DATE OF DISPOSAL: 23.02.2021.
Dr. Aswini Kumar Mohapatra,President:
The complainant had filed this complaint petition alleging deficiency in service against the O.Ps regarding less payment of insurance amount.
2. The complaint case is summarized hereunder:
The complainant was persuaded by the agent of the O.P.No.1 for insuring under policy scheme Mahalife Gold and accordingly the complainant insured with the said scheme in Policy No.C250247383, policy date 11.08.2006 with face amount of Rs.1,05,000/- having policy term 71 years and expiry date being 11.08.2077. The complainant is entitled to receive Rs.6510/- towards non-guaranteed annual cash benefit, till ten years to nineteen years during the benefit period and from 20 years above Rs.9765/-. Apart from payment of Rs.6510/-, the O.P. is also liable to pay Rs. 5250/- guaranteed cash benefit. Hence the total cash benefit is Rs.6510/-+ Rs.5250/- i.e. totaling to Rs.11,760/-. Against such less payments, the complainant made correspondences to the O.Ps on 05.12.2016. On receipt of the letter dated 05.12.2016 communicated to its response on 15.12.2016 stating that the non-guaranteed cash dividends are based on the performance of the Company and dividend rates is declared every year and calculated on the basic sum assured. Alleging deficiency in service on the part of the O.Ps the complainant prayed to direct the O.Ps for payment of balance payment of Rs.3045/- for the year 2016 and Rs.2625/- for the year 2017, for payment of Rs.9765/- plus Rs.5250/- totaling to Rs.15,015/- towards non-guaranteed and guaranteed cash benefits under the policy No. 250247383 till the policy is in force and the cost of litigation of Rs.7500/- in the interest of justice.
3. Upon notice the Ld. Counsel for the O.P. appeared and filed written version ground stated therein to dismiss the case. while the case was in the process of hearing and argument amidst during the course of hearing both the parties were present and filed hazira accompanied with a joint compromise memo stating therein that the complainant is agreed to settle the insurance claim if the O.P. shall pay an amount of Rs.15,000/- towards full and final satisfaction of the claim and the O.Ps also accepted the proposal and agreed to pay such amount to the complainant to settle the dispute with an order to that effect from the Commission. Both the complainant as well as O.Ps are agreed to abide to the above terms and conditions and signed on the memo of compromise on mutual consent to file this joint compromise petition. Heard both the parties. Perused the memo. Considering the facts and circumstances of the case the complainant’s memo is allowed.
Resultantly the O.Ps are directed to pay an amount of Rs.15,000/- to the complainant and further the complainant is directed to cooperate the O.Ps with adherence to the terms and condition of the compromise memo. The above order shall comply by the O.Ps within one month from receipt of this order.
The order is pronounced on this day of 23rd February 2021 under the signature and seal of this Forum. The office is directed to supply copy of order to the parties free of cost and a copy of same be sent to the server of
