By: Smt. Mini Mathew, Member
1. Case of the complainant in a capsiculated manner is that the agent of the opposite parties approached the complainant at his house and spoke about their life insurance policy and its benefits. The said agent has promised the complainant that as per their policy condition he has to pay Rs.25000/- per year for the consecutive three years from 3-3-2008 and the complainant may withdraw or surrender the policy at any time after the completion of three years. On believing the words of the agent of the opposite parties complainant took a policy vide No. ELP 18900808. Before taking the policy complainant contacted with the company through telephone and they also told him the same words of the agent. As agreed upon complainant continuously paid his yearly payments for the said three years up to 3-3-2011, the total amount paid by the complainant is Rs.75000/-. Complainant paid the money to the agent of the opposite parties at his residence at Omanoor. After the completion of 3 years complainant requested the opposite parties for getting back the total premium along with offered profits. But the opposite parties rejected his claim and offered Rs.28926 only. After that opposite parties herein had issued a cheque amounting to Rs.28926 dated 11-3-13 to the complainant towards the policy amount. But the cheque was not en cashed by the complainant. After repeated demands the opposite parties are even now not ready to pay the paid up amount of Rs.75000/- with profits to the complainant. Hence this complaint.
2. After receiving notice form this Forum opposite parties appeared and filed their detailed version by denying all the allegations put forward by the complainant.
3. Evidence of the complainant consists of proof affidavit filed by him and Ext. A1 to A7 marked for him. After closing the evidence of the complainant it was posted for the evidence of the opposite parties to 22-4-15. Even though several chances were given to them to adduce their evidence but they did not care to do so. Complainant was heard in detail. Case of the complainant is proved. Hence we allow the complaint.
In the result, we order the opposite parties.
a) to pay Rs.75000/- the complainant with interest @ 10% per annum from 3-3-2008 to till the date of payment,
b) directed the opposite parties to pay Rs.10000/- as compensation to the complainant and
c) pay Rs.5000/- as cost.
The order shall be complied within one month from the date of receipt of copy of this order.
Dated this 29th day of January , 2016
R.K.MADANAVALLY , MEMBER (In-Charge of President)
MINI MATHEW, MEMBER
APPENDIX
Witness examined on the side of the complainant : Nil
Documents marked on the side of the complainant : Ext.A1to A7
Ext.A1 : Premium Deposit Acknowledgment Receipt.
Ext.A2 : Payment Advice
Ext A3 : Renewal Premium Receipt – for 03 March 2010
Ext A4 : First Premium Receipt
Ext A5 : Policy Termination Letter
Ext A6 : Renewal Premium Receipt for 03/March/09
Ext A7 : Premium Payment Notice
Witness examined on the side of the opposite party : Nil
Documents marked on the side of the opposite party : Nil
R.K.MADANAVALLY , MEMBER (In-Charge of President)
MINI MATHEW, MEMBER
