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KALYANI KAPSE, SHAILA D. WANDHARE
Chirag S. O. Bharat Sheth – Appellant
Versus
Branch Manager, LIC of India – Respondent
ORDER
Kalyani Kapse, Presiding Member.—Present Complaint is filled by the Complainants namely, Shri Chirag S/o Bharat Sheth and Payal W/o Chirag Sheth against the opponents namely Branch Manager, LIC Nagpur and the Senior Divisional Manager, LIC Nagpur under section 47 of Consumer Protection Act, 2019. (In shot “The Act”).
2. The factual matrix of the Consumer Complaint is as follows- The complainants have purchased the certain policies namely Jeevan Shiromani from LIC. The sum assured for each policy was Rs.1 Crore. The policies under Jeevan Shiromani Plan have a unique feature that loan can be secured against the said policies to the extent of 90% of the premium paid from the date of commencement. This was a relevant consideration for the complainant to take the said policy. Apart from this Jeevan Shiromani Plan has several other unique features. Such as, the policy holder can get paid up immediately after a period of 1 years from the date of commencement as against the 3 years for the other policies. It is most important that, the plan comes with a coverage for the critical illness, accidental death benefit, disability benefit etc.
3. The Opp. Party No.1 assured the complainant tha
(1) Burden of Proof – Burden of proof regarding delivery lies with the insurer. The Commission termed the “personal delivery without receipt” argument as untenable.(2) Unfair Trade Practice – Asking ....
Utilization of amount deducted exclusively for obtaining Home Safe Plus Merchant Policy, for other purpose without complainants’ consent or knowledge amounts to deficiency in service on part of bank.
LIC is required to send intimation on maturity of policy to policy holders.
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