Dear Sir, My self Mr. Satya Narayan Mundra worked with M/S Blue Star Limited brief you my case below. 1. I had worked with Blue Star Ltd. for the period 13.10.2006 to 29.11.2011. 2. As per company scheme , I opted for contribution towards supper annuation. 3. While leaving the company , I had filled the application form and give it to the employer. The annuity option was selected in impression ( as told by the employer) that the capital money will be returned to me in next 5 years. I had not been informed by any person from LIC about the implication of all option available. 4. The company invested my accumulated money and purchase the annuity for Rs.3,58,205/-. 5. I got the letter dated 7.4.2012 form LIC , Santacruz (W), Mumbai on 21.4.2012 for purchase of Annuity No. 089M0229027602 , Master Policy No.12505 for Rs.358205/- . 6. Upon receipt of above mentioned letter , I sent mail on 23.4.2012 to LIC , Santacruz (W), Mumbai to inform me how my capital amount Rs.3,58,205/- will be returned to me in addition to monthly pension of Rs.2345/- in the event of anything happen to me. 7. I got the response on 26.4.2012 from Ms. Neelima , AO Annuity. I called here immediately and upon getting the clarification form her , I shocked by knowing following. A. I will get monthly Annuity Rs. 2345/- from 29.3.12 to 28.2.2017. B. If I alive after 5 years , annuity will be continued subject to submission of my alive certificate to your office. C. If during the period of 5 years mentioned in point ‘A’ above , anything happened to me , in that case nominee (my wife) will get the pension till 28.2.2017 and after that no pension will be paid to her and also capital invested Rs.3,58,205/- will be lapsed and will not be returned to nominee. In this case I will lose my capital amount Rs.3,58,205/-. D. The above annuity is not taken jointly in name of my wife. E. I will never get refund of capital invested Rs.3,58,205/- , even to my nominee. 8. I immediately requested them to change the annuity option , so that I can get the pension for life time and thereafter the capital amount Rs. 3,58,205/- is refunded to the nominee. As the pension was started in current financial year and you can change the option before the end of this financial year by 31.3.2013. 9. I got the first payment of pension in April’2012 10. I was continuously following with LIC Santacruz (W), Mumbai vide my mail dated 26.4.2012, 4.5.2012, 4.2.2013, 13.2.2013 , 11.3.2013 to change the option so that I can get refund of my capital to my nominee after anything happened to me.They revert on 26.4.2012 that once the payment is started it cannot be changed. 11. After approaching the higher authorities , I got reply from AS ( P&GS) on 15.2.2013 given below . “You have opted for pension option of 5 years certain plus life. The pension form is signed by you and on the basis of the option exercised by you the pension payment has been effected. Hence, once an option is exercised the same cannot be revoked or modified.” From the above it is clear that I will lose the capital invested Rs. 3,58,205/- . I had no intention to opt such option under the policy . I have not been explained the implication of such option by the LIC officer/ employer .

I have the rights to request to the LIC to change the option and they can pay less or more the pension amount. I humbly request you to please accept my grievance and allow to change the option, so that I can get the pension for life time and thereafter my hard earned money , the capital amount Rs. 3,58,205/- is refunded to my nominee. As the pension was started in current financial year and you can change the option before the end of this financial year by 31.3.2013. If you want any information in this regard you can get from your Santacruz (W), Mumbai branch . I regret for the inconvenience caused to you and I hope you will allow me to change the option.

Thanks & Best Regards, Satya Narayan Mundra A-403 , Arihant Residency Opp. Asopalav Complex , Chharwada Road , Vapi(E) , 396 191 Dist. Valsad , Gujarat