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KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION, THIRUVANANTHAPURAM
K. Surendra Mohan (President), T. S. P. Moosath (Judicial Member), *Ranjit R. (Member), Radhakrishnan K. R. (Members)
HDFC Standard Life Insurance Co. Ltd. v. Babu mark tannikal
| Table of Content |
|---|
| 1. overview of the appeal and the initial consumer complaint. (Para 1 , 2 , 3) |
| 2. court's assessment of the policy terms and their implications. (Para 5 , 7 , 8) |
| 3. arguments presented by the appellants regarding policy conditions. (Para 6) |
1. This appeal is filed by the opposite parties 1 & 2 against an order dated 29.6.2017 in C.C. No. 789/2013 of the Consumer Dispute Redressal Forum, Ernakulam (in short the District Forum). The District Forum by its order directed the opposite parties to refund Rs.2,23,800 paid by the complainant with 18% interest from 19.3.2010 till realization. The opposite parties were also directed to pay a sum of Rs.50,000 towards compensation and Rs.5,000 towards costs.
2. The case of the complainant in brief is that he had taken an insurance policy 'HDFC Children's Double Benefit Plan' with a term of 15 years on 16.3.2009. The annual premium of the policy is Rs.1,11,900. He had remitted the premium for two years and thereafter due to financial stringencies he could not pay the subsequent premiums. The complainant hence decided to discontinue the policy and as such he had requested the opposite parties to withdraw from the policy and also asked
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