LIC has no ethical standard. Their commitment are all fake and IRDA don’t bother to take any action against them.
My experience and people who invested along with me.
I invested amount X for 6 year in 7th year I had emergency to surrender the policy.
After surrender I got 25% less than the total amount I deposited. (minus(negative) 20% return)
During selling policy they shows some chart and claim for 7% return and average 15% return per year.
Other pathetic point about LIC.
They do not have centralized process . So for any issue you allways have to contact the branch you had open the policy.
I see most of the time do some mistake in policy . Correction process really frustrating.
They technology are quite old and annoying.
I am cheated and saw people being cheated So wanted to wan people .
BEWARE OF LIC!