Haryana

StateCommission

A/695/2015

GAJRAJ SINGH YADAV - Complainant(s)

Versus

LIFE INSURANCE CORP. - Opp.Party(s)

MUKESH YADAV

27 Oct 2016

ORDER

 

STATE CONSUMER DISPUTES REDRESSAL COMMISSION,

HARYANA PANCHKULA

                  

                                                First appeal No.695 of 2015

Date of the Institution: 24.08.2015

Date of Decision: 27.10.2016

 

Gajraj Singh Yadav S/o Shri Sardar Singh caste Ahir R/o Village Dhani Gujarwas,Tehsil Narnaul, Distt. Mahendergarh (Haryana).

…..Appellant

Versus

 

1. Life Insurance Corporation of India, through Branch Office Mahendergarh Road, in front of Mini Secretariat, Narnaul, tehsil Narnaul, distt. Mahendergarh.
2. Life Insurance Corporation of India through its Divisional Manager Divisional Office, Rohtak, Tehsil and Distt. Rohtak (Haryana).

…..Respondents

CORAM:    Mr.R.K.Bishnoi, Judicial Member

                    Mrs.Urvashi Agnihotri, Member

 

Present:-    Mr.Mukesh Yadav, Advocate counsel for the appellant.

                   Mr.Satyawan Ahlawat, Advocate counsel for the respondents.

 

O R D E R

R.K.Bishnoi, JUDICIAL MEMBER:

          As per complainant, he obtained LIC policy for insured value of Rs.One lac from the opposite parties (O.Ps.) and premium of Rs.7140/- was paid. He paid Rs.1,71,360/- to O.Ps. on account of insurance premium.  For want of money, he surrendered the policy  with O.P.No.1.   He requested to refund the balance amount of Rs.71360/-, but, O.Ps. paid Rs.38872/- only.  Thus there was deficiency in service on their part.

2.      O.Ps. filed reply controverting his averments and alleged that  surrender value of the policy was paid to him, so he was not entitled to get more amount.  There was no provision of refund of premium amount as per terms and conditions of the policy. Thus there was no deficiency in service on their part.

3.      After hearing both the parties, learned District Consumer Disputes Redressal Forum, Narnaul dismissed the complaint  vide order dated 07.07.2015.

4.      Feeling aggrieved therefrom, complainant has preferred this appeal.

5.      Arguments heard.  File perused.

6.      Learned counsel for the appellant-complainant vehemently argued that insurance company has not paid the balance amount of Rs.32488/-.  As he had already deposited Rs.1,71,360/- as insurance premium, so balance amount be refunded by the opposite parties.

7.      This argument is of no avail. Since the O.Ps. have already paid surrender value of the policy, so he was not entitled to get more amount as per Annexure A-1. The parties are bound by terms and conditions of insurance policy and they cannot go out of the same.  As per surrender value Table No.1-A, the complainant was entitled for surrender value.   Learned District Forum has discussed each point from every angle.  Findings of learned district Forum are well reasoned based on law and facts and impugned order dated 07.07.2015 cannot be disturbed.  Resultantly appeal fails and the same is hereby dismissed.

 

October 27th, 2016     Urvashi Agnihotri                   R.K.Bishnoi,                                                         Member                        Judicial Member                                                 Addl. Bench                  Addl.Bench                 

 

S.K.