Orissa

Cuttak

CC/71/2015

Smt Chhandarani Sahoo - Complainant(s)

Versus

Branch Manager,Bharati AXA Life Insurance Co Ltd - Opp.Party(s)

R K Pattanaik

26 Oct 2016

ORDER

IN THE COURT OF THE DIST. CONSUMER DISPUTES REDRESSAL FORUM,CUTTACK.

C.C No.71/2015

 

Smt. Chhhandarani Sahoo,

W/o:Ashok Kumar Sahoo,

c/o: Brajasundar Sahoo,OAS(Retd.),

At:Machuabazar,P.O:Buxi Bazar,

Dist:Cuttack-1..                                                            … Complainant.

 

Vrs.

Branch Manager,

Bharati AXA Life Insurance Co. Ltd.,

At:Madhupatna(Near Link Road Junction),

P.O/P.S:Madhupatna,Cuttack10.                               … Opp. Party.

 

Present:               Sri Dhruba Charan Barik,President.

Sri Bichitrananda Tripathy, Member.

Smt. Sarmistha Nath, Member(W).

 

Date of filing:   22.07.2015

Date of Order:  26.10.2016

 

For the complainant :    Sri R.K.Pattnaik,Advocate & Associates.

For the O.P.                 :   Sri K.C.Mishra,Adv. & Associates.

 

Smt. Sarmistha Nath,Member(W).

 

                The complainant has lodged this complaint before this Forum against the O.P alleging therein deficiency in service and unfair trade practice adopted by the O.P.

1. The case of the complainant in brief is that the complainant took a life insurance policy from O.P by depositing the premium sum of Rs.30,000/- and the O.P issued a policy vide Annexure-2 with certain terms and conditions.
2. That, after submission of the duly filled in proposal form and on payment of the requisite premium the O.P issued a policy bearing No.501025927288 in the name of the complainant.  The policy bond which has been issued in favour of complainant vide Annexure-2.
3. The complainant after going through the terms and conditions found that those are not suitable to her.  Immediately the complainant wrote to the O.P on 26.12.2014 to cancel the policy and refund the deposited premium amount.  But as the O.P did not refund the premium amount, the complainant sent a pleader’s notice through his advocate vide Annexure-4 but the O.P remained silent even after receiving the notice.
4. Finding no other way the complainant has taken shelter of this Hon’ble Forum.  He has prayed for refund of premium amounting to Rs.30,000/- along with interest, compensation for mental agony Rs.50,000/- and cost of litigation of Rs.10,000/-.
5.   The O.P though entered appearance but did not file any written version and was set exparte and did not participate in the hearing.
6. We have heard the learned counsel for the complainant and gone through the case record, the policy stipulated that “if the policy holder disagrees with any of the terms and conditions of the policy, then there is an option to return the original policy along with a letter stating reasons for the objection within 15 days of receipt of the policy.”  The policy will accordingly be cancelled and the policy holder will be refunded an amount equal to the premium paid subject to a deduction of a proportionate risk premium for the period on cover, the expenses incurred by the company on medical examination and stamp duty charges.
7. The complainant has received the Policy
   Bond on 23.12.2014 and intimated the O.P,Insurance Company on 26.12.2014 to cancel the same since the terms and conditions of the policy were not suitable to her.  Thus she has intimated the O.P to cancel the policy within the free look period of 15 days.
8. The O.P has failed to return the premium though in the mean time the O.P has illegally detained the premium amount for 7 months without any justifiable reason.  It is held that there was deficiency in service on the part of the O.P. and he has also found to have adopted unfair trade practice.

 

          ORDER

The O.P. is directed to refund the premium amount of Rs.30,000/-, along with interest @ 12% w.e.f 18.11.2014 i.e. from the date of deposit of the premium till the date of final payment.  The O.P. will also pay a sum of Rs.2,000/- towards cost of litigation to the complainant within 45 days from the date of receipt of copy of this order.

Typed to dictation, corrected and pronounced by the Hon’ble Member in the Open Court on this the 26^th  day of October, 2016 under the seal and signature of this Forum.

 

                                     ( Smt. Sarmistha Nath )

                                            Member(W)                                                                                                                                                                                                                                                                                                                                                              (Sri D.C.Barik)

                                                                                                                                    President.

                                                                                                                             (Sri B.N.Tripathy )

                                                                                                                                  Member