Delhi

East Delhi

CC/632/2015

JAI RAM MISHRA - Complainant(s)

Versus

EXIDE LIFE INS - Opp.Party(s)

30 Nov 2015

ORDER

Sh. Jai Ram  Mishra Vs.Exide Life Insurance Company Ltd.

30/11/2015

Affidavit of Sh. Jai Ram Mishra filed, still none is appearing from the side of the respondent.

Heard.  

In the present complaint it is alleged that the complainant had filled the proposal form for a policy named Creating Life (CER) Creating Life Child Protection Plan but when he received a premium receipt and a policy schedule, the policy conditions attached thereto were of  Creating Life - Child Protection Plan and not of Creating Life (CER), the policy opted by him . The Bank Manager concerned admitted that conditions had wrongly been attached. They were deducting Rs.15,000/- as premium from his bank account. The business of the respondent was taken over by ING Vyasa Insurance Company and they informed him that he will get only Rs.5,00,000/- at the end of 15 years. The business has been transferred to some other insurance company i.e. Exide Life Insurance. He has no faith and the complainant requested for the refund of the entire premium paid with interest.

Despite service upon the respondent no written statement has been filed. Case proceeded exparte.

The complainant has filed the affidavit in evidence apart from the documents filed alongwith the complaint showing the policy conditions and the premium paid.

The contentions of the complainant are uncontroverted on record and it is reiterated as statement on oath that there had not been intimation to any policy holder for opting to continue with the new organization to which the business has been delivered. It is a deficiency on the part of the respondent. It is the wish of the complainant to continue with the policy.

We allow this complaint. The respondent is directed to refund to the complainant sum of Rs.60,000/- together with 9% interest thereon from the date of the deposit till it is paid. We further award compensation of Rs. 15,000/- on account of harassment, mental pain, and agony which shall also include the cost of litigation.