Orissa

Rayagada

CC/96/2018

V. Eswarmma - Complainant(s)

Versus

Max Life Insurance Company Ltd., - Opp.Party(s)

13 Dec 2018

ORDER

DISTRICT   CONSUMER  DISPUTES REDRESSAL    FORUM, RAYAGADA,

STATE:  ODISHA.

C.C. Case  No.  96/ 2018.                                              Date.     21   .     1  . 2019

P R E S E N T .

Dr. Aswini  Kumar Mohapatra,                       President.

Sri  GadadharaSahu,                                             Member.

Smt. Padmalaya  Mishra,                                     Member.

 

            Smt. V.Eswarmma, W/O: V.Sambamurty, @ V.Sambayya, At: J.K.pur,              Dist:Rayagada,  765 017  (Odisha)                                           …. Complainant.

            Versus.

            1.The     Manager, Max life insurance Company Ltd.,  Saheed Nagar, Bhubaneswar, Dist: Khurda, State:Odisha.

            2. Sri Sada Siva Tripathy, Manager, Axis Bank, Rayagada.                .…..Opp.Parties

Counsel for the parties:                         

For the complainant: - Sri P. Rama Krishna, Advocate, Rayagada

For the O.P No.1:- Sri  Chinmoy Patra, and associates

For the O.P. No.2:- Sri K.Ch.G.S.Kumandan, Advocate, Rayagada.

JUDGEMENT

The  curx of the case is that  the above named complainant alleging deficiency in service  against  afore mentioned O.Ps    for  non payment of  maturity amount towards policy No.884177478   for which  the complainant  sought for redressal of the grievances raised by the complainant. 

Upon  Notice, the O.Ps  put in their appearance and filed written version through their learned counsels  in which  they refuting allegation made against them.  The O.Ps  taking one and another pleas in the written version   sought to dismiss the complaint as it is not maintainable  under the C.P. Act, 1986. The facts which are not specifically admitted may be treated  as denial of the O.P.  Hence the O.Ps prays the forum to dismiss the case against  them  to meet the ends of justice.

Heard arguments from the O.Ps   and from the complainant.    Perused the record, documents, written version  filed by the parties. 

This forum  examined the entire material on record  and given  a thoughtful consideration  to the  arguments  advanced  before us by  the  parties touching the points both on the facts  as well as on  law.

                                                                        FINDINGS.

On perusal of the record we observed  it is not disputed  that the complainant was a policy  holder  bearing policy No. 884177478.  The complainant  had availed  a  policy  having sum assured value of Rs.2,89,225/- and policy  name  is “MAX LIFE GAIN PLUS 20 YEARS – 6 YEARLY   PREMIUM PAYMENT. The first premium of Rs.50,000/- was paid  on 26.6.2013  by the complainant  and subsequent   premium amount was fixed at Rs. 48,313.94  which was payable till 6(six) years annually including the first premium as paid. The premium paying mode was annual as per option selection done by the complainant  in the proposal form dtd. 28.6.2013. (copies of the proposal form and policy bond is annexed  in the file which is marked as Annexure-I & II). Further there is no dispute that the complainant had paid 5 years annual premium and failed to pay  the last premiums as per terms of the policy.

The main grievance  of the complainant is that  she was  invested  the above amounts  to get  back Rs.5,000/-, Rs. 10,000/-, Rs. 15,000/- up to   Rs. 25,000/-   as pension.  But as the complainant did not get the financial  benefits  as  promised she   had wrote a letter to the O.P. during December, 2017.  When the O.P.  did not given  satisfied  reply the complainant  has filed C.C. case  before the forum to refund the deposited amount  with interest.  Hence this C.C. case.

The O.P. No.1 in their written version contended that the complainant had instead of paying the full premium for continuous 6 years as per the contract terms and conditions  of the policy  which is sine quo non for enforcement of the policy contract had only paid 5(five) years premiums  and failed to pay the last premium as per terms.  Hence the complainant policy was automatically converted   in to reduced paid up mode for non  payment of premiums as  on default as per the terms of the contract for the policy was having maturity  date as 26^th. June, 2033. The O.P. No. 1 as showing of  as a mark of good gesture from their side and are willing to settle the claim of the  complainant by making  an open offer to return the total premium  amount as received till date that is  Rs.2,47,690.17 and is ready to cancel  the  policy if the complainant accepts the same than the learned forum  may make a settlement of this accordingly   and dismissed  this  present complaint which will  save the efficacious time of the forum and of the parties itself and  will end the litigation in a quick and convenient way and will be remain undisputed either by way of appeal or any  other provisions of law applicable to the same.

This forum completely agreed  with the views taken in the written version  by the O.Ps and the complainant is  entitled the deposited amount  only due to discontinuation of the above policy.

Hence to meet the ends of justice the following order is passed.

                                                            ORDER.

The  complaint  petition  stands allowed  in part  against the  O.P. No.1(Insurance company) and  dismissed against the O.P. No.2( Axis bank)  on contest.

The O.P. No.1( Max life Insurance) is directed to pay Rs.2,47,690.17  to the complainant. Parties are left to bear their own cost.

The above order is to be complied within   30 days  from the date of receipt of this order. Service the copies of the order to the parties free of cost.

Dictated and corrected  by me.

 Pronounced in the open Forum today on this     21^st.      .day  of , January., 2019 .

 

Member                               Member.                                                   President