This is a complaint filed by one Heramba Lal Das, 28/1, Rani Park, P.O. & P.S. – Belgharia, Kolkata-700 056 against (1) M/s. HDFC Standard Life Insurance Co. Ltd., having its branch at HDFCSL, Gariahat branch, 1st floor, 26A, Hindusthan Park, Gariahat Shopping Mall, Gariahat, Kolkata-700 029, OP No.1, (2) RDB Insurance Broking Services Pvt. Ltd., 60A, Chowringhee Road, Kolkata-700 029, OP No.2 and (3) HDFC Standard Life Insurance Co. Ltd., 11th floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai-400 011, OP No.3, praying for a direction upon the HDFC Standard Life Insurance Co. Ltd to pay Rs.48,500/- with interest of 10.50% from the date of realization of one time premium and payment of Rs.5,000/- as conveyance and correspondence expenses and compensation of Rs.2,00,000/- for physical and mental harassment.
Facts in brief are that Complainant Heramba Lal Das aged about 74 years was proposed by one lady employee/agent for taking an insurance policy. He expressed his unwillingness due to his old age on which the said lady requested him to make a fixed deposit in the company for two years which will carry interest @ 10.50% p.a. He agreed to the proposal. So, the lady employee sent two executives to the Complainant and a proposal form for making fixed deposit. Complainant filled up the form and handed over the same to one of the executives with a cheque of Rs.48,500/-. Complainant nominated his son Tanmoy Das in the proposal form for the said investment and handed over a copy of Pan Card of Tanmoy Das to the executive.
After encashment of the cheque he received a policy document bearing policy No.16261602 which was issued on 1.9.2013 in the name of Tanmoy Das with a scanned proposal form wherein Tanmoy Das was seen a policy holder and he was named as nominee.
On receipt of the policy document Complainant returned the same to the Standard Life Insurance Co. and made objection which was received by HDFC Standard Life Insurance Co. on 17.9.2013 long before the expiry of the stipulated period of 30 days for cancellation in the free look period.
Thereafter, Complainant received a letter dt.12.11.2013 from Customer Relations Department, wherein he was informed that his complaint has been received and a reply will be given to him within 14 days. Finally, OP No.3 wrote a letter on 19.5.2014 to Tanmoy Das stating that “We have not received your cancellation request within 30 days free look cancellation period” and so the policy cannot be cancelled. After receipt of the said letter Complainant again went to HDFC Standard Life Insurance Co. and made complaint. But, nothing was done. So, Complainant filed this case.
OP filed written version and denied the allegation of the complaint. Further, they have contented that the request for cancellation was not received within the stipulated period and so the Company did not cancel the policy and refund the money. They have specifically denied all the allegations of the complaint and prayed for dismissal of the complaint.
Decision with reasons
Complainant filed affidavit-in-chief wherein he has reiterated the facts mentioned in the complaint. Complainant has also filed additional evidence. OP No.1 & 2 have filed evidence on affidavit wherein they have alleged the facts mentioned in their written version. Complainant has filed questionnaire against the evidence of the OP. OP No.1 & 3 have filed reply to the questionnaire.
Main point for determination is whether the Complainant is entitled to the reliefs as prayed in the complaint petition.
In this regard, the allegation is that the Insurance policy was made on the basis of misrepresentation. This complaint has been filed by Heramba Lal Das. However, on perusal of Annexure A, it appears that the letter has been addressed to Mr. Tanmoy Das by the authorized signatory of the Insurance Co.
Further, it appears that Heramba Lal Das and Tanmoy Das have signed on the letter which have been sent for requests for cancellation of Policy No.16261602 and the Annexure B is a letter was sent to the Company on 12.9.2013 that is after three days of receipt of the policy. Postal receipt has also been filed to corroborate the issuance of letter. Again on 12.11.2013 HDFC Standard Life Insurance Co. replied to Complainant and informed that on the basis of his letter the complaint has been registered and they will reply within 14 days. Again in May 19, 2014 Tanmoy Das was informed that the request for cancellation was not received within the stipulated period and so the policy cannot be cancelled. However, on perusal of the annexures, it appears that the request of the Complainant and his son was immediately made. But OP delayed it.
In the circumstances, we are of the view that this is a fit case where OPs be directed to cancel the policy and refund the money of the Complainant which he paid for policy of his son Tanmoy Das.
So far as other reliefs are concerned, we are of the view that there is no material to substantiate that Complainant is entitled to get compensation of Rs.2,00,000/-.
Hence,
ordered
CC/238/2016 and the same is allowed in part. OPs are directed to cancel the policy and refund of Rs.48,500/- to the Complainant within two months of this order, in default, the amount shall carry interest of 10% p.a.
