LIC Nepal Draw Attention on Agent’s Fraud and Spread of Misleading News on Market

Kathmandu : LIC Nepal has drawn attention to the misleading news published in various media for the past few days. The company has requested the insured and the general public not to believe the confusion, criticism and negative content spread for the limited interests of some people.

In addition, it is mentioned in the statement issued by the company that it strongly condemns the propaganda against the company with malicious intent.

The company has given an explanation that after receiving the information that the loan was issued without the consent of one of the insured of the company, during the company’s investigation, in 2020, one of the agents promised to bring the necessary documents the next day, and then systematically withdrew the loan from the insurance of the insured without the consent of the actual insured.

It has been mentioned in the statement that the agent misused the same loan amount by issuing new bonds in his own code and receiving commissions and other declared rewards and incentives.

The company has drawn attention on the issue as follow : After about three years, the agent, in order to make himself appear innocent, had used the new insurances purchased under his own code with the loan amount, and the fact that he had used the commissions and other benefits received from the said agent, because it was seen that he had repeatedly transmitted the same fact to some media with the sole purpose of defaming the company.

When the company investigated in detail, it was clear that the agent was the main planner of the incident for which the relevant employees involved in that action were prosecuted according to the prevailing law and now the debt of the insurance policy has been paid and the insurance has been fully clarified.

The company also stated that the main person of the incident has been instructed to submit the explanation to the agent, but he has ignored it without giving any explanation about it.

In the capacity of the said agent, despite repeated requests to pay off the loan amount taken from this company as a loan, the loan has not been paid yet so far. Due to which Sudarshan Giri, the information officer of the company, said that he has been banned from matching the amount of commission and other benefits he will receive into loans and signing as a witness in new business and dedication and loans.

The company has requested the insured people who bought the insurance policy with faith in the company not to get confused and informed that the insurance amount is 100% safe in the company.

Similarly, the company challenged to legally confirm the bad publicity against the company and have requested the faithful insured to contact any branch office, agent or employee of this company if they have any updates, information or inquiries about their insurance.