Chandigarh

DF-I

CC/738/2016

Karnail Singh - Complainant(s)

Versus

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

D.R. Kaith

03 Mar 2017

ORDER

Before the Lok Adalat held in District Consumer Disputes Redressal Forum-I, U.T., Chandigarh
CONSUMER COMPLAINT NO. 738  OF  2016
Karnail Singh Vs HDFC Standard Life Insurance Co. Ltd. & anr.
BEFORE:
S.S.PANESAR, PRESIDENT           SURJEET KAUR, MEMBER           SURESH KUMAR SARDANA, MEMBER           ASHOK RAJ BHANDARI, MEMBER/LOK ADALAT
PRESENT:
Sh.Ankit Gupta, Counsel for Complainant alongwith Sh.Karnail Singh, Complainant in person. Sh.Manu Loona, Counsel for Opposite Parties (OPs) alongwith Sh.Amit Khanna, Deputy Manager Legal & Compliance of OPs.
Dated : 3rd March 2017
ORDER
File taken up in the Lok Adalat. Statement of Sh.Manu Loona, Counsel for OPs alongwith Sh.Amit Khanna, Deputy Manager Legal & Compliance of OPs has been recorded. Statement of Sh.Ankit Gupta, Counsel for Complainant alongwith Sh.Karnail Singh, Complainant in person has also been recorded, in view of which this complaint is dismissed as withdrawn being settled. The parties shall be bound by statements made before the Lok Adalat today and the same shall form a part of this order.       Certified copies of this order be sent to the parties free of cost. The file be consigned.

 

 

Sd/-

[S.S.PANESAR]

PRESIDENT

 

Sd/-

[SURJEET KAUR]

MEMBER

 

Sd/-

[SURESH KUMAR SARDANA]

MEMBER

 

Sd/-

[ASHOK RAJ BHANDARI]

MEMBER/LOK ADALAT

 

Statement of Sh.Manu Loona, Counsel for OPs alongwith Sh.Amit Khanna, Deputy Manager Legal & Compliance of OPs.

Stated that OPs will revive the policy No.13856743 dated 14.08.2010 (Saving Assurance Plan) subject to the condition that the complainant will pay pending premiums amounting to Rs.60,000/- annually till date and the OPs will not charge any penality or interest for the delayed payment of the premiums. At the time of revival of this policy, the complainant will fulfill all terms & conditions as mentioned in the policy including medical check up.

In another policy of the complainant bearing policy No.14591209 (SL Crest Plan) dated 29.09.2011 is already paid and the fund value amounting to Rs.257637.45 already stands paid up to the account of complainant on 17.10.2016. Hence all the liabilities with regard to the policy No.14591209 is fully satisfied and the complainant will not dispute anything in future.

Further, in the policy SL Classic Assure Insurance Plan bearing policy No.1537000 dated 23.10.2012, the said policy is at a paid up stage and the complainant will get the amount Rs.1,64,000/- alongwith the bonus amounting to Rs.26,872/- after the lapsation of lock in period of five years and the complainant will get the payment in the month of November 2017.

Further in policy Pro Growth Super II bearing policy No.15189333 dated 31.12.2012, the policy is in discontinue stage and after the lapsation of five years of lock in period, the complainant will get the amount Rs.1,97,000/- in total in the month of May 2017.

 

 

Statement of Sh.Ankit Gupta, Counsel for Complainant alongwith Sh.Karnail Singh, Complainant in person.

I have heard the statement made by Sh.Manu Loona, Counsel for OPs alongwith Sh.Amit Khanna, Deputy Manager Legal & Compliance of OPs today. I have no objection to the above settlement. I withdraw the present complaint subject to fulfillment of the settlement as stated above.