ORDER BY HON’BLE MEMBER- MRS. M. SWAIN:
JUDGMENT
Complainant has filed this consumer complaint U/s.12 of C.P. Act, 1986 seeking following reliefs;
“Direct the opposite parties No.1 & 2 to collect the draft amount from the O.P. No.3 towards the renewal premium for the year 2016 and also direct to accept the future premium from the complainant without any interest and regularize the policy with all sorts of facilities”.
Brief fact of the case is that, the complainant purchased a life insurance policy named as HDFC Classic Assure Plus policy bearing No.16583740 on 21.01.2014 from opposite party No.2 by the instigation of opposite party No.1. The sum assured of the policy is Rs.12,08,249/- and death benefit of policy is Rs.29,10.010/- and yearly premium of the policy is Rs.19,101/- and the policy term is 10 years and the premium paying period is 07 years and date of maturity of the policy is on 21.01.2024. Complainant paid first premium on 02.01.2014 and second premium on 24.3.2015 and then in the year 2016 opposite party No.1 HDFC Bank did not accept the premium and advised to make a demand draft and deposit, so on 29.3.2016 complainant made the draft before United bank of India i.e. opposite party No.3 in favour of HDFC Bank i.e. opposite party No.1 vide D.D. No.178477 for Rs.29,101/- and deposited the said DD before the opposite party No.1. In the year 2017 when complainant went to the HDFC Bank i.e. opposite party No.1 to deposit the premium they did not accept the premium and said that he has not deposit the previous year premium i.e. 2016. The complainant inquired from the United Bank of India opposite party No.3 that the draft amount is still lying with them and was not collected by opposite party No.1. The complainant deposited the DD, the opposite party No.2 did not take any care to collect the said amount for which policy became discontinued, hence this complaint.
Complainant filed following documents in support of the consumer complaint;
- Policy Bond
- Money receipt – 3 sheets
Notice was issued to opposite parties on 11.01.2018. Opposite party No.3 United Bank of India neither appear before this Commission nor submit any written version, so opposite party No.3 is set ex-parte vide order No.8 dtd.25.4.2018.
Opposite party No.1 HDFC Bank stated that, the complainant approached to opposite party in 2016 to pay the 3rd premium amount, but the opposite party refused to accept premium amount and directed the complainant to submit draft in the name of HDFC Bank Ltd. The complainant got the demand draft prepared from his existing bank and did not deposit the said DD with the opposite party branch for collection. Further, the complainant also did not have any receipt of the said DD being accepted by the opposite party Bank and the deposition of DD at the branch.
Opposite party No.2 HDFC Standard Life Insurance Company Ltd. stated in its written version is that a life insurance company guided by IRDA and the products/policies which are floated in the market for the benefit of the general public. Further opposite party No.2 submitted that the figure which are mentioned in the complain petition regarding the annual premium and the sum assured are deliberately and intentionally wrong as mentioned by the complainant as in para-2, the complainant mentioned that the annual premium is fixed at Rs.19,701/- but as per policy bond the annual premium is fixed at Rs.29,101/- the sum assured is fixed at Rs.1,28,249/- but the complainant has mentioned in his petition that the sum assured amount is Rs.12,08,249/- likewise the minimum death benefit is Rs.2,91,010/- but the complainant has mentioned that death benefit is Rs.29,10.010/- which shows malafide intention of the complainant. Further opposite party No.2 submitted that as the opposite party No.2 is an insurance company regulated by IRDA as per the guidelines no policy can be revived after 02 years of lapses due to nonpayment of premium and the complainant has never made any application to the opposite party No.2 for revival of the lapsed policy.
It is a fact that complainant purchased HDFC Life Classic Assurance Policy from opposite party No.1 & 2 on payment of Rs.30,000/- as first premium on 21.01.2014 and also paid second premium in the year 2015. But in the year 2016 complainant purchased the Demand Draft from United Bank of India and submitted with opposite party No.1 as premium but the complainant was not submitted any receipt regarding submission of DD to opposite party No.1 and also opposite party No.3 United Bank of India has not submit any report regarding DD rather became ex-parte on 25.4.2018.
So we have not felt any deficiency of service on the part of opposite parties and as per IRDA guideline the policy cannot be revived after 02 years of lapsed due to nonpayment of premium. Hence the consumer complaint is dismissed without any cost.
Pronounced in the open Commission on this 07th July,2023.
