

As I suspected they can not be by IRDA, they themselves told they know all details as they are from LEGAL advisory dept of LIC and not IRDA. LIC want benefit to go to RIGHT person if agents are not doing their duties. This is the way they earned trust.   Then in next call they informed me on benefit amount which was equal to 5 years premium for a LIC policy which was in 13th year of 20 years term. I again doubted because of large amount. They informed me even the name of funds etc where money was invested by LIC and grown. They had this info as they are from LIC legal advisory dept.

To get this benefit amount of 1.5 lakhs they wanted to put my own client ID by replacing associated agent Id. However they said client Id should be created through other Life Insurance policy. I offered them client Id from other HDFC policy but they mentioned then that HDFC agent may get benefit. They suggested me to buy Birls Sunlife insurance policy which I did for minimum amount of 30000. I knew I can return the Birla policy in free look period thereby not losing anything   Actually I wanted to see how much this person go and if it is true (1 percent possibility) they I am going to be benefitted. Birla policy is taken through right manner by cheque payment. policy document arrived as expected. I provided them client Id. They mentioned agant Id replacement process takes 3 weeks minimum.  I understood trick of making more than 15 days delay.

Every day this person was in touch with me which actually solidified my belief that they are NOT legal advisories of LIC as nobody care for their customers like this. Now only thing I wanted to do is see where it goes so that I can educate others.   2 days later they called me again and informed the benefit amount for my other 2 LIC policies another 2 lakhs… these were higher premium policies for larger tenures. Then they told me that there will be income tax on benefit amount and to save that income tax I can buy one more policy and I am all set. I told them I will pay income tax directly AFTER getting benefit amount. Meanwhile WITHOUT telling them I cancelled Birla policy within freelook period and fortunately got all 30000 amount with small admin deduction of 60 Rs. When they came to know about this, they pretended they do not know but they asked me to pay payment withdrawal fee of 15 percent of benefit amount of 3 lacs plus. I refused to make any payment before receiving benefit amount. I offered them to deduct it from benefit amount and pay me the rest.   Yesterday they informed me I am in selected 100 person out of 10000 people who applied for payment withdrawal like me. I can get car OR flat if I pay stamp duty and registration. I informed them I will think.

I have also kept a tab on them by telling them I am in Delhi for work and want to meet. (Next week – phone number is changed by this advisor saying his earlier phone is lost … he reported to police) I have 5 mobile numbers and a land line numbers they used. They presented themselves as customer service representative, Legal Advisor manager, Accounts dept etc of LIC itself.   This can not happen without LIC employees / culprits giving away all sensitive info on policy to Fraudsters. Also Birla Sun life Insurance gives you genuine policy within 1-2 days with all verification process followed when these fraudsters sent Birla Insurance persons. My Question is HOW can we break this RACKET of LIC, Birla SunLife (in background) and fraudsters working together to cheat customers. Need your Suggestion and help. I can provide all mobile numbers and name informed to me. They are still in my contact. Their informed fake identities

Priya Sharma – 9953484018 (LIC Special Customer Service Desk)

Vijay Sahgal – 8802485100 (Legal Advisor for policy matters LIC)

This number disconnected after I surprised him that I am going to meet him and very near to his office)

Vijay Sahgal – 8285764161 (currently active number)

Ravindra Mehta – 9899048813 (Accounts dept – who keep track of benefit amount directly to be paid to customer – take bank details to pay the benefit)

Name forgotten – 9689375487 (Person who manages rewards dept) – selected customers get car, flat on paying registration amount

This racket has SOLID LINK with Birla SunLife and also LIC to get the information on policies, payments made to policy dates of payment, premium amount etc. Salesman from Birla SunLife, Axa, Reliance…. appear in less than an hour to your doorstep in all cities. Just imagine what will be size of this racket.

PLEASE SAVE YOURSELF and YOUR hard earned Money.