Haryana

StateCommission

A/523/2018

SBI LIFE INSURANCE CO.LTD. - Complainant(s)

Versus

SUDERSHNA AND ANOTHER - Opp.Party(s)

RAJNEESH MALHOTRA

06 Aug 2018

ORDER

STATE CONSUMER DISPUTES REDRESSAL COMMISSION, HARYANA, PANCHKULA

                            

                                                First Appeal No.           523 of 2018

                                                Date of Institution:       25.04.2018

                                                Date of Decision:         06.08.2018

 

SBI Life Insurance Company Limited, SCF 13, 1^st Floor, HUDA Commercial Complex, Rohtak, Haryana.

…..Appellant-Opposite Party No.1

 

Versus

 

1.      Smt. Sudershna widow of Pt. Ram Avtar, resident of House No.2074, Housing Board Sector 1, Rohtak-124001, Haryana.

…Respondent-complainant

 

2.      Mr. Virender Singh, Agent Code-99133675, Mob No.94674813336, SBI Life Insurance Company Limited, SCF 13, 1^st Floor, HUDA Commercial Complex. Rohtak-124001, Haryana.

Respondent-Opposite Party No.2

 

 

 

CORAM:             Hon’ble Mr. Justice Nawab Singh, President.

                             Shri Balbir Singh, Judicial Member.

 

 

Present:               Shri Rajneesh Malhotra, Advocate for the appellant

                             Smt. Sudershna-complainant in person

 

O R D E R

 

BALBIR SINGH (JUDICIAL MEMBER)

 

          SBI Life Insurance Company Limited-opposite party No.1 (for short, ‘Insurance Company’) is in appeal against the order dated March 26^th, 2018 passed by District Consumer Disputes Redressal Forum, Rohtak (for short, ‘District Forum’) whereby complaint filed by Smt. Sudershna-complainant was allowed. The Insurance Company was directed to pay Rs.71,464/-, that is, paid up amount, alongwith interest at the rate of 9% per annum from the date of filing of the complaint, that is August 29^th, 2016 till realization to the complainant on account of death of her son Rohit Atri (Person Insured).

2.      It is not in dispute that the person insured purchased SBI Life-Shubh Nivesh policy from the Insurance Company.  The date of commencement of the policy was November 18^th, 2011.  The person insured died on October 24^th, 2014.  As per the written version filed by the Insurance Company, the total premium paid by the person insured was Rs.99,380/-. Though the impugned order has been challenged by the Insurance Company and not by the complainant but factually, the District Forum wrongly calculated the paid up value, that is, Rs.71,464/- whereas paid up value was Rs.99,380/- as has been stated by the Insurance Company in paragraph No.4 of the written version.  The proceedings were also initiated before the Insurance Ombudsman, Chandigarh. The Ombudsman vide proceeding dated January 29^th, 2016 directed the Insurance Company to pay an ex gratia amount without discussing the issue of paid up amount to the Insurance Company.

3.      For the reasons recorded supra, the appeal is dismissed.  However, on the basis of the calculation, the impugned order is modified to the extent that the Insurance Company shall pay Rs.99,380/- alongwith interest awarded by the District Forum from the date of filing of the complaint till realization and Rs.5000/- compensation to the complainant. 

4.      The statutory amount of Rs.25,000/- deposited at the time of filing the appeal be refunded to the complainant against proper receipt and identification, in accordance with the rules.

 

Announced 06.08.2018

(Balbir Singh) Judicial Member

(Nawab Singh) President