Relief news for LIC
There is a relief from the Supreme Court for Life Insurance Corporation. The country's highest court has refused to hear the plea for misleading and fraudulent insurers through the lucrative offer of life simple policy against LIC. The court rejected the petition of the Manifestee Foundation. The Manilife Foundation, in its PIL, had sought an immediate withdrawal of life's simple policy. It was said in the petition that LIC has misled the life of simple insurers and cheated them, but LIC has received great relief from the court.
LIC controversy over this policy
There is a dispute about LIC's simple policy policy. The company has been charged about this policy that the premiums paid for insurers for 10 years or more have been given a half rate of return. The Money Life Foundation alleged that this policy was arbitrarily prepared. In the petition, the demand for immediate withdrawal of simple policy of life has been sought. LIC has made huge amounts of money due to special offer in this policy, but people are getting negative returns. these
What is the whole case
LIC has been accused of making a big fraud on 'life simple policy'. A PIL has been filed in the Supreme Court on behalf of the Manilife Foundation on this policy, demanding immediate withdrawal of 'life simple policy' has been sought. Due to many special offers in LIC's 'Life Simple Policy', a large number of policyholders have invested in this policy. Concerned about this policy, the Manilife Foundation filed a petition in the Supreme Court accusing Life of a Simple Policy for fraud on a large scale. In this petition, it was claimed that the premiums paid for insurers for 10 years or more have been given a half rate of return.