I read a lot before writing this review and sorry for all the LIC lovers there but what I’m going to be writing are the facts and feel free to have them checked. Personally I have two policies in my name so its not like I don’t have a policy for me to vent my anger.
In the last 2 years, LIC has lost a good 16% of market share and its for a very simple reason, the agents are rogues who dont explain the finer print (like in all insurance companies) and secondly the company was taking its customers for granted till recently it felt the heat from competitors and started working on its customer service.
LIC lived on its monopoly since time immemorial and now its facing some real competition and I hope it mends its ways till its too late, the private players are really coming up with schemes offers to lure you compared to LIC’s market presence most of them haven’t been in the market for even a fraction of time. SO LIC watch out