Just like the complaint against Icici bank for losing/ misplacing documents…here is one against Lic Housing finance…
from another reader…
My wife and I had a similar experience with LICHFL in May-2011.
We had jointly taken a housing loan against LIC policies kept as collateral with them.
They had given us an appointment 3 months in advance for meeting their officials and collecting the loan-closure documents along with our original insurance policies.
When we reached there at 11:00 AM, were told that our file is at the bottom of the pile in a list of 10 customers. We didn’t even bother to ask why they couldn’t have called us at 2:00 PM, to avoid wasting our time !
At around 4:00 PM we were still awaiting our turn.
Finally when we were the only ones left in the waiting area, I went and sat opposite the lady and asked her what was the reason for the delay. She mumbled something about some paper missing from our file, and asked me to wait for a little more time.
At 4:30 PM when I had lost my patience and cool, she finally admitted that our original policy documents were not in the file, and were not traceable in their archives either !!!
We asked to see her manager, who heard us out patiently, and reassured us that she would ensure a resolution for the problem within 15 days. And if the policy documents were not found by then, they would arrange for duplicate policy documents within another 15 days.
When I checked with her after 15 days, she told me that they would initiate the process for issuing duplicate policy documents, as they had not located them yet.
After repeated follow-up phone calls and emails, we finally got the duplicate documents after almost 3 months.
They took such a long time to arrange for duplicate documents from their parent organization. I can’t even imagine what would have happened if they had misplaced the property registration agreement !
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