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Thread: LIC fraud about Jeevan saral policy

  1. #1
    chiragwadhwa is offline Junior Member
    Join Date
    Dec 2011
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    1

    Default LIC fraud about Jeevan saral policy

    Name:  Jeevan-saral.jpg
Views: 38259
Size:  7.5 KB
    I had taken Jeevan Saral policy of Rs 24020/- pa premium for 35 yrs witn SA 5 lac. At the time of Policy I have shown the attached chart which shows the Guaranteed maturity amount of Rs. 16 Lac after 20 yrs. But later I came to know that this is fake and in all over India agents are taking policy by showing this chart . I made a meeting with the district Chandrapur LIC branch Manger but he says we can not do nothing,eventhough they are not telling actual maturity also because it depens upon the loyality declaration by LIC after 10 yrs.If LIC is doing such miscommunication to customer then it will lose the trust which LIC had!!!!!!!!!! Your urgent and immediate intervention is required.

    The surprising thing is that All Branch Managers of LIC in all over India are aware of this cheat yet they are not taken any action.





    How to surrender lic policy and how to download surrender form


    Attached Thumbnails Attached Thumbnails LIC fraud about Jeevan saral policy-jeevan-saral-atm-plan-chart%5B2%5D.jpg  

  2. #2
    Unregistered Guest

    Thumbs down LIC jeevan saral is big cheater.

    LIC jeevan saral is big cheater policy of them. I paid 24020 for three years and after three years they return just 41,250 rupees. big loss to me. stay away from such policy salers....but the time selling policy, they will say goldern peacock award and will show a fake return document based on fake percentagae 10%.

  3. #3
    kartik bhatnagar Guest

    Thumbs down LIC jeevan saral - My experiance

    LIC Jeevan Saral is big cheater policy. I paid 24,020 for three years {Insurance cover 5 L} and after three years they returned just 41,250 rupees. I have surrendered the policy, No body from their department will tell you truth about return of policy in 3 years, 5 years, 10 years .
    at the time selling policy, they will say golden peacock award and will show a fake return document based on fake return percentage 10% and will say lots of fake things based on loyalty addition bonus point etc. they will also compare, policy is better than RD in return.

  4. #4
    Unregistered Guest

    Post Jeevan Saral Fake Chart @10% Returns

    Jeevan Saral Chart shows 10% Returns which is fake leading to danger to LIC Agents reputations. Kindly discard it from market.

  5. #5
    Unregistered Guest

    Default LIC is never cheater or fraud

    If you see the Jeevan saral chart of Rs. 2000 per month i.e. 24000 PA but if you surrender the policy in 3rd year before maturity date; LIC will pay you just Rs. 40,964. All the customers are know if policy surrender before maturity date is loss of the customers.

  6. #6
    bbnayak5@yahoo.co.in Guest

    Default About jeevan saral

    SIR,
    Jeevan saral is never a cheating policy. because the loyalty addition starts to come after 10 years of completion of policy tenure. if anybody surrenders before 10 yr of policy term then he/she will loss.it is obvious. second thing the maturity value is assumed with 10% rate of growth. it is possible with LIC OF INDIA.Because it is the only company with history in india. so u people who do not know about jeevan saral do not misled it. it is sure loyal addition is a matter of performance, but it is purely a traditional investment plan with lic of india. so i think this plan is the best plan for the customers of lic

  7. #7
    Unregistered Guest

    Default Guide

    Hello,
    I have jeeven saral policy, I have completed the 5 year of premium . Yearly premium is comes 24000.
    Now i am going to surrender the policy. Please let me how much amount i can get ?

    AS per the LIC agent , If i can surrender after 5 year , then i will get Total premium paid amount ( 24000*5= 120000). Is this right ?

  8. #8
    a n d Guest

    Default is there any partial withdrawal in jeeven saral

    I have jeeven saral policy, I have completed the 3 year of premium . Yearly premium is comes 24260.
    Now i am going to partial withdrawal the policy. Please let me how much amount i can get ?

