DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, PATIALA.
Consumer Complaint No. 437 of 24/11/2017
Decided on: 21/11/2018
Jatinder Singh R/o 4145/3 Ravindra Niwas, Preet Street, Ragho Majra, Patiala, Punjab-147001.
… Complainant
Versus
ICICI Prudential Life Insurance Company Ltd. ICICI Prulife Towers, 1089, Appasaheb Maratha Marg, Prabhadevi, Mumbai-400025
….Opposite party
Complaint under Section 12 of the
Consumer Protection Act, 1986.
QUORUM
Smt. Neelam Gupta, Member
Sh. Kanwaljeet Singh, Member
ARGUED BY:
Sh. Jatinder Singh complainant in person.
Sh. Pankaj Verma Adv. Counsel for the OP.
ORDER
KANWALJEET SINGH, MEMBER
1. Brief facts of the case are that the complainant bought a money back policy of ICICI Prudential Life Insurance Company bearing No.00219179 and the OP assured the complainant that he will receive cash back of 50 % of the sum assured with guaranteed additions and vested bonuses on completion of policy term of 15 years. Complainant received a bonus letter by Email dt.27/05/2014 amounting to Rs.3190.42P for the year 2013-14 and another bonus of Rs.3624.67P for the year 2014-15 and third one is bonus letter dt.13/7/2016 of Rs.3343.76P for the year 2015-16 and last bonus letter Email dt.31/3/2017 for Rs.3039.11P for the year 2016-17. The complainant received information from the Customer Care of the OP that maturity amount of Rs.1,39,994.67 as final payment has been transferred to the registered saving account of the complainant. On 26/10/2017 complainant sent a letter to the OP that there is difference of Rs.15000/- in the actual amount. Complainant received an Email from the OP on 06/11/2017 that total maturity amount payable on 25/10/2017 stands Rs.1,39,995/-, so no additional amount is payable. Complainant met the Sr. Level at the grievance redressal unit as well as at IRDA by sending an email with copies of bonus letters. On 20/11/2017 complainant received an email stating that OPs have gone through the concerned highlighted issue but still denied the claim of the complainant. The complainant prayed that relief be granted to the complainant as demanded therein i.e. payment of Rs.15000/- along with interest plus mental harassment.
2. On notice OP appeared and filed power of attorney and written version. In the preliminary objections, OP mentioned that the allegations of the complaint which are contrary to or in consistent with what is averred therein and denied. This forum has no jurisdiction to entertain the present complaint as investment made under Unit Linked policy. The complaint is false, frivolous, vexatious and abuse of the process of law and therefore same is liable to be dismissed. OP company after receipt of the proposal form, benefit illustrations and supporting documents age proof, address proof etc. issued the policy to the complainant. Policy was issued strictly as per the duly filled in and signed application form received by the OP company. The complainant was also received the welcome kit and did not raise any dispute during the entire procedure. The complainant has failed to show any deficiency in service or negligence on the part of replying respondents. OP had sent the policy documents stating the particular terms and conditions along with proposal form to the communication address of the complainant and the same were duly received by the complainant. Complainant did not approached to the OP for cancellation of the policy during the free look period. Therefore, he agreed to all the terms and conditions of the policy. The complainant received a plan of ICICI Pru cash Back for a period of 15 years and sum assured was Rs. One Lac and modal premium is Rs.4779/-. The premium was required to pay on yearly mode. OP states that policy got matured on 25/10/2017 and maturity amount of the policy i.e Rs.1,39,994.67P was directly credited in the bank account of the complainant on 26/10/2017. The OP paid the maturity amount as per the policy terms and conditions to the complainant and no error was committed by the OP. Complainant has not placed on record any single piece of evidence in support of his contention. Complainant has cooked up a false story to mislead this Forum. The OP has no where induced in any unfair trade practice and prayed that complaint is baseless and same may kindly be dismissed with exemplary cost.
3. Complainant tendered in evidence Ex.CA his sworn affidavit along with documents Ex.C-1 copy of ICICI Pru Cashback policy bearing No.00219179, Ex.C-2 copy of bonus letter (email) sent by ICICI Prulife for the year 2014, Ex.C-3 copy of bonus letter (email) sent by ICICI Prulife for the year 2015, Ex.C-4 copy of bonus letter (email) sent by ICICI Prulife for the year 2016, Ex.C-5 copy of bonus letter (email) sent by ICICI Prulife for the year 2017, Ex.C-6 copy of complaint letter dt. ICICI Prudential, Ex.C-7 copy of response from ICICI Prudential, Ex.C-8 copy of complaint letter to Sr. Level Grievance redressal unit of ICICI Prudential, Ex.C-9 copy of final assessment by ICICI Grievance redressal unit of ICICI Prudential, Ex.C-10 copy of proposal form filed at Patiala Punjab, Ex.C-11 copy of policy document, Ex.C-12 copy of Email by ICICI Prudential dt. 7/3/2018 and closed the evidence.
4. Ld. Counsel for the OP has tendered Ex.OPA affidavit of Ms. Monica Giri, Asstt. Manager of OP along with documents Ex.OP-1 copy of proposal form, Ex.OP-2 copy of policy terms and conditions, Ex.OP-3 copy of policy certificate and closed the evidence of the OP.
5. We have heard the complainant and ld. counsel for the opposite party and have also gone through the record of the case, carefully.
6. During arguments the contentions of the parties are similar to their respective pleadings so no need to reiterate the same. Further it is admitted by both the parties that the complainant had received a bonus of Rs.3190.42P for the year 2013-14, Rs.3624.67P for the year 2014-15, Rs.3343.76P for year 2015-16 and Rs.3039.11P for the year 2016-17 in total bonus of Rs.13,197.96P and another maturity amount of Rs.1,39,994.67P credited on 26/10/2017 in the bank account of the complainant.
7. Now the major controversy is that whether the complainant is entitled of Rs.15,000/- as difference amount of policy in dispute. It reveals from Ex.C-2 to Ex.C-6 complainant had received a sum of Rs.1,53,192.63P along with bonus amount from the OP. It seems from Ex.C-5 is the utmost important document to trace out the truth. It is clear cut mentioned the total benefit value as on May 2017 CD + (F) of Rs.1,54,994.67P. So as per mathematically calculation Rs.1,54,994.67P minus Rs.1,53,192.63P is Rs.1802.04P not Rs.15,000/-.
8. Resultantly, we partly allow the complaint and direct the OP to pay a sum of Rs.1802/- along with 9% interest from 26/10/2017 till the realization. Further OP is directed to pay a sum of Rs.3000/- as mental harassment. The entire compliance shall be made by OP within 30 days from the receipt of the certified copy of this order. The certified copies of this order be sent to the parties free of cost under the rules. Thereafter, file be indexed and consigned to the record room.
Announced Dated: 21/11/2018
Kanwaljeet Singh Neelam Gupta Member Member
