I joined Jeevan Varista scheme with LIC, when it was made,for Senior Citizens, to help them.It was basically in nature a fixed deposit and did not give life cover or premium payment to be made. it was a one time payment as fixed deposit. it was made by govt, to provide 1% more interest, to the Senior Citizen.LIC got this 1%, reimbursed by govt.so LIC basically got funds for investing
At that time ,there was no policy when you can opt out of the scheme.Also ,no condition that you will have to forfiet 2 % of your capital on asking back your money.
When later one wanted to opt out, it was told that cannot be done. Later, it was allowed for withdrawal for meeting medical financial needs of the members of this scheme. No mention was made of deduction from capital amount. It is now made a condition ,mid stream,that if you want to withdraw, this is consider as premature withdrawal of deposit/ policy, and you are forced, under duress [as you require urgently to meet critacal medical needs] to submit a Surrender Paper agreeing to give up 2 % of your capital amount.
Also it is told it will take 1 month to get your money back [which itself is suprising]. In my case it took 2 1/2 months after repeated follow up, at many levels. How does one on critical list survive, before receiving your own money,expedisiously, to undergo operation.
At the same time, interest is stopped from day one, coming in through ECs.
Also the amount due to you is calculated upto date of approval of payment ,while later stage paper work is done by LIC and cheque sent by post. Even after hand collection of cheque , it took 5 days , for money ,to be credited to a/c. Who will pay interest for these days when LIC is earning interest with/on the funds in this account, and you are under agonising physical pain and mental torcher. It is the story of Sylock in Sheakspere Play. The scheme which was made to help is used for torture and extracting money from Senior Citizen, under practically coericen.
It is illegal to take out 2 % of your capital, under guise of premature withdrawal with a gun held to your head.

Dear Sir
Ihad made a request for transfere of my policy no 140342531 from mumbai to delhi 33A branch.Though it is over one year problem has not been resolved and I could not pay premium dues in 2011.
Will u plese look into it as all my requests are falling on deaf years.
Harshdeep Chandhoke
9999777039

dear Sir, I,am policy holdre of lic pandharpur branch.When I visit pandharpur branch the total office staff has not given cooperation Iwant loan on my policy ,they says
that the loan will you get after 20 days,I ask them I want imigeate loan check