LIC Agent: Misleading, Cheating & Criminal Breach of Trust
2 years ago
I had purchased Money Back Plan (New Bima Bachat Table 816) from LIC in October 2014.
The agent gave me 100% fake & inflated figure of Loyalty Addition of Rs. 7,50,000 (Bonus - Notional Profit), to be gained at the time of maturity after 9 years, which actually happens to be only Rs. 75,000.
The agent had given me full-detailed table of benefits by E-mail on his letter-head under LIC's Logo.
He is now pointing at the "DISCLAIMER CLAUSE" mentioned therein, that "the figures furnished in illustration are only indicative & may differ depending on insurer's performance".
As such, I surrendered the policy pre-maturely after 6 years (rather than stipulated maturity after 9 years) bearing capital loss of Rs. 3,75,000.
This is a problem with LIC Agent & NOT with LIC.
Is there any possibility of claiming the capital loss of Rs. 3,75,000 from LIC Agent & / OR from LIC, outside the scope of Disclaimer Clause?
Please advice.
Thank you very much.
Ayantika Mondal @ Prime Legal
Responded 2 years ago
LIC has to take responsibility. You can sue LIC as there is a principal-agent relationship between LIC and its agent and the principal is responsible for the actions of their agent.
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You can sue LIC as there exists a principal-agent relationship between LIC and the Agent. The principal is responsible for the actions of the agent which is done in his official capacity.
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Vaidehi Samant
Responded 2 years ago
A.You can either file civil case or a consumer case in the district consumer Court for deficiency in service and claim compensation in accordance. Thank you.
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