Delhi

New Delhi

CC/974/2014

Nitin Kumar Jain - Complainant(s)

Versus

M/S. Birla Sun Life Insurance Company Ltd. - Opp.Party(s)

29 Aug 2019

ORDER

 

 

CONSUMER DISPUTES REDRESSAL FORUM-VI

(DISTT. NEW DELHI), ‘M’ BLOCK, 1^STFLOOR, VIKAS BHAWAN,

I.P.ESTATE, NEW DELHI-110002.

 

Case No.CC.974/2014                                      Dated:

In the matter of:

In the matter of:

Sh. Nitin Kumar Jain,

          S/o Sh. Anant Kumar Jain,

        R/o F-376, F Block,

       Ganga Vihar, Delhi-94.

…… Complainant

 

Versus

1. Birla Sun Life  Insurance Company Ltd.,

Through its Chairman/General Manager,

One Indiabulls Centre, Tower-1,

Jupiter Mill Compound,

841, Senapati Bapat Marg,

Elphinstone Road,

           Mumbai-400013.

 

2. Birla Sun Life  Insurance Company Ltd., 

          6^th Floor, Aggarwal Corporate Tower,

          Rajendra Place, New Delhi-110008.

 

……. Opposite parties.

 

ARUN KUMAR ARYA, PRESIDENT  

ORDER

The complainant has filed the present complaint against the OPs. The gist of the complaint is  that  complainant purchased two Policies from OP vide  policy numbers 006314991 and 006328516 for a sum of Rs. 85,002.82 & Rs. 65,001.75 respectively,  under Vision Life Income plan. It is alleged that after purchasing the policy, the complainant contacted the OP for housing loan OP clearly refused for granting the same, as such complainant wrote an application within free look period for cancellation of policy. On receipt of cancellation request official of OP Ms. Ishita contacted complainant and asked him not  to cancel the policy and further assured him that loan can be granted on the same. Believing on the version of the official, the complainant again wrote an application for continuation of the policy vide letter dated 18/01/2014. The complainant did not receive any response from the OP regarding the loan despite his continuous request and follow up, as such vide letter dt. 20.1.2014, he requested OP Insurance Co. to refund the premium amount and cancel the policies in question but all in vain.  He then filed the complaint with IRDA as well as reported the matter to Crime Branch, Delhi Police against the agent of the OP regarding the unfair trade practice adopted by the OP, but all in vain, complainant therefore approached this Forum for redressal of his grievance.

2.     Complaint has been contested by OP.  It has filed its written statement, wherein it denied any deficiency in service on its part and stated that the policy terms and conditions specifically provides for a Free Look Period of 15 days, during this period the policy owner is entitled to review the policy terms and conditions and request for a cancellation,  if dissatisfied with the terms and conditions of the policy.  The policy documents were delivered to the complainant vide letter dt. 9.1.14, the complainant requested OP to cancel the policy and refund the premium, whereas vide letter dt. 18.1.14, the complainant requested not to cancel the policies, hence the contract of insurance deemed to be concluded between the parties.  The complainant failed to approach OP-1 for conversion/cancellation for refund of the policy during free-looking period, as such the contract was legally concluded between the parties, therefore, the complainant is not entitled for any relief prayed.

3.     Both the parties have filed their evidences by way of affidavits.

4.     We have heard argument advance at the Bar and have perused the record.

5.     Some facts are not disputed by the parties such as the policy documents, receipt of the policy documents.   It is also admitted by OP that the complainant vide its letter dt. 9,.1.14 requested the OP to cancel the policies in question i.e. within free looking period which was self explanatory through Annexure C-2 placed on record by the complainant.  The complainant on the continuous persuasion again wrote a letter dt. 18.1.14 regarding non-cancellation of the policy to the OP.  The complainant vide letter dt. 29.1.2014 again requested OP to cancel the policy and refund the premium as he was unable to pay the premium amount in question upto 20 years as the loan was not sanctioned/disbursed by the OP under the pretext of which the OP had issued the policies in question. 

6.            Perusal of the letters addressed to the OP by the complainant attached

with the complaint makes it clear that the complainant was never interested

in purchasing and continuing the policies in question.  The OP by giving the

false  assurance of loan induced him to purchase the policies which amount to unfair trade practice on its part.  We, therefore, hold the OP guilty of unfair trade practice  and direct it as under:

i).  Pay to the complainant a sum of Rs.1,50,004.57/- along with interest @  9% p.a. from the date of institution of this complaint i.e.  29.12.2014  till payment.

ii)   Pay to the complainant a sum of Rs.5,000/- as compensation towards harassment, mental agony and pain which will also include the cost of litigation.

 

 

A copy each of this order each be sent to both parties free of cost by post. Orders be also sent to www.confonet.nic.in. File be consigned to record room.

Pronounced in open Forum on 29/08/2019.

 

 

(ARUN KUMAR ARYA)

PRESIDENT

                          (NIPUR CHANDNA)                                           (H M VYAS)

                          MEMBER                                                         MEMBER