Delhi

East Delhi

CC/320/2015

RAJEEV - Complainant(s)

Versus

HDFC LIFE INS - Opp.Party(s)

16 Apr 2018

ORDER

           DISTRICT CONSUMER DISPUTE REDRESSAL FORUM EAST Govt of NCT Delhi

           CONVENIENT SHOPPING CENTRE, 1^st FLOOR, SAINI ENCLAVE, DELHI 110092

                                                                                                   Consumer complaint no.       320/2015

                                                                                                   Date of Institution               06/05/2015

                                                                                                   Order reserved on               16/04/2018                                

                                                                                                   Date of order                        18/04/2018                                                                                     

 

In matter of

Mr Rajeev Kapoor, adult   

S/o  Late Sh Tilak Raj Kapoor

R/o- 374, Sec. C, Albert Square  

Shaheed MS Negi Marg, New Delhi -110001………………..…………….Complainant

                                                                   

                                                                           Vs

1- The HDFC Life Insurance Co. Ltd.

G1 to G90, GF, Plot no. 9,

GE Sagar Plaza, Laxmi Nagar District Centre,

Vikas Marg, Delhi 110092

 

Also at –

13^th Floor, Lodha Excellus

Apollo mills compound, N M Joshi Road

Mahalaxmi , Mumbai 400011….. ………………..……………………………..Opponents

 

Complainant’s Advocate –Mr Ravi Bhardwaj

Opponent’s Advocate-       Mr G L N Murti

 

Quorum                     Sh Sukhdev  Singh     President

                                    Dr P N Tiwari               Member

                                    Mrs Harpreet Kaur    Member   

                                                                                                

Order by Dr P N Tiwari, Member   

 

Brief Facts of the case                                                                                                

 

The complainant working at Loksabha Secretariat took two HDFC Life Super Savings Plan policies from OP vide policy no. 16645540 and policy no 16604476 after paying premium a sum of Rs 56,747/- & Rs 38,801/-respectively. Complainant was not satisfied by the services of OP, so  

 

So gave written letter to police on 17/05 2014 and to OP office on 29/05/2014 and 13/06/2014 (Ex CW1/1, 2 & 3), so received reply from OP on 24/06/2014 stating that complainant did not opt cancellation request within 15 days Free Look Period so his polices could not be cancelled (Ex OPW1/1 & 2). Thereafter complainant filed complaint with Ombudsman and sent legal notice to OP on 05/02/2015 (Ex CW1/4) for cancellation of policies and compensation for harassment. When he did not get any relief, filed this complaint and claimed refund of premium amount Rs 95,548/- with 18% and compensation of Rs 1 Lac and litigation charges Rs 11,000/-.

 

OP submitted written statement and denial to refund the premium as per the law laid down in Gurinder Kaur vs HDFC Standard Life Insurance Co. Ltd. & others in Revision Petition no. 4463/2014,NC stated that if complainant had failed to opt the free look period option, premium could not be refunded.

OP submitted details of two policies which were not stated in the complaint. These were as under—

1-Policy no. 1- 16604476,

Risk commencement date 29/01/2014,

Plan- HDFC Life Super Savings Plan

Premium Amount- Rs 40,000/-, Mode - one time and Total premium paid – One.

Last premium date – 29/01/2028, Policy Tenure – 15 years

Maturity Date – 29/01/2029

Yearly premium due date – 29^th Jan. Annual Premium Amount – Rs 38.801/- 

Status as on date- Lapsed, Date of last unpaid premium – 29/01/2015

Sum assured – Rs 4,87,571/-

Policy delivered /sent to the complainant through First Flight Courier on – 12/02/2014 via AWB no. D90501496185.

 

2- Policy no. 2- 16645540 

Risk commencement date 14/02/2014,

Plan- HDFC Life Super Savings Plan

Premium Amount- Rs 58,500/ Mode - one time and Total premium paid - One.

Maturity Date – 14/02/2029, Last premium date – 29/01/2028, Policy Tenure – 15 years

Yearly premium due date – 14^th Feb.  Annual Premium Amount – Rs 56747/- 

Status as on date- Lapsed, Date of last unpaid premium –14/02/2015

Sum assured – Rs 7,14,248/-

Policy delivered /sent to the complainant through First Flight Courier on – 22/02/2014 via AWB no. D90501430167. 

