IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Friday the 14th day of February, 2014
Filed on 09.09.2014
Present
- Smt. Elizabeth George (President)
- Sri. Xavier Antony (Member)
- Smt.Jasmine.D. (Member)
in
C.C.No.273/2013
between
Complainant:- Opposite Party:-
Sri. Varghese George Aviva Life Insurance Co. Ltd.
Assariparambil House Represented by Branch Manager
Varampur, Venmoney P.O. Aviva Life Insurance Co. Ltd.
Chengannur – 689 509 Kizhakkethil Arcade, Nagampadam P.O.
Represented by Power of Attorney Kottayam
Darly Varghese, W/o Varghese George
-do- -do-
(By Adv. George Thomas)
O R D E R
SMT. ELIZABETH GEORGE (PRESIDENT)
The case of the complainant is as follows:-
The complainant subscribed to a policy of the opposite party commenced on 19.10.2007 with product name ‘Save Guard”, Code RSG 1720841. The premium amount was Rs.48000/- to be paid annually. At the time of subscription to the above said policy, concerned officials of opposite party company disclosed that after remittance of three premium installments the amount will be doubled and the policy holder will have the liberty and option to withdraw the same without loosing other benefits. The complainant remitted three annual premium installments in time. First premium amount was remitted on 19.10.2007, second on 25.11.2008 and third on 22.10.2009 in total to an amount of Rs.1,44,000/- and thus complied with the directions of opposite party. Hence the complainant is entitled to receive an amount, double to the amount remitted with the opposite party company. Subsequently the complainant received a letter from the opposite party dated 30.10.2012 intimating that the company has terminated the policy of complainant and is learnt from the said letter that the complainant is entitled to an amount of Rs.88,403/- instead of the amount accumulating to Rs.1,44,000/- and other benefits accrued thereon. The complainant also received a cheque for an amount of Rs.88,403/- with cheque No.423563 dated 25.10.2012 drawn on Mumbai branch of Axis Bank Ltd. After the receipt of the cheque from the opposite party, the complainant approached the officials of the opposite party and they declined to tender amount double to that of the amount remitted. The act of the opposite party is illegal and against natural justice and the terms and conditions. Hence the complaint is filed directing the opposite parties to pay an amount of Rs.1,99,597/- along with interest at the rate of Rs.12% from the date of last installment with compensation and costs.
2. Notice issued against the opposite party returned with remark as “refused”. Hence the opposite party is set exparte.
3. The points for consideration are:-
1) Whether there is any deficiency in service on the part of the opposite party?
2) If so the reliefs and costs.
4. Complaint is filed by the power of attorney holder of the complainant. The Power of attorney is marked as Ext.A6. The power of attorney holder filed the proof affidavit. Other documents produced were marked as Exts.A1 to A5. According to the complainant he subscribed to a policy of the opposite party commenced on 19.10.2007 and remitted the three annual premium installment amount at the rate of Rs.4800/- without any default. Exts.A1 to A3 evidence the same. Thereafter on 30.10.2012 the complainant received a letter terminating his policy. Ext.A4 evidence the same. It is clear from Ext.A4 that the total premium paid by the complainant is Rs.1, 44,000/- and the fund value as on date of termination is Rs.1,40,750/- and the amount surrendered is Rs.80,403/- only. Ext.A5 shows that the opposite party has sent a cheque for Rs.88,403/- dated 25.10.2012 to the complainant. Complainant also admitted that he has received the same. As per Ext.A4 the policy of the complainant is terminated, since premium due against the policy have not been paid and period allowed to pay has also expired. The complainant remitted 3 installments without any break and he was under the impression that after the remittance of 3 premium installments, the amount will be doubled. Because, according to the complainant at the time of subscription of the said policy, the officials of the opposite party told him that after the remittance of 3 premium installments the premium installments of the amount will be doubled and complainant will have the liberty to withdraw the same without loosing other benefits. From the records produced, it is clear that the complainant remitted premium till 22.10.2009. Thereafter no notice was issued to the complainant from the opposite party reminding the next due date or demanding the complainant to remit the next premium amount. It is only after 3 years, the cheque for the surrender amount was received by the complainant. Without any notice the opposite party has no right to take the decision unilaterally terminating the policy of the complainant. The non releasing of the total premium paid by the complainant amounts to deficiency in service on the part of the opposite party. The allegations of the complainant has not been challenged by the opposite party. The affidavit filed by the complainant stands unchallenged. The opposite party has sufficient time to contest the case, but they did not turn up. From evidence adduced by the complainant, we are allowing the complaint.
In the result, the opposite party is directed to refund an amount of Rs.55,597/- (Rs.1,44,000 – Rs.88,403) (Rupees fifty five thousand five hundred and ninety seven only) with 9% interest from 25.10.2012 till realization to the complainant. The opposite party is also directed to pay Rs.1000/- (Rupees one thousand only) toward costs of this proceedings to the complainant. No further amount towards compensation is allowed. The order shall be complied within one month from the date of receipt of this order.
Dictated to the Confidential Assistant transcribed by her corrected by me and pronounced in open Forum on this the 14th day of February, 2014. Sd/- Smt.Elizabeth George (President) :
Sd/- Sri. Antony Xavier (Member) :
Sd/- Smt.Jasmine.D. (Member) :
Appendix:-
Evidence of the complainant:-
Ext.A1 - First premium receipt
Ext.A2 - Renewal premium receipt dated 19.10.2008
Ext.A3 - Renewal premium receipt dated 19.10.2009
Ext.A4 - Copy of the letter dated 30.10.2012
Ext.A5 - Copy of the payment advice
Ext.A6 - Power of attorney
Evidence of the opposite party:- Nil
// True Copy // By Order
Senior Superintendent
To
Complainant/Opposite party/S.F.
Typed by:- pr/-
Compared by:-
