Order No.  9  dt.  03/03/2020

          Case of the complainant in brief is that the complainant obtained an insurance policy being Policy No.03440237 dated 22/11/2016 by paying Rs.72,632/- as premium to the O.P. – Insurance Company. It is stated in the petition of complaint that being attracted by the lucrative offer of     “one time payment” of the policy premium by the agent of the o.p. the complainant agreed to obtain the policy and deposited the premium amount of Rs.72,632/- to the agent to get the policy certificate to that effect. It is further stated that after receiving the policy certificate the complainant was surprised to see the premium amount paid by him for the “one time payment” mode for the policy was issued as a recurring premium deposit for the terms of 19 years under the annual payment mode. Thereafter, the complainant requested  the o.p. to cancel the said policy of him as it was not possible for him to continue the policy for 19 years and also requested the o.p. to return back the deposited amount of Rs.72,631/- by the letters dated 07/02/2017 and 27/01/2018. It is also stated that in spite of receiving the said letter the o.p. did nothing to that effect till date for which the complainant was compelled to file this instant case praying for direction upon the o.p. to refund the deposited premium amount of Rs.72,632/- to the complainant along with compensation of Rs.1,00,000/- and litigation cost of Rs.50,000/-.

          Notice was served upon the o.p. and o.p. appeared in this case but failed to file w/v within the time limit of 45 days. As such, the case was fixed for ex parte against the o.p. vide order no.6 dated 03/01/2020.

          On perusal of the documents on record which were filed by the complainant it appears that the complainant obtained an insurance policy by depositing Rs.72,632/- towards the premium of the policy being no.03440237 and the o.p. – Insurance company issued a policy certificate in favour of the complainant under the annual premium mode on 22/11/2016. It further appears from the letter dated 23/11/2016  sent by the o.p. that in case the complainant was not satisfied with the terms and conditions of the policy he had an option to cancel the policy within 15 days from the date of receipt of the policy. It also appears from the letter dated 07/12/2017 that the complainant intimate d the o.p. to cancel his policy after the lapse of one year from the commencement of the policy where the cancellation period was within 15 days from the date of receipt of the policy.

          Under such circumstances stated hereinabove, we are of opinion that the complainant has to file some cogent evidence to prove that he has obtained the policy under “one time payment” of premium and he should cancel the policy within free look period.  As such we hold that the complainant fail to substantiate the allegation made against the o.p. by him.

          In the result the complaint case does not succeed.

          Hence, it is

                             Ordered

         that the CC/327/2019 is hereby dismissed.