Order No.  9  dt.  17/07/2019

            The case of the complainants in brief is that the complainants submitted proposals for life insurance policy issued by o.p. insurance company on 14.3.16 for Swati Banerjee and Chanchal Banerjee being policy nos.03305003 and 03306554 whereby the sum assured were Rs.4,61,753/- and Rs.5,01,591/- respectively and yearly premium of the respective policies were Rs.96,777/- and Rs.98,986/-. The complainants were informed that the policies would be for 15 years with onetime premium and after 7 years at any time amount can be withdrawn. The complainants paid the premiums accordingly and after getting policy documents the complainants came to learn that the policy holders will have to deposit the premium for 7 years to o.p. insurance company which will be continued for the next 15 years, but the said fact was not disclosed to the complainants. The complainants having found that there was suppression of material facts and the said fact got clarified after receiving the policy documents on 13.8.17. The complainants, thereafter, within the free look period filed those policy documents to o.ps. for cancellation of those policies. But o.ps. did not take any step for cancellation of those polices for which,  the complainants filed this case praying for direction upon the o.ps. to refund the premium amount deposited by the complainants to the tune of Rs.96,777/- and 98,986/- respectively as well as compensation and litigation cost.

                The  o.ps. appeared in this case by filing power, but did not file any w/v to contest the case and as such, the case has proceeded ex parte against them.

                The complainants have also relied on the petition of complaint instead of filing separate evidence and by filing a petition the complainants stated that the petition of complaint be treated as evidence.

                The complainants in their petition categorically stated that they submitted proposals for life insurance policy issued by o.p. insurance company on 14.3.16 for Swati Banerjee and Chanchal Banerjee being policy nos.03305003 and 03306554 whereby the sum assured were Rs.4,61,753/- and Rs.5,01,591/- respectively and yearly premium of the respective policies were Rs.96,777/- and Rs.98,986/-. The complainants were informed that the policies would be for 15 years with onetime premium and after 7 years at any time amount can be withdrawn. The complainants paid the premiums accordingly and after getting policy documents the complainants came to learn that the policy holders will have to deposit the premium for 7 years to o.p. insurance company which will be continued for the next 15 years, but the said fact was not disclosed to the complainants. The complainants having found that there was suppression of material facts and the said fact got clarified after receiving the policy documents on 13.8.17. The complainants, thereafter, within the free look period filed those policy documents to o.ps. for cancellation of those policies. But o.ps. did not take any step for cancellation of those polices for which,  the complainants filed this case.

                The complainants also filed the documents in support of their contention including the acknowledgement receipt showing that they applied to o.ps. for cancellation of those policies within free look period. The o.ps. did not take any step for cancellation of those policies in spite of receiving the application filed by the complainants. Since the evidence of the complainants has remained unchallenged, therefore we have no other alternative but to accept the contention of the complaint. In view of the facts and circumstances as stated above, we hold that there is gross deficiency in service as well as unfair trade practice on the part of o.ps. and the complainants will be entitled to get the relief.         Thus the case is disposed of accordingly.

                Hence, order,

                That the CC No.45/2019 is allowed ex parte with cost against the o.ps. The o.ps. are jointly and/or severally directed to refund the amount of Rs.96,777/- (Rupees ninety six thousand seven hundred seventy seven) only  and 98,986/- (Rupees ninety eight thousand nine hundred eighty six) only to the complainants along with compensation of Rs.10,000/- (Rupees ten thousand) only for harassment and mental agony and litigation cost of Rs.2000/- (Rupees two thousand) only within 30 days from the date of communication of this order, i.d. an interest @ 8% p.a. shall accrue over the entire sum due to the credit of the complainant till full realization.