*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-**-*-*-*-**-**-*-*-*-**-*-**-
Advocate Vaishali Dumbre for the Complainant
Advocate Sanjay Mhalgi for the Opponent
*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-**-*-*-*-**-**-*-*-*-**-*-**-
Per Hon’ble Shri. V. P. Utpat, President
:- JUDGMENT :-
Date – 31st December 2013
This complaint is filed by senior citizen against Insurance Company for deficiency in service u/s 12 of the Consumer Protection Act, 1986. Brief facts are as follows-
[1] Complainant is resident of Hadapsar, Pune. Opponent is the Insurance Company having its branch at Shivajinagar, Pune 411 005. Complainant had obtained insurance policy no.950216797 under plan of Assurance 2-28 by investing amount of Rs.50,000/- as sum assured. The due date of the said policy was 28 half yearly and mode of payment –installment was fixed Rs.304/-. Policy was issued on 28/09/1992 by the Opponent. Complainant had paid the premium regularly. Complainant was in need of money for medical treatment hence she showed eagerness to get maturity amount early instead of waiting up to the age of his 80 years. Then the plan of assurance whole life (Table 2) was converted into whole life limited payment (Table 5) for the term of 18 years. Consequently half yearly premiums from 28/09/1992 to 28/09/2010 were of Rs.1456/- paid by the complainant and the date of maturity was 28/09/2010. It is the case of complainant that the endorsement was made by officer of the Insurance Company accordingly. Complainant has asked the amount of maturity but the Opponent is not making payment of maturity amount. Hence, complainant has filed this complaint for getting the policy maturity amount together with interest @ 18% p.a. from the date of maturity i.e from 28/10/2010 till its realization as well as compensation of Rs.75,000/- and cost of litigation.
[2] Opponent resisted the claim by filing written version in which it is admitted that the complainant had obtained policy from the Opponent. But it is denied that whole life policy was converted into term policy. It is the case of Opponent that both plans i.e. Table 2 and Table 5 are whole life planes but the premium for table 5 was for the limited period. Complainant had chosen that plan in order to reduce his liability to pay the premium till his death. According to the Opponent the date of maturity 28/09/2010 is wrongly mentioned because the date of maturity cannot be mentioned in the policy of whole life. Opponent has also contended that the complainant is entitled for the policy amount after completing 80 years of the age or her heirs are entitled to receive the amount on his death which occurs earlier. Opponent has prayed for dismissal of the complaint.
[3] After considering the pleadings of both parties, scrutinizing the documentary evidence which is produced on record on behalf of both the parties, written argument and hearing the argument of both counsel, following points arise for our determination. The points, findings and reasons thereon are as follows-
Sr.No. | POINTS | FINDINGS |
1 | Whether complainant has proved that the policy which was obtained under Table 2 is converted into term policy ? | In the negative |
2 | Whether complainant is entitled to receive the amount before attaining age of 80 years ? | In the negative |
3 | Whether Opponent has caused any deficiency in service ? | In the negative |
4 | What order ? | Complaint is dismissed |
Reasons
As to the Point Nos. 1 to 4-
[4] The undisputed facts in the present proceeding are that the complainant has obtained Insurance Policy from the Opponent on 28/09/1992 under Table 2 - 28 half yearly. As per the terms and conditions of that policy the complainant had to pay premium of Rs.304/- of 28 half yearly. It is the case of complainant that the said plan was changed under Table 5. Hence numbers of premiums were reduced. Complainant had deposited difference of three half yearly premium along with interest i.e. Rs.780/-. It is the case of complainant that she had paid all the premiums and the date of maturity is 28/3/2010. The learned Advocate for the complainant argued before the Forum that as the date of maturity has been shown as 28/9/2010, complainant is entitled for the policy amount i.e. Rs.50,000/- along with bonus.
[5] According to the learned Advocate for the Opponent, the policies under Table 2 and Table 5, both are life time policies. The numbers of premiums under Table 2 were 28 half yearly. However, for Table 5 numbers of premium are less. But the maturity of both policies is the same i.e. after attaining the age of 80 years or causing of death which occurs earlier. According to the learned Advocate for the Opponent, the endorsement had shown date of maturity as 28/09/2010 due to mistake. Generally in term policies, the date of maturity comes after six months from the date of last premium. Eventhough there is endorsement made by the officer of the Insurance Company, that can be ignored as the nature of policy i.e. life time policy cannot be changed by making such endorsement. If the complainant wants to convert her policy from whole life into term policy, then there are other options. Complainant had not chosen those options. In such circumstances, it should be held that there is no deficiency in service on the part of the Opponent and Opponent has rightly observed that the complainant is entitled for the policy amount after attaining age of 80 years or causing death which occurs earlier.
In the light of above observations, this Forum gives findings accordingly, and pass the following order-
:- ORDER :-
1. Complaint is dismissed.
2. As per peculiar circumstances there is no order as to costs.
3. Both parties are directed to collect the sets which are provided for the Hon’ble Members within one month from the date of order. Else those will be destroyed.
Copy of order be supplied to both the parties free of cost.
Place – Pune
Date – 31/12/2013