 

OP stated that the complainant failed to avail the opportunity given under the said policy of Free Look period of 15 days for discontinuing the policy. Also he did not raise any objection in free look period. OP further stated that the detail policy proposal form was filled by the complainant himself and had put his signatures also and it could not be assumed that complainant was a layman and did not understand terms and conditions of the policy. It was also stated that complainant took two policies within a month time for saving purposes as per the title of the policies.  OP annexed all the photocopies of terms and conditions with policy proposal form and copies of the policies with acknowledgement of receiving the policy documents by the complainant (Anne. B & C colly).

OP also submitted the explanation of Free Look Period which stated as soon as letter of cancellation of policies with original documents of policy, OP would refund of premium amount after deduction of proportionate risk premium for the period on cover and expenses incurred on medical examination, if any, and stamp duty. A policy once returned shall not be revived, reinstated or restored at any point of time and a new proposal will have to be made for a new policy.  OP also took reference of Hon Supreme Court case titled Grasim Industries Ltd vs Aggarwal Steel, 2009 (13) SC 374 where it was laid down that “when a person signs a document, there is presumption unless there is proof of force or fraud that he has read the document properly and understood it and then he has affixed his signatures thereon otherwise no signature on a document can ever be accepted.”

As complainant failed to return the policies within the Free Look Period of fifteen days, OP was not liable to refund the premium paid by the complainant and there was no deficiency in the service on the part of OP as laid down in Gurinder Kaur vs HDFC Standard Life Insurance Co. Ltd. RP 4463/2014 NC.  OP had timely informed complainant for not availing the Free Look Period option of 15 days through letter date d06/06/2014 (Anne. D). So, there was no deficiency in the services of OP and so this complaint may be dismissed.  

Complainant submitted his rejoinder and denied all the replies submitted by OP and stated that he was cheated by the employee of OP by giving false promises of future and on the assurance of OP, he took two policies for his saving purposes, but after seeing the details of the policy conditions, he wrote letter for cancellation of polices which was denied by OP. Complainant also submitted evidences on affidavit and reaffirmed that all facts of his complaints were correct and true and were on record.  

 

OP submitted their evidences on affidavit through Mr Ankush Saini, Asso. Manager with OP and  justified the stand opted by OP for non refund of premium amount and both the policies were put under lapsed category as per the IRDA guidelines pertaining to non availing Free Look Option of 15 days for cancellation of policies  as per the terms and conditions of the policy which were on the record. It was admitted that complainant approached much later (in the month of May, 2014) after receiving policy documents which were clear violation of policy conditions.

Arguments were heard from both the party’s counsels in detail. Order was reserved. 

After hearing arguments, scrutinizing all the facts and evidences submitted before us, it is necessary to see the relevance of evidences on record. The evidence pertaining to the policy details including policy proposal form and citations submitted by OP as -

i- “Grasim Industries Ltd and others vs M/s Agarwal Steel, CA 5994/2004(SC) where it was laid down that “when a signs a document, there is a presumption, unless there is proof of force or fraud, that he has read the document properly and understood it and only then he has affixed his signatures thereon, otherwise no signature on a document can ever be accepted.  

ii- In revision petition 4463/2014(NC) Gurender Kaur vs HDFC Standard life Insurance Co. Ltd. and others, it was laid down that if petitioner has failed to exercise the option for cancellation of his policy within free look period of 15 days, it cannot be held that there was any deficiency in service on the part of Insurance Co. in declining to accede to the prayer for foreclosure of the policy. 

Here we have taken merit in this case as both the polices existing till 2028 and 2029, but complainant had failed to avail option of cancellation of two policies as per the terms and conditions of the policies as both the polices were taken within one month and complainant had sufficient time to see all the benefits and cancellation options, but failed to do so, so the citation mentioned supra hold weight and squarely applicable in this case.

OP had also submitted other citations pertaining to Hon. State Commission, Delhi as in FA 902/2014 in The Managing Director, Max Life Insurance Co. Ltd. Vs Chand Kishore Nanda decided on 27/01/2017 and in FA 222/2014 in Suresh Kumar vs SBI Life Insurance Co. Ltd. Decided on 04/05/2017 where it had been clearly laid down that terms and conditions of the policy has to be strictly followed by the parties.

So, we are of the opinion that this complaint has no merit as complainant has failed to prove the deficiency of OP. That being so the complaint deserves dismissal so dismissed without any order to cost.

The order copy be sent to the parties as per the regulation 18 of the Consumer Protection Regulations (in short the CPR) and file be consigned to the Record Room under regulation 20(1) of the CPR.

 

(Dr) P N Tiwari – Member                                                                         Mrs Harpreet Kaur- Member                                            

                                                                         

                                                 Mr Sukhdev Singh - President