    AS per the LIC agent , If i can partial withdrawal, then i can reduce my policy to 1200 pa benifits instead of 24000 pa
    is that correct

  9. #9
    manav_bharti Guest

    Exclamation http://taxsavinginsurance.blogspot.in shows the fraud Jeevan Saral chart

    Dear Sir, I have seen the same fraud chart published online also at given link.

    Request you pls do something so that people do not get misguided by these cheatwrs charts.

  10. #10
    Unregistered Guest

    Unhappy take it easy guys.. if you will submit the policy before 10 years they will cut the 1 year premium

    Quote Originally Posted by Unregistered View Post
    Hello,
    I have jeeven saral policy, I have completed the 5 year of premium . Yearly premium is comes 24000.
    Now i am going to surrender the policy. Please let me how much amount i can get ?

    AS per the LIC agent , If i can surrender after 5 year , then i will get Total premium paid amount ( 24000*5= 120000). Is this right ?

    take it easy guys.. if you will submit the policy before 10 years they will cut the 1 year premium... as far as bonus % is concirned it is near about 6.5% not 10%... even though it is a cool policy not bad al all.....

  11. #11
    Unregistered Guest

    Smile jeevan saral

    may be good one if evaluated properly but pl note for investment go for separate way like PPF and go for term policy for insurance

  12. #12
    Unregistered Guest

    Cool Answer to unregistred person...

    Quote Originally Posted by Unregistered View Post
    Hello,
    I have jeeven saral policy, I have completed the 5 year of premium . Yearly premium is comes 24000.
    Now i am going to surrender the policy. Please let me how much amount i can get ?

    AS per the LIC agent , If i can surrender after 5 year , then i will get Total premium paid amount ( 24000*5= 120000). Is this right ?
    Answer is ="NO"....
    # You get only 70% amount of total paid premium before maturaty date....
    # If lic do not deduct 30% of paid paid amount (24000*5) then people do not maintain policy till maturaty date.....
    # lic deduct 30% for cover your risk till you paid premium....

  13. #13
    Unregistered Guest

    Default Jeevan Saral

    I see many confusing thoughts here. I have also researched this policy and thought of taking it but thinking of not to take. I will try to answer some of the points:

    1. AS per the LIC agent , If i can surrender after 5 year , then i will get Total premium paid amount ( 24000*5= 120000). Is this right ?

    >> No. That is not right. They will deduct the mortality charges and penalty for withdrawing earlier that the policy tenure. You wont be getting 1,20,000.

    2. The chart:

    >> The chart is calculated based on 10% return and without deducting the mortality charges. Also the candidates age is not mentioend there. If you are taking the policy lat ein ur age, then the return will not be as much shown in the chart. One should not go by chart and ask for specific illustrations and minimum sum assured at the end of the policy period.

    3. The policy:

    >> I got to know that this policy is an endowment policy. Generally, no endowmenet policy gives return upto 10%. One must safely assume a return of only 6% to avoid any disappoinments.

    >> Some expert are of the opinion hat a PPF would give better return if we keep investing in PPF with the same premium amount for the complete policy period year after year. This is because, the bonus amount in Jevan saral is not compounded.

  14. #14
    Unregistered Guest

    Default LIC is one of the faq company.

    LIC is a fraud company, because it's employees misguide to the peoples. LIC teases the customers and makes a fool to the customers by giving miscommitment only for selling its policies or plans. So please, I request to IRDA for stopping the activities by LIC.




    Thanks with Regards
    From A LIC User

  15. #15
    Unregistered Guest

    Default Difference in Period of payment of premium and time of maturity for same policy, for same person

    Taken Two Jeevan Saral policies from two agents one from south extension, NDelhi another from Kanpur.The detail of two policies

    Purchased from South extension agent Date of commen 20/7/2009, total premium 24020/-, accident benifit 500000/-, Death benifit500000/-, maturity sum assured 518160, date of maturity 20/07/2030, period to pay premium 21 years

    Purchased 2nd Jeevan Saral from kanpur agent Date of commen 28/3/2011, total premium 24020/-, accident benifit 500000/-, Death benifit500000/-, maturity sum assured 480400, date of maturity 28/03/2031, period to pay premium 20 years

    Why delhi agent is written in term/period to pay premium 21years and also maturity is also after one year compare to kanpur agent

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