LIC warns Policyholders about unofficial policy acquisitions
Mumbai, June 24, 2024: The Life Insurance Corporation of India (LIC) has issued a notice to its policyholders in light of recent news articles and publications about some entities offering to acquire LIC policies. These acquisitions, presented as an alternative to surrendering policies to LIC, have raised concerns among policyholders.
LIC clarified that it is not associated with any such entities or the products and services they offer. Any statements made by former LIC employees or personnel regarding these entities are personal opinions, and LIC disclaims any responsibility for them.
The notice emphasized that any sale, transfer, or assignment of LIC policies must comply with the Insurance Act, 1938, particularly Section 38. LIC reserves the right to refuse any such transactions if it believes they are not genuine, not in the policyholder's best interest, not in public interest, or intended for trading insurance policies.
LIC urged all policyholders to exercise caution before making decisions about their policies, which could jeopardize their financial security and the risk cover for their families. They advised consulting LIC officials at their branches before responding to any such offers.
LIC reaffirmed its commitment to transparency and protecting its policyholders' interests. For further information, policyholders can contact the Executive Director (CC) at LIC's Central Office in Mumbai via email at ed_cc@licindia.com or visit their website at www.licindia.in.
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Lokayukta ADGP M. Chandrasekhar calls Kumaraswamy’s allegations ‘false, malicious’
Bengaluru: Lokayukta ADGP and Special Investigation Team (SIT) chief M. Chandrasekhar has strongly refuted the accusations of Union Minister HD Kumaraswamy and termed it ‘false and malicious.’
"HD Kumaraswamy, an accused in SIT's case no.16/14, made false and malicious allegations and threats in a press conference today," said Chandrashekar.
Chandrasekhar stated that these allegations were aimed at intimidating SIT officers, particularly as the SIT has sought legal action against Kumaraswamy, who is currently out on bail. "These accusations were made to prevent us from fulfilling our duties," Chandrasekhar remarked, adding that no matter the status of the accused, they will be treated fairly and according to the law.
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He further mentioned, “By attacking me, they may have intended to strike fear in the minds of the SIT officers. However, Chandrasekhar said that no matter how high in position and mighty an accused is, he is just an accused. We will not be deterred by such accusations and threats. I work fearlessly and impartially as SIT head, and promise to give justice to all. I also promise to protect you from criminals and accused in our cases and from external influences.”
Retorting to Kumaraswamy's allegations, Chandrashekar cited George Bernard Shaw’s famous quote, "Never wrestle with pigs. You both get dirty, and the pig likes it," explaining that although they may have to face criminals and accusations in their line of duty, they must remain steadfast in their mission.
“Never lose hope. Because truth always wins. Let us believe in truth, God and our law.Satyameva Jayate,” the letter read.
