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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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
