Mis- Selling Of Lic Jeevan Saral | Life Insurance
This year onwards, a large chunk of Jeevan Saral policies, sold by the Life Insurance Corporation of India (LIC), will mature and policyholders in the higher age group who bought these will get a rude shock. They will find that they have been duped into getting half, or less, of what they paid by way of premiums over 10 or more years. At that juncture, they may decide to take legal action. LIC, on the other hand, anticipates these legal fights and seems to be determined to save its skin by doggedly fighting on and taking the cases to higher courts, to avoid having to compensate the policyholders. The government-backed insurance behemoth is not interested in being fair to millions of Indians who have, over generations, wholeheartedly trusted the brand.
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