Delay in issuing term insurance

POSTED BY Suhas Zore ON February 8, 2011 5:22 pm COMMENTS (5)

Last month I paid for my Term Insurance from LIC.

It has been month ,I have cleared medical ( as told by agent).

I even visited local branch (which is not local to me.Had to travel from Mulund to CST 1.5 hrs)for scrutiny.

Till date Iam waiting for poilicy

I am unable to submit my investment proofs.Iam told as SA 1500000 is big it has gone to divisional office for approval

Can any body comment how long it takes ?

Anyway I can escalate matter ….

5 replies on this article “Delay in issuing term insurance”

  1. Sud says:

    No that reciept isnt valid as my policy hasnt yet been approved as per LIC agent says!

    It is not last minute thing, I have applied in November 2010 and now come Feburary 2011 🙁

    1. Suhas Zore says:

      Finally today I just got my Policy No. & reciept

      To SUD:-
      My Reciept footer cleary mentions “If YOU don’t get recipet after TWO months Conatact Local branch”
      Seems like now is time for you to visit them

  2. But they must have given some kind of reciept that you paid money to take the term insurance , is that not valid ?

    Also , why are you guys taking all this at the end only, you know last minute things dont work a lot of times !

    Please plan things at the start only to avoid all these problems 🙂

    Manish

  3. Sud says:

    Even My policy has been delayed by LIC, because they say 30L is big amount! So they are cross-checking!
    🙁

  4. Ramesh says:

    Lol,
    “15 lakhs SA is big”.
    Or is it 1.5 crores!

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