Order No.  8  dt.  22/05/2017

       The case of the complainant in brief is that the complainant had taken a life insurance policy being policy on 19/03/2017 no.17568345 from o.p. 1 to 3 through their agent o.p. no.4. The o.p. no.4 at the time of presentation of the policy form told the complainant that the said policy is one time paid premium life policy and the complainant would not require to pay further till the period of maturity. On the basis of the said assurance the complainant opted for having the policy from o.p. nos.1 to 3. On 5.4.15 while the complainant received the policy certificate from o.p. nos.1 to 3 and astonished to find that the said life policy premium was per year Rs.48,501/- and the policy premium terms for 5 years. The complainant after receiving the said policy expressed his option for cancellation of the policy by writing a letter to o.ps. on 7.9.15. Whenever o.p. nos.1 to 3 did not take any step regarding the prayer made by the complainant for cancellation of the policy the complainant sent a lawyer’s notice. In spite of receiving the letter o.ps. did not take any step for refund of the money by cancelling the said policy. On the basis of the said fact the complainant filed this case praying for cancellation of the said policy and refund of the premium amount of Rs.48,501/- and compensation of Rs.35,000/- and litigation cost of Rs.10,000/-.

            In spite of receipt of notices the o.ps. did not contest this case by filing w/v and as such, the case has proceeded ex parte against the o.ps.

            The complainant adduced evidence stating inter alia that as per the request of the agent of o.p. nos.1 to 3 the complainant obtained the policy and at the time of obtaining the policy he was informed that one time premium is to be paid but subsequently whenever received the policy he found that each year the premium is to be paid for 5 years. After getting the said policy the complainant wanted to cancel the policy but since no action was taken by o.ps. the complainant filed this case.

            On perusal of the materials on record it is found that the complainant has claimed that fraud was practiced upon him by the agent. But the complainant being an educated person ought to have gone through the form for obtaining the policy and after perusal of the terms and conditions of the policy he applied for the same. Even if for the sake of argument if it is presumed that he had no option to go through the terms and conditions of the policy but the policy was sent to the complainant on 6.4.15 and in the forwarding letter along with the policy it was specifically stated that the complainant had the opportunity to cancel the policy within the free look period i.e. within 15 days from the date of receipt of the policy. But the complainant failed to cancel the said policy within the free look period and the step taken by him praying for cancellation of the policy long after the free look period i.e. on 7.9.15. The complainant made representation to o.p. nos.1 to 3 and they gave reply to the representation made by the complainant. The complainant in order to get the benefit u/s 80C of Income Tax Act paid the policy premium and took the advantage of non-payment of the income tax as per the benefit he enjoyed u/s 80C of Income Tax Act and after availing of the benefit the complainant falsely made allegation against o.p. no.4 by stating that he practiced fraud upon him and filed this case only on the ground that he was not informed that the premium is to be paid for 5 years of Rs.48,501/- per annum. Since the complainant did not come with clean hands and there is no cogent ground whatsoever against the o.ps. particularly when the complainant had the option for cancellation of the policy within the free look period and he has not availed of the same, therefore the prayer of the complainant cannot be allowed by cancelling the policy as urged by ld. lawyer for the complainant. In view of the facts and circumstances as stated above we hold that the complainant will not be entitled to get any relief as prayed for.

            Hence, ordered,

            That the CC No.208/2016 is dismissed ex parte without cost against the o.ps.

            Supply certified copy of this order to the parties free of cost.