Non-implementation of Ombudsman's Award by LIC of India, Surat
Insurance Ombudsman, Kochi, gave an Award in my favour against LIC of India, Surat, with regard to annuity of Jeevan Suraksha Policy issued by LIC of India, Surat, in 2001. The Ombudsman, Kochi, directed that LIC should pay the annuity as stated in the Policy, but LIC Surat is refusing to implement the Award given by the Ombudsman on 30th Oct 2014. I took up the matter with Chairman, IRDA as well as with Chairman, LIC, who are keeping silence on the implementation of Award by LIC Surat. As per the policy, LIC should pay an annuity of Rs.18998/- per year but LIC is paying only Rs.17484/- per year on the plea that there was a bonafide error at their end which they never informed me during the currency of the policy i.e. 11 years. Only on my query about the disparity in the annuity, they replied that there was an error which even Ombudsman did not upheld. Kindly advise me how to proceed further for redressal of my grievance as I feel LIC is denying me natural justice by way of not implementing the Award given by Insurance Ombudsman, Kochi.