IMPORTANT POINT
Policy can be forfeited for non-payment of premium.

Rekha Gupta, Member—Revision petition no. 3271 of 2013 has been filed under section 15 of the Consumer Protection Act, 1986 against the order dated 28.05.2013 of the Delhi State Consumer Disputes Redressal Commission, Delhi (‘the State Commission’) in First Appeal no. 76 of 2013.

2. The brief facts of the case as per the petitioner/ complainant are that the petitioner/ complainant took three life insurance policies which were purchased from M/s Bajaj Allianz Life Insurance Co. Ltd., having their office at that time at Pitampura, later on shifted to Rohini. The policies were purchased in the name of his son Ankit Chadha, his wife Premlata Chadha. All the three policies were sold by Mr Rahul Manchanda, the agent of M/s Bajaj Allianz Life Insurance Company Ltd., from Pitampura.

3. The purpose of purchasing the above said policies was for the higher education of his son, who was studying in Hindu College at that time. Petitioner was assured by the agent – Mr Rahul Manchanda, if the payment of the premium discontinues, the entire payment made by the petitioner will be refunded along with the premium after three years in any case. No Brochure or policy was issued by the agent at the time of registration.

4. Thereafter, the petitioner suffered a heavy loss in his business and could not make the payment of the second installment of the premium and the policies lapsed. The company had shifted their office from Pitampura to Rohini, without giving any intimation, neither by phone nor by mail. It was a heavy loss of Rs.60,00,000/- so it was not possible for the petitioner to make the payment of remaining installments of premium.

5. It was very difficult to find out the new office of the Company from Pitampura because nobody was known to them. Finally, the petitioner got the address from some one of their Rohini office and contacted the Manager of the company Mr Sharma and the petitioner explained him the problem for the refund of the money, but he did not show any kind of sympathy and told the petitioner to come after the maturity of the policies after three years.

6. After three years, when the petitioner again visited the office of the Bajaj Allianz Life Insurance Co. Ltd., at Rohini and met Shri Sharma, Manager of the Company and again he behaved rudely and informed me that he cannot have a refund of his money and the same has been forfeited by the Company as per rules laid down in their policy. Petitioner was not told anything of this kind of rules by Mr Rahul Manchanda, who has not contacted him after the issuance of the policies. It was a case of cheating as well as fraud by way of misdeclaration of hiding the facts.

7. Thereafter, he wrote a letter to the Grievance Redressal Officer at their head office for settlement of the dispute in Pune. The letter was written to the Grievance Redressal Officer on 14.05.2010 but nothing has been heard from him till date, as they had not responded to his letter till date and it was an indication of bad intention of the company.

8. When he did not get any reply from the office of Grievance Redressal Officer, he also made a complaint to the office of the Life Insurance Ombudsman, Life Insurance Building, 2/2A Asaf Ali Road, New Delhi – 110002. Thereafter a format was sent by them and the same was sent after filling the same on the very same day on 09.08.2010, but he had not heard anything from them also. Thereafter, he have decided to approach the District Consumer Disputes Redressal Forum (V) (North West District), Shalimar Bagh for the refund of my valuable money as Bajaj Allianz Life Insurance Co. Ltd., wanted to grab his valuable money by way giving the reference of their untold policy.

9. Petitioner has prayed that the respondent company may kindly be directed to pay the principal amount of all three policies – Rs.95,000/.

10. Pay Rs.75,000/- as yearly premium on all the three policies to the petitioner;

11. Pay Rs.50,000/- to the petitioner for the mental as well as physical harassment and caus