Six hundred women under the aegis of Oleena Mahila Samajam, Kozhikode, is planning to stage a protest in front of the Life Insurance Corporation (LIC) divisional office here demanding action to solve the problems related to LIC micro-insurance schemes.
The Samajam has been making the demand for quite some time following complaints from policy-owners that they were not being paid the whole amount when their policies matured. In fact, the Samajam had contacted the Insurance Regulatory and Development Authority (IRDA) which, in turn, directed the LIC to find an amicable solution to the problem.
IRDA letterRecently in a press conference, Samajam chairperson T. Sujatha complained that the LIC was turning a blind eye to the issue. She said it had neglected the letter from the IRDA giving clear instructions to solve the problem. She also complained that a meeting convened at the LIC divisional office on October 1 did not follow the directions of the IRDA and was ultimately a farce.
She complained that LIC did not give the Samajam enough time to compile the facts in their argument.
The micro-insurance policies were introduced by the LIC for the convenience of weaker sections of the society.
Now the policy-owners got only 60 per cent of the amount when they withdrew it. The Samajam was planning to stage the protest in front of the divisional office until the issue is solved, Ms. Sujatha said.
