Order No.    19      Dated  14/05/2014.

          The case of the complainant in short is that complainant had made an insurance policy of Aviva Insurance Co. India Ltd. (hereinafter referred to as o.p.) on the suggestion of the adviser of the company. Accordingly, complainant agreed to make a policy and his policy was effected from 2.1.06. Within 39 months complainant had paid Rs.39,000/- by paying quarterly premium of Rs.3000/- for his policy being no.LLG1197785. After paying the premium of Jan, 2009 complainant had stopped to pay his premium for not satisfying NAV of policy fund, but he had not surrendered his policy bond in 2009. When he had searched about his fund value in Oct. 2010 over phone he was shocked knowing the news that his policy units had been deducted. Thereafter lodged a complaint at Shyambazar Branch of o.p. company on 30.10.10. Thereafter he has surrendered his policy bond on 3.11.10. Accordingly, the company had sent the surrendered value of Rs.21,991/- deducting Rs.17,009/- from his total paid premium amount of Rs.39,000/-. Then complainant enquired about the deduction of units from his policy bond. But he did not get any reply. Finding no other alternative complainant has filed the instant case with prayer of return of Rs.17,009/- along with interest and compensation and cost.

            O.p. appeared and filed their w/v denying all the material allegations interalia stated that complainant has no locus standi to file the present complaintg as the policy was terminated and on admitted facts the surrendered value has been sent to the complainant. therefore, once as per the terms and conditions of the policy the surrendered value being the conclusive contractual value as the only liability stands paid to the complainant, there is no privity of contract between the parties any more. Complainant had failed to pay the premium on 2.4.09 and thus the said policy lapsed on 2.5.09. As per the policy terms and conditions the policy went into paid up stage on 7.5.09. It is also mentioned in the w/v that when the premium payment has been received within certain time frame and grace period also expired policy becomes invalid. There is a scope of the policy holder for reinstead the policy within two years of the due date of the first unpaid installment of regular premium. In spite of that complainant requested for surrender the said policy and accordingly o.p. had sent the surrendered value. So o.p. prays for dismissal of the case with exemplary cost.

Decision with reasons:

            We have gone through the pleadings of the parties, evidence and documents in particular. It is admitted fact that complainant took the policy being no.LLG1197785 from o.p. company in the year 2006. Thereafter upto 2009 complainant paid the premium regularly. All on a sudden in the year 2010 complainant requested for surrender his policy in question and accordingly, o.p. had surrendered the policy and sent the complainant a cheque amounting to Rs.21,991/- as surrendered value. No question had been arisen from complainant within thre years. In the year 2010 complainant accepted the surrendered value and as such, at this stage there is no contract between the o.p. and the complainant. Once the surrender is accepted by the complainant the relation between the complainant and the o.p. has been ceased. So, the complainant is no more consumer at this stage and the case is not maintainable and as such, complainant is not entitled to relief.

            Hence, ordered,

            That the case is dismissed on contest without cost.

            Supply certified copy of this order to the parties free of cost.