The complainant Jayajit Rana has submitted the Policy Bond paper and Passbook before the O.P. No. 1 who remitted the same to the O.P. No. 2 & 3 for sanction of the loan amount, but till date the O.Ps have retained the policy bond and passbook of the PLI Policy though the complainant has paid the entire loan amount with interest.
The complainant has been approaching personally and in writing to the Branch Postmaster, Sahajat for release of the Policy Bond and passbook still the O.P. No. 1 has not been released the Bond paper and passbook of the PLI Policy.
Due to original policy bond and passbook the further premium of the policy. The O.P. No. 1 has not received the monthly premium of that policy from 03.10.2016. The O.Ps have arbitrarily collected Rs. 331/- on dated 03.10.2016 towards interest of the advance loan taken by the complainant and he has given assurance to returned back the original policy bond and passbook to the complainant.
For that, accordingly to the complainant, it is a clear deficiency in service caused by the O.Ps to the rural people for the insurance policy for which the complainant is suffering financial hardship and mental agony by the O.Ps.
The complainant has relied upon the following documents :-
- Copy of R-OR-BF-EA-19420 dated 24.03.2005 Class & sum assured EA/50 Rs. 25,000/-
- Copy of Loan A/c No. Loan /BPI-130/R-OR BF –FA-19420 dated 15.04.2015.
- Copy of Money receipt vide No. 116542 dated 27.06.2015 with endorsement dated 20.01.2016.
- Copy of Loan repayment Quote 07.09.2016.
- Copy of Money receipt for Rs. 331/- dated 03.10.2016 of N.Tanwat post office.
- Copy of application dated 15.06.2016 and 03.10.2016.
- Copy of letter dated 07.04.2016 issued from Supt of Post Office Kld.
- Copy of letter dated 17.09.2016 issued from Inspector of Post Offices,Nuapada.
The complainant has claimed :-
- For release of Policy Bond paper and original Passbook vide No. RPLI R-OR-BF-,EA 19420.
- For release of Rs. 331/- excess amount collected by O.Ps as interest towards payment of premium.
- For a direction to received the arrear premium which has not been received by the O.P. No. 1 due to want of original passbook and without charging interest by the O.P. No. 1 on the amount not paid in due time of payment of monthly premium.
- A compensation of Rs. 10,000/- for mental agony suffered by the complainant due to deficiency caused on the part of the O.Ps.
- The cost of litigation of Rs. 5,000/- and any other relief as the Hon’ble Forum deem fit and proper. The complainant has filed the complaint petition along with an affidavit sworn by him.
The Opposite parties filed their version/written statement on dated 21.02.2017. They admitted the postal life insurance and the collection of monthly premium of Rs. 117/- from 24.03.2005. As the record of O.Ps shows the matter in terms of Rule 59 (i)(b) of Post Office Life Insurance POLI Rules 2011, the loan may be granted on security of RPLI policy on the security of Endowment Assurance Policy, further in terms of Rule 59 (2) of the said policy shall be returned to the insurant after the loan amount and interest are completely paid. The postmaster cum Manager Central Processing Centre, Bhawanipatna is the custodian of policy against which loan has been taken. The O.Ps have enclosed the extract of Rule 59 (i)(b) and 59 (2) of POLI Rules 2011. The O.Ps have submitted that policy bond can only be returned to the insurant only after full repayment of loan amount and accordingly the O.Ps retained the policy bond till complete payment of loan amount including interest.
As per POLI Rules, 2011, interest for the half year will be charged on the amount outstanding on the first day of the half year and any payment made during that half year will be taken in to account for calculation of interest only for the next half year. Accordingly the interest on the loan accumulated as on date of repayment i.e. 22.06.2015 was Rs. 600/- but Rs. 300/- was paid by the insurant / complainant to clear total outstanding balance the complainant was requested to credit Rs. 331/- which he did.
In response to the complaint petition filed by the complainant as alleged the O.Ps have neither deficiency in rendering service or liable for any compensation claimed by the complainant. The O.Ps have claimed that the policy bond and preliminary receipt book has already returned to the complainant. hence the consumer complaint case is not maintainable and devoid of any merit is liable to be rejection.
Hon’ble Forum has observed that, the petitioner/complainant has claimed for release of the insurance policy bond and original passbook and claimed for release of Rs. 331/- as collected by the O.P. No. 1 for the interest of the monthly premium deposited in later stage due to lack of the original pass for PLI. The O.Ps have kept the original passbook (PLI) and insurance policy bond till realization of loan against the PLI depositor than the O.Ps have to delivered the original passbook along with insurance policy bond paper after the loan amount would be paid by the complainant till 22.06.2015. Due to lack of original passbook being kept by the O.Ps after clearance of loan amount the petitioner has suffered a lot on financial ground for not to deposit the premium in time, though the postal life insurance policy is in force till today up to 24.03.2026. The O.Ps has appeared before the Forum on 31.01.2017. Then and there after sometimes the O.Ps have given the original policy bond and passbook to the complainant. The interest collected by O.Ps within the period when the passbook and insurance bond paper is with their hand to recover the loan amount they have collected the interest on that period which was rightly collected to as terms and conditions of the PLI Policy.
After 22.06.2015 when all the loan amount was recovered by the O.P. from the petitioner he should returned the original bond and passbook to the complainant/customer for smooth deposit of the monthly insurance premium by his valued customer. The petition and version of O.P. reveals that the original documents are in the hands of O.P. till filing of this case by the complainant for that the O.Ps are liable for nonpayment of the premium deposit for revival of the policy which has been in force till today. The complainant being a villager unable to knocking the door of O.Ps properly in time still the O.P. No. 2 & 3 has submitted letter to the complainant dated 07.04.2016, 17.09.2016. The complainant has neither submitted the information relating to the present closure of the said policy in his petition and at any stage of hearing through his counsel. The O.Ps have submitted that all the documents filed by the complainant after clearance of loan amount the original policy documents has been returned to the complainant and the O.Ps have collected excess amount as per petitioner’s claim was during loan period when all original documents with their hand which was submitted by the complainant to obtained a loan against his PLI deposit.
The Hon’ble Forum has observed from the documents and petition of the complainant version filed by the counsel of the opposite parties reveals that, if the original document received by the complainant in time for deposit of his monthly premium from the O.Ps in time. The complainant case does not arisen to create an issue relating to this by the complainant, for that the O.P. is deficient to provide proper service to his value based customer of rural areas and liable to be compensate the allegation alleged by the rural complainant.
O R D E R.
The Hon’ble Forum has directed all the opposite parties to settled the claims and regularize the postal life insurance policy by collecting premium regularly, if the complainant has agree to surrender the policy or run the policy up-to-date till the maturity. The O.Ps have to settled by personal contact with the complainant within 3 (three) months from the date of order. The O.Ps has to intimate by written statement relating to the case and the intention of the complainant within that period to comply the order.
Again the record shows the O.Ps are liable for the non delivery of the original policy bond and passbook which create non regularization of policy to the complainant for which the O.Ps are severally liable to pay Rs. 2,000/- (Rupees two thousand) only towards cost of litigation and Rs. 5,000/- (Rupees five thousand) only towards mental agony and harassment within 3 (three) months from the date of order, failing which they will pay 9% interest per annum from the date of order.
Order pronounced in the Open Court of the District Consumer Disputes Redressal Forum, Nuapada, this the 18th day of August 2017.
