BEFORE THE DISTRICT CONSUMER DISPUTES REDRESSAL FORUM AT BANGALORE URBAN

26^th DAY OF JUNE 2015

             PRESENT:- SRI. J.N.HAVANUR              PRESIDENT

                              SMT. M. YASHODHAMMA    MEMBER    

O R D E R

SRI. J.N. HAVANUR, PRESIDENT

This is a complaint filed by the complainant against OP under section 11 & 12 of the Consumer Protection Act, praying to pass an order to direct the OP to pay Rs.1,99,000/- along with interest from the date of complaint till realization at 24% p.a in the interest of justice and equity.

2.      The brief facts of the complaint can be stated as under:

OP has published Unit Linked policy and agent of OP came and approached the complainant to have Unit Linked Policy and initially complainant did not agree for the same.  However the agent of OP came frequently visiting the complainant.  So the complainant accepted to have Unit Linked Policy.  Prior to obtaining the Unit Linked policy the agent of OP had expressed that the complainant has to pay the policy amount only for 3 years and later OP will return the amount i.e., matured policy amount and as such the complainant obtained the policy No.LLG 1200984 dated 07.03.2006 and sum assured amount is Rs.3,40,000/- and regular premium amount of Rs.10,000/-.  Complainant has been depositing the amount towards insurance policy for the past 10 years.  The agent of OP had informed that the complainant is entitled after 3 years towards sum assured amount and as such the complainant has requested the OP to release the sum assured amount of Rs.30,000/- plus interest and fund value.  But however the OP had informed that they will return the amount of Rs.17,000/- by surrendering the policy and in case complainant continues to extend 7-8 years then OP will pay the higher fund value, so the complainant has been regularly paying upto 10 years.  Now the complainant is not interested to continue the policy and complainant had been to OP to return the policy amount which he had paid to the Insurance Company.  Instead of returning the higher fund the OP had advised that they will return the amount of Rs.39,000/- with the policy surrendered.  In all complainant has paid Rs.1,00,000/- from the date of commencement of policy till today and as per the policy the complainant is entitled all the benefits including the interest and fund value.  Instead of paying the amount by closing the policy, OP has been postponing the same by one or other pretext and as such the complainant has no more interest to continue to pay the policy.  The OP has rendered deficiency of service to the complainant and as such OP is liable to pay an amount of Rs.1,99,000/- to the complainant.  Hence complainant has come up with present complaint.   

3.  After service of the notice, OP did not appear and he was called out absent and he has been placed ex-parte and posted the case for filing affidavit of complainant.

4.  So as to prove the case, the complainant has filed his affidavit by way of evidence and produced documents along with complaint and also documents along with application dated 10.04.2014.

5. Sri.E.Venkatesh, who being complainant has stated in his affidavit that the agent of OP had come and approached him to have Unit Linked Policy and initially he did not agree for the same.  However the agent had been frequently visiting him he had to accept to have Unit Linked Policy.  Prior to obtaining the policy the agent of OP expressed that he has to pay the policy amount only for 3 years and later OP will return the amount i.e., matured policy amount so he has obtained the policy No.LLG 1200984 dated 07.03.2006 and sum assured amount is Rs.3,40,000/- and regular premium amount is of Rs.10,000/-.  He has been depositing the amount towards insurance policy since 10 years.  The agent of OP has informed that he is entitled for 3 years towards sum assured amount and as such he had requested the OP to return the sum assured amount of Rs.30,000/- plus interest and fund value but OP has informed that they will return the amount of Rs.17,000/- by surrendering the policy and in case he continues to extend 7-8 years then OP will pay the higher fund value and as such he had been regularly paying upto 10 years.  He is not interested to continue the policy and he had been to OP to return the policy amount which he had paid to the Insurance Company as stated supra.  Instead of returning the higher fund the OP told that they will return Rs.39,000/- if policy is surrendered and in all he has paid Rs.1,00,000/- from the date of commencement till today and as per the policy he is entitled to all the benefits including the interest and fund value.  Instead of paying the amount by closing the policy, OP has been postponing the same by one or other pretext.  So he has no more interest to continue the policy.  So OP is liable to pay the charges as under:

The OP has rendered deficiency of service to him and as such OP is liable to pay Rs.1,99,000/-.  So he has come up with present complaint, so complaint be allowed and grant reliefs as prayed for.  

6. Let us have a look at the material evidence of the documents.  Document No.1 is the copy of policy schedule issued by OP in the name of complainant for a sum assured of Rs.3,40,000/-, regular premium is of Rs.10,000/- and commencement of the policy is 07.03.2006 and date of expiry is 03.07.2022, name of the policy is life long unit linked policy and said policy covered life risk.  The complainant has produced acknowledgment issued by OP in the name of complainant dated 22.05.2014 for having paid premium amount of Rs.10,000/-.  The complainant has produced the terms and conditions of the policy wherein it is stated under article No.15 that policy holder is entitled for surrender value of the policy provided regular premium has been paid for 2 year full policy year.  The complainant has produced one premium paid certificate for the year 2011-2012 and that document shows that complainant has premium of Rs.10,000/- in respect of ICICI Prudential Life Insurance and not Aviva Life insurance.

7. So looking to the case of the complainant on the background of oral and documentary evidence of complainant together with terms and conditions of the policy, it is made manifest that the complainant has taken Aviva Life Unit Linked policy on 07.03.2006 by paying premium of Rs.10,000/- and he has paid policy premium for about 9-10 years.  Now he does not want to continue the policy, he wanted his premium amount paid for 9-10 years back along with 24% interest and fund value etc.  But as per the policy terms and conditions the complainant is entitled to surrender value of the policy and not the amount as prayed in the prayer column of the complaint.  We do not understand on what basis the complainant is seeking refund of premium amount paid for 9-10 years along with 24% interest and fund value.  In fact the claim of the complainant as made out in the complaint and during the course of evidence of the complainant is not fortified by any terms and conditions of the policy issued in the name of the complainant.  After taking policy by filling up form agreeing to the terms and conditions of policy both insured and insurer have to act according to terms and conditions of the policy.  Since the claim of the complainant is not countenanced by any of the terms and conditions of the policy taken in the year 2006.  So he is disentitled to claim his paid up premium amount along with 24% interest and fund value and as such we are of the considered opinion that the complainant who comes to Forum seeking relief has utterly failed to prove his case with believable material evidence that the OP is negligent and there is a deficiency of service on the part of OP in not making settlement of his claim and accordingly the complaint of complainant is not maintainable.  In the result for the foregoing reasons, we proceed to pass the following:   

                                         O R D E R

The complaint of complainant is hereby dismissed.  No costs.

          Supply free copy of this order to both the parties.

(Dictated to the Stenographer and typed in the computer and transcribed by her, verified and corrected, and then pronounced in the Open Court by us on this the 26^th day of June 2015)

MEMBER                                                                  PRESIDENT

Vln* 

COMPLAINT NO.1259/2014

Complainant                 -        Sri.E.Venkatesh,
         Bangalore-68.

                                          -vs-

Opposite Party              -        The Manager,

         Aviva Life Insurance Policy,

                                            Bangalore-4.

Witnesses examined on behalf of the complainant dated 31.10.2014.

1. Sri.E.Venkatesh

          OP  -       Nil

MEMBER                                                                 PRESIDENT

Vln*