Punjab

Sangrur

CC/144/2015

Harvinder Kaur - Complainant(s)

Versus

HDFC Standard Life Ins.Co. Ltd. - Opp.Party(s)

Shri D.S. Nandpuri

19 Aug 2015

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, SANGRUR.

 

                                                               

                                                Complaint No.    144

                                                Instituted on:      16.03.2015

                                                Decided on:       19.08.2015

 

 

Harvinder Kaur wife of Dev Raj, resident of VPO Himtana, Tehsil Malerkotla, District Sangrur.

                                                        …Complainant

                                Versus

1.             HDFC Standard Life Insurance Company Ltd. Branch Office, Nabha Gate, Near Sanatan Dharam Mandir, Sangrur through Branch manager.

2.             HDFC Standard Life Insurance Company Ltd. Ramon House, HT Parik Marg, 169, Backway Reclamation Church Gate, Mumbai 400 020 through its Managing Director.

                                                        …Opposite parties

 

For the complainant    :               Shri DPS Nandpuri, Adv.

For OPs                    :               Shri Sumir Fatta, Adv.

 

 

Quorum:    Sukhpal Singh Gill, President

                K.C.Sharma, Member

                Sarita Garg, Member

 

 

Order by : Sukhpal Singh Gill, President.

 

1.             Smt. Harvinder Kaur, complainant (referred to as complainant in short) has preferred the present complaint against the opposite parties (referred to as OPs in short) on the ground that the complainant availed the services of the OPs by getting a policy bearing number 000000334265 under HDFC Personal Pension Plan Regular Premium policy by depositing the first premium amount on 10.03.2004 to the tune of Rs.10,000/- and the policy period was 10 years, as such, complainant is said to be a consumer of the OPs.  It is further averred that the complainant had deposited the premium of Rs.10,000/- on annual basis for 10 years upto 18.3.2013. It is further averred that at the time of issuing the policy the complainant was told that on maturity of the policy, the OPs shall pay Rs.1,00,000/- plus vested bonus of Rs.60,000/- and as such after maturity the complainant approached the OPs for payment of Rs.1,60,000/-, but the OPs put off the matter on one pretext or the other and failed to pay to the complainant the requisite amount of Rs.1,60,000/- along with interest and further claimed compensation and litigation expenses.

 

2.             In reply, preliminary objections are taken up on the grounds that the complaint is not maintainable and that the complainant has not come to the Forum with clean hands.  On merits it is stated that a letter dated 21.11.2013 along with annuity kit was despatched to the complainant at her mailing address clearly informing the complainant that her policy will mature on 9.3.2014 and an amount of Rs.1,39,158/- is payable. However, it is denied that at the time of issuing the policy the complainant was told by the agent of the OPs that after 10 years complainant will be paid Rs.1,00,000/- plus vested bonus amounting to Rs.60,000/- for 10 years.  It is stated further that despite despatching of annuity kit on 21.11.2013 to the complainant, she failed to reply to the letter sent by the OPs regarding annuity options and thereafter the Ops sent letters dated 11.4.2014, 5.5.2014, 5.6.2014, 7.7.2014, 8.8.2014, 12.9.2014, 15.2.2015, 14.3.2015, 1.5.2015 etc. It is stated further that the complainant did not reply even a single letter.  As such, any deficiency in service on the part of the OPs has been denied.  

 

3.             The learned counsel for the complainant has produced Ex.C-1 to Ex.C-12 the copies of receipts and Ex.C-13 affidavit of the complainant and closed evidence. On the other hand, the learned counsel for OPs has produced Ex.OP/1 copy of policy, Ex.OP/2 copy of first premium receipt, Ex.OP/3 copy of proposal form, Ex.OP-4 to Ex.OP-16 copies of letters, Ex.OP-17 affidavit of Amit Kumar and closed evidence.

 

4.             We have carefully perused the complaint, version of the opposite parties and heard the arguments of the learned counsel for the parties. In our opinion, the complaint merits acceptance, for these reasons.

 

5.             In the present case, it is admitted fact of the OPs that the complainant availed the services of the OPs by getting a policy bearing number 000000334265 under HDFC Personal Pension Plan Regular Premium Policy by depositing the first premium of Rs.10,000/- on 10.3.2004 and the term of the policy was 10 years, a copy of the policy on record is Ex.OP/1. Ex.OP/2 is the copy of first premium receipt which clearly shows that the complainant deposited Rs.10,000/- on 10.03.2004.  However, in the present case the grievance of the complainant is that despite maturity of the policy, the Ops have failed to pay the amount of Rs.1,60,000/- which was due on 9.3.2014 i.e. Rs.1,00,000/- on account of policy plus Rs.60,000/- on account of bonus.  On the other hand, the stand of the OPs is that the complainant was sent the annuity kit on 21.11.2013 informing her that the policy in question will mature on 9.3.2014 and an amount of Rs.1,39,158/- is payable and further offered a new immediate annuity plan.   Further case of the Ops is that they sent so many letters to the complainant, which are on record as Ex.OP-4 to Ex.OP-16 regarding non receipt of annuity option form. A bare perusal of Ex.OP/5 a letter dated 14.3.2015 clearly reveals that the vesting proceedings amounting to Rs.1,39,158/- were due on 9.3.2014 as the policy of the complainant was matured on 9.3.2014.  But, the Ops have not produced any postal receipt showing the despatch of the above said letters to the complainant or any receipt of the letters issued by the complainant.  Under these circumstances, we feel that these letters Ex.Op-4 to Ex.OP-16 are not at all helpful to the case of the OPs.  Moreover, it is the duty of the OPs to pay the maturity amount of the policy to the tune of Rs.1,39,158/- on 9.3.2014 by way of demand draft.  It is worth mentioning here that the complainant has not produced on record even a single document or any policy condition entitling her to get a bonus amount of Rs.60,000/- from the OPs. As such, we find that the ends of justice would be met if the OPs are held liable to pay to the complainant an amount of Rs.1,39,158/-.

6.             Further another contention of the OPs that the complainant was entitled for long retirement income ‘annuity for life’ also carries no force.  In this respect, it is worth mentioning here that the Ops have not produced on record any evidence to show that the complainant ever adopted their ‘annuity options’ as detailed in the reply.  Further the Ops have failed to established on record that how much pension of the complainant was fixed and whether the same was ever paid to the complainant, since the policy of the complainant in question has already matured on 9.3.2014 with the maturity value of the Rs.1,39,158/-.  In these circumstances, it is clear that the Ops were only interested to retain the maturity value of the policy i.e. Rs.1,39,158/- with them even without getting the option/approval of the complainant to invest her money in the ‘annuity for life’ plan of the OPs.

 

7              In view of our above discussion and circumstances of the case, we find it to be a case of deficiency in service on the part of the Ops and accordingly, we allow the complaint and direct the Ops to pay to the complainant an amount of Rs.1,39,158/- along with interest @ 9% per annum from 9.3.2014 (maturity date of the policy) till its realisation in full.  Ops are further directed to pay to the complainant an amount of Rs.20,000/- on account of compensation for mental tension, agony and harassment and Rs.5000/- on account of litigation expenses.  

 

8              This order of ours be complied with within a period of thirty days of its communication. A copy of this order be issued to the parties free of cost. File be consigned to records.

                Pronounced.

                August 19, 2015.

                                                (Sukhpal Singh Gill)

                                                     President

                               

 

                                                   (K.C.Sharma)

                                                        Member

 

 

                                                    (Sarita Garg)

                                                       Member