LIC has been misguiding customers for years by hardselling money back plans instead of term plans, where profits are less. Term plans are deliberately kept expensive. What ordinary citizens need is more risk cover, but agents actively misguide them. LIC works only for agents welfare and not for customers.
Re: LIC has been misguiding customers for years
by Sivasankaran kannan on Sep 11, 2013 02:58 PM
I agree... Also, the congress government is looting public money via LIC.. LIC became ATM for government to sell the psu shares with high rate and thro the money after useless schemes they orchestrate for vote bank capture..
Re: Re: LIC has been misguiding customers for years
by Rajaram on Sep 11, 2013 04:15 PM
LIC is a useless investor. I took LIC Dhan 80 CCB in 1987 as it was eligible for 100% tax benefit.Unfortunately, when it matured, its NAV was only Rs 5.8 (against the issue price of Rs 10/-) and they deducted Tax at source also. Finally I got back around Rs 4000 for an investment of Rs 10000.
Re: LIC has been misguiding customers for years
by ramesh on Sep 11, 2013 10:45 AM
wow man..i do just realize that..your final point it completely true...just wondering how these utter many agent worms are suriving without any work
Re: LIC has been misguiding customers for years
by sanjay jhala on Sep 11, 2013 12:29 PM
I completely agree with you my father never like any policy from LIC but now i select 2 only risk covering policy
Re: LIC has been misguiding customers for years
by tapan baidya on Sep 21, 2013 12:24 PM
I am also agree with you and never suggest any person to invest on LIC , i have invested 4 lacs in market plus in year 2010 and after 3.5 yrs i got only 3.8 lacs...they are looting indians hard earned money with the help of their so called LIC agents
