DATE OF FILING :

IN THE CONSUMER DISPUTES REDRESSAL FORUM, IDUKKI

Dated this the 30^th day of November, 2016

Present :

SRI. S. GOPAKUMAR PRESIDENT

SMT. LIZAMMA ABRAHAM. K. MEMBER

SRI. BENNY. K. MEMBER

CC NO.146/2014

Between

Complainant : Micky Mathew,

Choorakkuzhiyil House,

Thodupuzha P.O.,

Idukki.

(By Adv: K.M. Sanu)

And

Opposite Parties : 1. The Manager,

Tata AIG Life Insurance Co. Ltd.,

Thodupuzha Branch,

Thodupuzha P.O.,

Idukki.

2. The Manager,

Tata AIG Life Insurance Co. Ltd.,

Regional Office,

Ernakulam.

(Both by Adv: Saji Isaac)

O R D E R

SRI. BENNY. K. (MEMBER)

This case was once trailed by this Forum and passed exparte order.   Opposite party filed an appeal as Revision Petition No.29/14 dated 23.9.2014, the same is remanded back for fresh disposal.

            The complainant approached the Forum for getting the premium amount paid and also for compensation for the deficiency in service and unfair trade practice from the part of opposite parties.  The agent of the opposite party had detailed the benefits of the policy.  As per the offer and assurance of the opposite parties, the complainant paid Rs.15000/- as yearly premium.  By paying the amount, he would be eligible for life insurance coverage, accidental and medical insurance benefits also.  The policy can be closed any time after 3

(cont....2)

- 2 -

years.  If the premium  continuously paid for 3 years and would get the amount paid.  The opposite party had assured that this policy was a highly valued investment option.  Accordingly the complainant paid the 1^st premium in two policies   as Rs.30000/-.  After the 3^rd year, complainant approached the opposite parties for refunding the premium and then they offered a very less amount.  Insurance contract entered into by the complainant and opposite party by hiding actual facts is void.  The complainant had not received any benefits as per the policy and even the remitted amount.  This is a gross deficiency in service and unfair trade practice from the part of opposite parties.  The complainant is entitled to get the premium amount paid. 

            As per the preliminary objection filed by, opposite party had challenged the jurisdiction of this Forum to entertain the present complaint stating that the policy being a unit linked policy, such policies and re speculative in nature and the disputes relating to the complaints are not entertainable before the consumer Forum under Consumer Protection Act.  It is well settled in the case of Ram Lal Aggarwlla Vs. Bajaj Alliance Life Insurance Co. Ltd.  We are bound by the law.  Hence the present complaint is not maintainable.

            Heard both parties.  We are allowing the maintainability petition.  As per the order from the National Commission in Ram Lal Aggarwalla Vs. Bajaj Alliance Life Insurance Co. Ltd., in RP No.658/2012,this Forum is not having any jurisdiction to try the matter.

            Hence the original petition dismissed.  The complainant can approach appropriate authority for the same claim petition.  No cost is ordered against the complainant.

             Pronounced in the Open Forum on this the 30^th day of November, 2016

  Sd/-

SRI. BENNY K. (MEMBER)

Sd/-

I agree SRI. S. GOPAKUMAR (PRESIDENT)

Sd/-

I agree SMT.LIZAMMA ABRAHAM. K. (MEMBER)

Forwarded by Order,

SENIOR SUPERINTENDENT