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V. Eswarmma filed a consumer case on 13 Dec 2018 against Max Life Insurance Company Ltd., in the Rayagada Consumer Court. The case no is CC/96/2018 and the judgment uploaded on 15 Mar 2019.
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 26th. 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 21st. .day of , January., 2019 .
Member Member. President
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