DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION: BHADRAK
Dated the 1st day of March, 2021
C.D Case No. 130 of 2020
1. Shri Basanta Kumar Mallick, Presiding Member
2. Afsara Begum, Member
Mr. Kshetra Mohan Nayak, aged about 46 years,
S/o. :- Darshani Nayak,
At/P.O. :- Mohantipada, Via :- B.T.Pur,
P.S. :- Agarapara, Dist. :- Bhadrak. …… Complainant
-: V e r s u s :-
1.) The Branch Manager,
Bajaj Allianz Life Insurance Co. Ltd., Above S.P. Electronics,
Chhapulia By-Pass, Bhadrak :- 756100
2.) Bajaj Allianz Life Insurance Co. Ltd..
GE Plaza, 5th Floor, B-Wing, Airport Road, Yerawada, Pune,
Maharashtra :- 411006 ……. Opp. Parties.
Advocate for complainant : Sri Debasis Nayak & Associats
Advocate for Opposite Parties: Sri Ramachandra Panigrahi & Associates.
Date of Hearing : 22.02.2021
Date of Order : 01.03.2021
BASANTA KUMAR MALLICK, PRESIDING MEMBER
This dispute arises out of a complaint filed by the complainant alleging deficiency of service and unfair trade practice against the O.Ps.
The facts of the case as narrated in the complaint are to the effect that on the lucrative, assertion & benefit described by the agent of O.Ps the complainant has purchased a policy bearing Policy No. 0349687571, dtd. 20.09.2018 from O.Ps. At the time of purchase of policy the agent of O.Ps requested to invest the on yearly basis premium and whenever the complainant wants or required he could withdraw the said amount as deposited in any bank. It was also described that O.Ps-(Insurance company) has given extra benefit to the investor on the shape of life cover with fix assured sum. On lucrative statement/ assertion he purchased the policy and deposited his hard earned money of Rs. 1,84,000/- ( Rupees One lakh Eighty Four Thousand) in 2 (Two) yearly premium. Due to worldwide pandemic i.e. Covid 19 the complainant’s earning source collapsed and financial condition affected very much and now he is not in a position to pay premium for the year, 2020 and to maintain his self and his family. Therefore he needs to withdraw the amount deposited with O.P’s Insurance company as the complainant’s and his family are at the verge of starvation . For that complainant approached O.P. No. 1 to withdraw the same but the concerned person sitting in the office after verifying policy document given a letter and informed that an amount of Rs. 86,175.76 Paisa (Rupees Eighty Six thousand one hundred Seventy five and Seventy six paisa) is only payable to complainant. Hearing his version and on the letter, he got shocked & surprised that in lieu of the amount i.e. Rs. 1,84,000/- ( Rupees One lakh Eighty Four Thousand) deposited by him an amount of Rs. 86,175.76 Paisa (Rupees Eighty Six thousand one hundred Seventy five and Seventy six paisa) only will be paid to the complainant which is highly unjust, improper, illegal & arbitrary. Thereafter he on 03.12.2020 in compelling circumstances served a legal notice to O.Ps Insurance company and requested them to pay whole deposited amount of Rs. Rs.1,84,000/- with interest as assured & represented by the agent of the insurance company within 7 (Seven) days from the date of receiving of legal notice but the O.Ps neither prefer to reply the said legal notice nor disbursed the deposited amount of Rs. 1,84,000/- ( Rupees One lakh Eighty Four Thousand) with interest. With these allegations the Complainant has preferred the instant complaint seeking directions to the O.Ps Insurance company to disbursh the deposited amount of Rs. 1,84,000/- with 9 % interest from 10.12.2020 till the date of actual payment in his favour and also to pay a sum of Rs. 2,00,000/- to complainant towards damage for mental agony & harassment and also Rs. 20,000/- as litigation cost.
