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Thread: policy premium of Reliance LIC Policy

  1. #1

    policy premium of Reliance LIC Policy

    Dear Sir

    I have a term policy from Reliance Life with annual premiun of Rs 6345, now the company is demanding Rs 6420 for premium by saying that due to service tax the premium is hiked. pl let me know what is the correct status , whether the company can do the changes and whether I should pay the increased premium, as the LIC do not make any changes
    ashutosh chandrayan

  2. Re: policy premium of Reliance LIC Policy

    Reliance Insurance being private organisation would not be covered under the definition of "Public Authority" under the RTI Act.

    Service tax is levible on the insurance premium (Check the Q&A on Service tax on Insurance Premium) , therefore RI perhpas has increased the premium.

    You can always write to your company ask for the explanation as to what amount of Service Tax is included in your premium.
    If you don't ask, you don't get. - Mahatma Gandhi

  3. Re: policy premium of Reliance LIC Policy

    Dear Ashutosh

    Please also see : How to manage consumer problem - Big Helpers Community

    And: Big Helpers Community - Right To Justice



    RTI INDIA: Invoking Your Rights. We provide easy ways to request, analyze & share Government documents by use of Right to Information and by way of community support.

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