I had taken Balanced Fund of ULIP in the year 2004 having policy number 891095202 for which I used to pay premium of INR 10000 per year and got maturity value of INR 129951 without any supporting of calculations. I did check based on market information and value should be substantially higher than amount credited to my account. I suspect wrong calculation and wrote multiple time to LIC’s grievence offices but no reply. Two letterrs were submitted asking for the details or basis of maturity value on 20th March & 7th April 2014. I also suspect that LIC by its own (without my knowledge/permission) change my plan from Balanced to growth fund to deceive me.

I need understanding on how the amount of maturity is calculated and if there is an error then the same needs to be reimbursed to me along with interest.

Email Id: modi_dakshesh@rediffmail