On being noticed the O.Ps submitted their written objection refuting the claim of the Complainant on their written version that the Policy No. 0349687571 was availed by complainant solely based on the documents, information, statements and disclosures made through proposal Form duly filled and signed by the policy Holder. Accordingly the company has furnished the policy bond to the complainant and the said policy bond all the terms and conditions along with benefits and policy maturity value and lumpsum as receivable has been categorically stated in the policy schedule and also an opt-out-option/Free Look cancellation period had been given to him in the first 15 days of receipt of the policy bond, that in the event the complainant/proposer was not satisfied with the policy then he can cancel the policy within the first 15 days and get his full amount refunded to him after some minor deductions which he paid for the said policy as premium but the complainant had not availed this opportunity or waived the same at his own will. As per clause-6 of the policy it is clearly stated that if the complainant/policy holder pays premium for at least 2 years in policy with less than 10 years premium paying term the said policy will immediately & automatically, converted to a paid-up policy at the expiry of the grace period further Clause-8 dealing with Surrender Benefit clearly specifies the Surrender Value Calculation of a paid-up policy. Thus, any alleged promises or vague allegations which are not the part of the express terms and conditions of the policy document received by the complainant are neither binding on the opposite party nor enforceable at law as per the provisions of the Indian Contract Act, 1872. With these pleas the O.Ps concluded their version seeking dismissal of the complaint with cost.
We gone through the pleadings of the complainant, written objection filed by the O.Ps . Heard. In course of hearing & perusal of materials available on record observed as detailed below.
Undisputedly the Complainant opted for Bajaj Allianz Life Income Assure-Income Policy bearing No. 034968757 for an assured of sum of Rs. 4,32,000/- for a period of 5 years having it’s date of commencement i.e. 20.09.18 and date of Maturity is 19.09.2035 .The premium amount was so fixed @ Rs. 92828/- per annum for 5 years and benefit term is for 17 years. It is also admitted that the complainant has already paid previous two premium regularly without fail and the third premium for the year 2020 could not be paid due to financial break down caused out of COVID – 19. It is further submitted that the complainant is a private school teacher whose financial condition is affected due to prevailing lockdown situation arising out of worldwide pandemic i.e. Covid 19 and he and his family are at the verge of starvation as such he is not in a position to pay next premium for the year, 2020 . To maintain himself and his family he needs to withdraw the amount deposited with O.P’s Insurance company. In such a situation when his income highly affected due to lock down out of worldwide pandemic covid-19 and when he needed more support, sympathy and boost up the opposite party , O.Ps deducted the hard earned money of the complainant on the ground of the clauses mentioned in the policy bond of the opposite party.
We also perused the written objection filed by the opposite party. O.Ps objected on the ground that the complaint had entered in to an insurance agreement after understanding all the terms & conditioned mentioned in the proposal form and putting his signature. Hence he is bound by the terms & conditions of the said proposal form as well as bond paper in which everything is mentioned. Further they have declared in the agreement that complainant has every right to cancel the same within first 15 days from the receipt of the policy bond if he is not satisfied.
Learned counsel for the complainant refuting the above assertion of the written objection and submitted that the complainant is a simple man maintain his family from his lowest salary as a private school teacher. Default in payment and to withdraw the deposited amount was beyond of his plan and programme in the Unavoidable situation of Covid -19 which compelled him to take such decision . Under humanitarian point of view and unexpected situation, when the entire financial activities is at stake, the 15 days option so allowed to the policy holder should have been extended so as to enable the complainant to withdraw the deposited amount at the acute financial crisis during pandemic situation. It is also admitted by the O.Ps that the complainant is at liberty to withdraw the deposit amount at the time of need after completion of two years from the date of commencement of the policy. In this situation , the objection raised by the opposite parties in the written objections are not tenable and complaint is entitled to get back his hard earned money deposited with the O.Ps .
Again We can deal with this issue, from another angle also. If the contention raised is not accepted, it will go against the basic spirit of 2019 Act. The said Act (2019) is enacted to protect poor consumers against might of the service providers/multinational companies/traders. As in the present case, the complainant has spent his entire life savings to get a benefit , to have a roof over his head. It should be protected.
In view of the analysis made as above and taking the evidences available on record into consideration, we do not have any hesitations to come to a conclusion that the instant complaint bears merit and need to be allowed .
Accordingly ordered;
ORDER
In the result, the complaint be and same is partly allowed against the O.Ps . O.Ps are directed to refund the deposited amount of Rs. 1,84,000/- of the complainant without fail within 30 days of receipt of this order, failing which the above will carry 6.5% interest P.A. till the date of payment . No order as to cost & compensation.
This order is pronounced in the open Forum on this day of 1st March, 2021 under my hand and seal of the commission.
