LIC is a big brand in our country. That’s just for the namesake. 99.9% of the time they only take your money, and only 0.01% they settle claims. Rest all money they gulp down. They have all sorts of reasons in this world for "NOT" settling claims.
I had a similar experience too. I had a policy with LIC some time ago. After paying some premiums, I wanted to fore-close it. But the agent said, that if I want to close now, there is heavy penalty. Whatever premiums I had paid till date, 75% of it will be deducted! Can you believe? So whether I wanted or not, I had to continue it. All they say that everything. every rule is written in the policy document. I was helpless.
I hope my experience opens some innocent people’s eyes.
My Verdict: Stay away from LIC.Stay Safe!