JUDGMENT

1. The present complaint has been filed by the complainant before this commission for  the following reliefs-

1. The Op be directed to pay the outstanding amount of the claim rs.926807/ with interest at the rate 18% per annum.
2. The Op be directed to pay the amount Rs.5000/ incurred by the complainant.
3. The Op be directed to pay litigation expenses Rs.20000/
4. The Op be directed to pay Compensation for harassment Rs.100000/

2. Complainant has stated that the complainant obtained the insurance policy no. 560262580 on 28.9.1996 at Rs.500000/ on the assurance of the agent for getting the amount Rs.2000000/ on maturity. On maturity of the policy an amount of Rs. 1031250/ was transferred to the account of complainant on 28.9.2021. Which is less than the amount Rs.20000000/. As per calculation, the total amount to be paid comes to Rs.25*500*75=937500+ loyality addition 500*1100=550000 total Rs.1987500/whereas the amount of Rs. 1031250/ was paid and the balance remains Rs.956250/. The op is liable to pay the same. The last premium Rs.29443/ could not be paid and therefore the assured sum Rs. 470557/ against one installment Rs.29443/ should have been made less. The calculation of guaranteed bonus was made on the basis of 15 multiplier instead of 25 is also wrong.
3. Op has stated in the WS that the complainant had obtained policy no. 560262580 at Rs.500000/ on 28.9.1996. The payment of premium was annual and the policy premium was to be paid in the month of September every year and the last date of payment was 28.9.2011 which was clearly written on the policy bond. It is provided in the policy bond that the policy shall be subject to the terms and conditions as mentioned on the policy and it is provided in the policy that a guaranteed addition of Rs.75/ per thousand sum assured will be added to the policy at the end of each policy year and will be payable when the sum assured becomes payable if the policy remains in full force. Complainant had not paid one installment in the month of September, 2011 and the policy was not in full force. The payment of Rs. 1031250 was made as per policy condition. Complainant had paid premium for 15 years and the calculation was made accordingly. The policy was not in full force and therefore loyality addition was not paid as per terms and conditions of the policy.  
4.  Complainant has filed his affidavit and papers in support of his pleadings. Op also filed their affidavit and papers in support of their pleadings
5. We have perused the material available on record and heard the complainant’s counsel.
6. The first question of consideration before us is whether the OP is entitled for relief claim?
7. Admittedly, Complainant has paid only 15 installments of the premium out of total 16 installments. As per calculation made by the OP in WS it reveals that the price paid was calculated as assured sum into premiums paid /total premiums i.e. 500000*15/16 =468750. So far as the amount of guaranteed addition is concerned, it was calculated as premiums paid into 75 per thousand i.e. 15*75*5000000/1000=562500/. Thus the total amout Rs.468750/+Rs.562500/= Rs.1031250/ was paid. It appears from policy bond that the complainant had to pay 16 premiums in 15 years and maturity period was 25 years. It shows that the premium amount paid by the complainant  was enjoyed by the op for 25 years and  the op was under obligation to pay the maturity amount after 25 years. The complainant was paid maturity amount in the year 2021 after maturity period 25 years. OP has multiplied the amount of premium by 15 instead of 25 years. Accordingly calculation of price paid is made 500000*25/16=781250/and the calculation of guaranteed addition is made as 25*75*50000/10000=937500/, the total amount comes to Rs.1718750/. OP has paid only Rs.1031250/ and thus balance comes to Rs. 1718750 minus the amount Rs.1031250 already paid = Rs687500/.Op has stated the reason for payment of the amount Rs.1031250/ under the terms and conditions of the policy bond whereas complainant has deposed that he was assured by the agent to get the benefit of maturity and he had signed the papers on assurance of the agent  who was in a position to dominate the will of the complainant and was under undue influence of the agent. The Complainant can not be said to sign the papers consciously. Under these circumstances, the complainant is not bound by the terms and conditions of the policy bond as alleged by the op and the principal of equity and natural justice would prevail. Accordingly complainant is entitled for Rs.687500/ with pendente lite and future interest at the rate 18% per annum.          
8. Question is formulated in favour of complainant.
9.  We hereby direct the Op to pay the complainant the amount Rs. Rs.687500/ with pendente lite and future interest at the rate  18% per annum.   Op shall also pay to the complainant Rs. 100000/as compensation for harassment with litigation expenses Rs.20000.
10. Op shall comply with the direction within a month failing which OPs shall be prosecuted for non-compliance in accordance with section 72 of the Act for awarding punishment against him.
11. A copy of this judgment be provided to all the parties as per rule as mandated by Consumer Protection Act, 2019. The judgment be uploaded as per rule on the website of the commission for the perusal of the parties.
12. File be consigned to record room along with a copy of this judgment.