Kerala

StateCommission

A/15/953

AVIVA LIFE INSURANCE CO LTD - Complainant(s)

Versus

M P RAFEEQUE - Opp.Party(s)

SAJI ISSAC

29 Aug 2016

ORDER

KERALA STATE CONSUMER DISPUTES REDRESSAL

COMMISSION  VAZHUTHACAUD, THIRUVANANTHAPURAM

APPEAL NO. 953/15

JUDGMENT DATED:29.08.2016

PRESENT : 

JUSTICE SHRI. P.Q. BARKATHALI                         :  PRESIDENT

SHRI. V.V. JOSE                                                         : MEMBER

Aviva Life Insurance Company Ltd.,

2^nd  floor, Centre Point,

M.G. Road, Thrissur.                                             

 

Aviva Life Insurance Company Ltd.,

2^nd  floor, Grand Plaza,                                                      : APPELLANTS

Bank Road, Kannur-1.

 

(By Adv: Sri. Saji Isaac. K.J)

 

            Vs.

 

M.P. Rafeeque, S/o T.K. Makki,

M.P. House, Maniyoor P.O,                                              : RESPONDENT

Chekkikilam, Kannur-670 952.

 

(By Adv: Sri. D.R. Rajesh)

 

JUDGMENT

HON.JUSTICE.P.Q.BARKATHALI : PRESIDENT

 

This is an appeal filed by the opposite parties in CC.279/12 on the file of Consumer Disputes Redressal Forum, Kannur challenging the order of the Forum dated, September 30, 2015 directing the opposite parties to pay to the complainant Rs.2,00,000/- with a cost of Rs.5000/-.

2.      The case of the complainant as testified by him as PW1 and as detailed in the complaint before the Forum in brief is this:-

The complainant availed an Insurance Policy of the opposite parties and had paid 4 instalments on premium of Rs.25,000/- each.  At the time of joining the policy, Manager of the opposite parties made him believe that he need pay only the first instalment and he can  withdraw the policy at any time.  After payment of 4 instalments when the complainant approached the opposite parties they submitted that policy was lapsed and he will get an amount of only Rs.9752/-.  Therefore complainant filed the complaint claiming the amount paid by him to the opposite parties.

 3.     Complainants are M/s Aviva Life Insurance Company Limited.  They in their version contended thus before the Forum. The policy issued to the complainant was of 20 year policy and complainant took the policy after knowing the terms and conditions.  Complainant paid only the first four instalments and thereafter policy lapsed.  Therefore opposite parties are liable only to pay the surrender value of the policy.  Further the complaint is barred by limitation and is not maintainable.

4.      This complaint was jointly tried along with CC.280/12 filed by the wife of the complainant.

5.      The complainant was examined as PW1 and Exts.A1 to A12 were marked on his side. Exts.B1 to B9 were marked on the side of the opposite parties.  On an appreciation of evidence Forum found that there is deficiency of service on the part of the opposite parties and directed them to refund to the complainant Rs.1,00,000/- being the premium amount paid by him.  Opposite parties have now come up in appeal challenging the said order of the Forum.

6.      Heard the counsel for the appellant and respondents. 

7.      On going through the records it is seen that policy issued to the complainant is a unit linked policy.    The National Commission in Ramlal Aggarwalla Vs. Bajaj Allianz Life Insurance Company Limited 2013 (2) CPR 389 (NC) has held that in respect of insurance policies having been taken for investment of premium amount in share market which is for speculative gain complainant does not come within the purview of Consumer Protection Act, 1986.  The same principle applies in this case also.  In this case the policy is a unit linked policy.  Therefore it is commercial in nature and the complainant cannot be considered as a consumer as defined under the act.  That being so, the complaint is not maintainable.

In the result appeal is allowed.  The impugned order of the Forum allowing the complaint is setaside and the complaint is dismissed as not maintainable.  Complainant can approach appropriate Forum to redress his grievance.

 

JUSTICE P.Q. BARKATHALI:  PRESIDENT

 

 

V.V. JOSE : MEMBER

 

VL.