Life Insurance Corporation of India pulled up for returning premium 3 yrs after receiving it

The LIC of India has been pulled up by the apex consumer commission for its failure to issue the policy to a woman in her life time despite receiving the premium from her and retaining it for nearly three years. The National Consumer Disputes Redressal Commission (NCDRC) also ordered the Life Insurance Commission of India to pay late woman’s kin a compensation of Rs one lakh.

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