IN THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, MURSHIDABAD AT BERHAMPORE.

Case no. CC/86/2015

Date of filing: 06-07-2015                                                                                  Date of disposal: 02 -02-2018

Complainant  - Shri Swapan Kumar Chakraborty, 24/30/9, Joychand Road, Khagra, PO – Khagra, PS – Berhampore,  District – Murshidabad, Pin Code – 742103, W Bengal.   

VS.

Opposite Party –  Senior Branch Manager, Life Insurance Corpn. of India, Chak Islampur Branch, PO + PS – Islampore, District – Murshidabad, Pin Code – 742304, West Bengal.

                                 Present :  Sri Manas Kumar Mukherjee- Member

                                                   Smt. Chandrima Chakraborty – Member / President – in -Charge

FINAL ORDER

 Sri Manas Kumar Mukherjee, Presiding  Member

This case has been filed by the complainant U/S 12 of C P Act’1986, praying for payment of an amount, as mentioned in the original Policy Bond (Jeevan Suraksha) and a compensation of Rs. 50,000/- for mental pain and agony, faced.

The case of the complainant, in brief, is that, the complainant, purchased a Life Insurance policy, under pension plan, named ‘Jeevan Suraksha’, from Chak Islampur Branch of the OP, being Code no. 426, policy no. being – JS421447555, Table & Term : ‘122-18’, on 19. 08. 1997, supported by 1^st premium receipt duly signed and stamped by the OP.

That the complainant, completed the deferment period of 18 years and paid, yearly premium of Rs. 2,325/-, throughout the prescribed period, as mentioned in the policy / contract.

That, as per discharge voucher forms, consisting of 4 pages and as per option ‘F’, the OP informed the complainant, that his monthly annuity would be, Rs. 1,082/- only, per month and Rs. 13,775/- only, per annum, thereby, denying the earlier assurance, made by the OP, in the policy, handed over to the complainant, at the time of commencement of the policy, in question, which is a legal contract, binding upon the parties.

As stated by the petitioner, the monthly annuity, would have been Rs. 3,197/- and the amount receivable, per year, would be Rs. 38,364/- only, the date of commencement of annuity payment, being, 28. 03. 2015.

The petitioner applied to the Sr. Branch Manager, LICI, Chak Islampur Branch, for necessary amendment of the payment schedule, through his letter dated 09. 02. 2015, but the office of the OP denied to amend the payment schedule, stating that the earlier information / commitment, made to the petitioner, was an ‘’ typographical error’’, vide their letter dated 03. 03. 2015.

Subsequently, the petitioner, approached the Sr. Divisional Manager, of the OP,  stationed at its’ Grievance Cell, at Salt Lake, Kolkata, but in vain.

Again, the petitioner applied to Secretary, Murshidabad District Consumers’ Association, vide his application dated 09. 02. 2015. The Secretary, forwarded the application to the OP, but no action was initiated by the OP, even after, receipt of the communication.

Hence, the instant complaint has been lodged before this Forum.

The W/V filed by the OP, stated that that the complainant is not maintainable in its present form, along with, some other observations.

The OP further stated that, at the time of issuing the policy, the complainant, did not take any option, for mode of payment. As per option ’D’, the OP, issued the policy bond. The complainant, while submitting the discharge voucher / form, had chosen option, ‘F’, which indicates, ‘’annuity of life with return of purchase price on death’’.

The OP further stated that as the complainant, opted for option ‘F’, the OP had paid, annuity to the complainant and there had been no deficiency in service, on their part.

All of the parties have recorded their presence, in the matter, when the matter was referred to this Forum, for adjudication and submitted documents, in support of their submission (s). Complainant and OP, argued the matter.

The complainant affirmed that he had made payment of all installments, throughout the tenure and is eligible to get the relief, as assured by the OP, at the time of commencement of the policy. He further stated that the payment of annuity should have been commenced from 3/ 2015.

The OP, on the other hand, stated, that as the complainant, opted for option ‘F’, at the time of submission of discharge form, they had made the payment , as per provisions of that option.

The complainant filed the Calculation sheet, to the Forum, subsequently.

Point  to be considered

1. Whether the complainant is entitled to get relief, as prayed for.
2.  

Decisions with reasons

To prove the case, the complainant, has filed copies of relevant documents, along with evidence – in –chief, in support of his complaint. The OP has also filed W/V, in support of their statements.

Heard, complainant and OP, in full.

It is observed, that as per principles of natural justice, it is obligatory, on the part of the Insurance Company, to fulfill its assurances and commitments, when the policy, attains its’ maturity stage as the policy holder, takes adequate pain and care to pay the premiums, throughout the tenure. The Policy bond is also a contract, which is binding on the parties to the contract.

Hence,

ORDERED

The Consumer Complaint no. 86/2015, is allowed in part.

The OP is hereby directed / ordered to release payment of monthly annuity @ Rs. 3197/-, with effect from date of payment of 1^st annuity, i.e., 28. 03. 2015, to the complainant, within 30 days, from the date of receipt of this order. The OP is further directed to pay the entire amount payable to the complainant, for the period, on and from 28. 03. 2015 to 31. 12. 2017, which has fallen due, @ Rs. 3197/- per month,to the complainant, within 30 days, from the date of receipt of this order and to commence, payment of monthly annuity, thereafter. The OP is further directed to pay, another amount of Rs. 5000/-, towards, harassment, faced by the complainant, along with litigation cost, within 30 days, from the date of receipt of this order, in default, the OP, will have to pay an amount of Rs. 50/-, per day’s delay and the amount, so accumulated, shall be deposited to Consumer legal Aid account.

Let a copy of this order be made available and be supplied free of cost to each of the parties, on contest, by hand, under proper acknowledgement / be sent, forthwith, under ordinary post, to the concerned parties, as per rules, for information and necessary action.

( MEMBER )(MEMBER)