IN THE COURT OF THE LD. DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT S I L I G U R I.

CONSUMER CASE NO. : 44/S/2014.                      DATED : 31.03.2016.            

BEFORE  PRESIDENT              : SRI BISWANATH DE,

                                                              President, D.C.D.R.F., Siliguri.

                      MEMBERS              : SMT. PPRATITI BHATTACHARYYA &                     

                                                              SRI PABITRA MAJUMDAR.

COMPLAINANT                 : NIRMAL KARMAKAR,

  Railway Qtr. No.109/A, Central Colony,

  NJP, P.O.- Bhaktinagar,

  Dist. – Jalpaiguri, Pin – 734 007.

O.P.             1.                  : BAJAJ CAPITAL INSURANCE BOOKING LTD.,

  Elite Plaza, 1^st Floor, Sevoke Road,

  Opp. Vishal Cinema Hall, Siliguri – 734 001.

2.                     : OPERATION, BHARTI AXA LIFE INSURANCE

              COMPANY LTD.,

  7 Kid Street, 1^st Floor,

  Kankaria Mansion, Kolkata – 700 016.

FOR THE COMPLAINANT         : Sri Santanu Chakraborty, Advocate.

J U D G E M E N T

Sri Biswanath De, Ld. President.

The case of the complainant in brief is that the OP No.1 organized a Quiz Competition on 11.11.2013, and the son of the complainant was selected for award of a prize, and when he went to the office of the OP No.1 to receive the prize, the officials of the OP No.1 persuaded the complainant to open a policy with them, whereupon he would get some benefits relating to payment of tax, child’s education, and reimbursement of medical expenses for the parents.  The complainant agreed to open the policy, and gave a cheque of Rs.49,000/- on 11.11.2013, along with a cancel cheque, and the OP No.1 issued him a policy bond of Rs.24,425.72/- in the name of his eldest son.  The complainant claims that the OPs did not issue him any other policy on time, though he made the proper payment.  Later, when he got in touch with OP No.2, he was issued a second policy of Rs.24,426.61/- in the name of his younger son.  The

Contd.....P/2

-:2:-

complainant later wanted to withdraw the policy, since he was not convinced about the genuineness, and he wanted to obtain return of his money, but he did not get any such relief.

OP Nos.1 & 2 appeared and contested the case by written version denying inter-alia all the material allegations as raised by the complainant.  OPs have further stated that Shri Nirmal Karmakar being proposer/complainant himself approached the OP for the issuance of Insurance Policies.  The proposal forms were received by the OP which was duly filled and signed by the complainant after going through the “Illustration of Benefit” sample illustrations of the maturity value and understanding the scope, meaning and contents of the Proposal form.  OPs have further stated that the complainant at the time of submitting the proposal form also signed a Consumer Declaration, wherein at clause (a) he declares and states that “I/we have received, read and fully understood the product brochure and Benefits Illustration of Bharti AXA Life Insurance Co. Ltd.”

OP No.2 has further specifically stated that it has never received any complaint for policy bearing No.501-1454559 from the complainant before receiving the complaint copy from your Hon’ble Forum.  OP has specifically further stated that the said Policies were issued on the basis of the requirements and information furnished in the Proposal forms, benefit illustrations and other documents furnished at the proposal stage.  Further the policy document along with the copies of the Proposal form and signed benefit illustrations were dispatched by the opposite party to the Complainant at the address mentioned in the Proposal form along with a covering letter mentioning inter alia regarding the free look period in this regard, the OP would like to draw Hon’ble Forum’s attention to Clause 6 (2) of the Insurance Regulatory and Development Authority (Protection of Policy holders’ Interests) Regulations, 2002 wherein every policy document sent by the Company is accompanied by a forwarding letter which clearly states that in the event that the Policyholder is not satisfied with the features or the terms and conditions of the policy, he can withdraw/return the policy within 15 days (i.e., under the “Free Look period” provision) from the date of receipt of policy document.  The OP states that the complainant retained the Policy document and did not invoke the free look option thereby implying that he had agreed to whatever information provided in the Proposal form and had agreed to the Policy terms and conditions mentioned in the policy document.  In view of what has been stated above, the aforesaid Policy8 cannot be cancelled under the Policy terms and conditions. 

Contd.....P/3

-:3:-

The complainant has filed the following documents :-

1.       Acknowledgement dated Nov 12/2013 Amt Rs.24426.00.

2        Acknowledgement dated Nov 12/2013 Amt Rs.24427.00  

3.       First premium receipt for Sayantan Karmakar.

4.       First premium receipt for Anirban Karmakar.

5.       Payout Request Form (2 pages).

6.       Application for free look cancellation of the policy. 

7.       Letter of confirmation from the Bharti Axa Life Grievance Redressal Cell, dated 14.01.2014. 

8.       Letter from Bharti Axa Life Ins. Dated 27.01.2014.

9.       Letter of complaint dated 24^th Feb/2014 through E/mail. 

Points for decision

1.       Whether there is deficiency in service on the part of the OPs ?

2.       Whether the complainant is entitled to get the relief as prayed for ?   

Decision with reason

All the issues are taken up together for the brevity and convenience of discussion

Complainant has filed Evidence-in-chief where he stated that now he intends to withdraw the policy amount paid by him in lie off two policies and to that effect he informed his willingness to the OPs.  But the OPs declined and stated that the complainant did not adopt the condition laid down free look option even after receiving the policy.  As per terms and conditions of the company it is not possible to return back the money.  It is also stated by the OP that the complainant came to their office and took the policy.  The complainant also stated that he went to the office of the OPs and purchased the two policies. 

The complainant has approached before this Forum to get back the money which has been paid by him to the OPs. 

The OP intends to say to act as per law given in para 6 of the terms & condition as laid down in Section 6 & 13 which runs as follows :-

6.       Surrender Value : Guaranteed Surrender Value : Provided that the Premiums have been paid for at least first three Policy Years, the Policy acquired a minimum guaranteed Surrender Value which is equal to 30 % (Thirty percent) of all the Premiums paid excluding the Premium paid for the

Contd.....P/4

-:4:-

 Policy in the first Policy Year and all extra premium (if any).  The Company may allow surrender values at such other rates not less than the Guaranteed Surrender Values specified above.  These rates will be declared by the company from time to time. 

13.     Free look option : It you disagree with any of the terms and conditions of the Policy, then you have the option to return the original Policy Bond along with a letter stating reasons for the objection within 15 days of receipt of the Policy Bond (“the free look period”).  If you have applied for this product online & if you disagree with any of the terms and conditions of the Policy, then you have the option to return the original Policy Bond along with a letter stating reasons for the objection within 30 days of receipt of the Policy Bond (“the free look period”).  The Policy will accordingly be cancelled and an amount equal to the Premium paid less stamp duty and medical cost, if any, will be refunded to you.  All rights under this Policy shall stand extinguished immediately on the cancellation of the Policy under the free look option.   

Moreover, the complainant did not take Free look option and he had opportunity to send back the policy as per provision of free look option and that too within 30 days from the date of receipt.  But the complainant did not take the recourse of that provision.  The allegation of the complainant is baseless as per terms, condition, procedure as laid down in the policy itself.

So, after deep deliberations, we are of opinion that the complainant’s case is not sustainable in law and fact.

Therefore, the case is fails.

Hence, it is

                    O R D E R E D

that the Consumer Case No.44/S/2014 be and the same is dismissed on contest but without cost.  

Let copies of this order be supplied to the parties free of cost.