Kunju Ram v. LIC of India

CC/59/2022 Kunju Ram Vs Life Insurance

08.04.2024 Present:- Mr. Gopal Jandrotia, Advocate for complainant. Mr. Vineet Gupta, Advocate for opposite parties.

Arguments heard. Learned counsel for complainant argued that the

complainant paid one year monthly premium w.e.f. 25.03.2019 to 31.03.2020, but

after imposition of country wide lockdown he could not make the payment of

premiums and the policy stands lapsed. Now complainant has filed this complaint

to refund the deposited premium amount of Rs.45,000/- with interest. Learned

counsel for opposite party argued that as per terms and conditions of the policy,

the surrender is defined in the regulations wherein it is mentioned that policy can

be surrendered at any time during policy term provided premiums have been paid

for at least three consecutive years. In the present case, premium was paid for a

year, but due to imposition of country wide lockdown to curtail the covid-19

pandemic, the complainant could not pay the subsequent premiums. In view of

submissions by the Ld. counsels for the parties, we are of the opinion that at this

stage, opposite parties will again consider the case of the complainant

sympathetically to refund the premium received in view of the financial constrains

and hardship faced by the complainant. The opposite parties, if possible, after

relaxing the terms and conditions may allow the refund to the complainant.

Opposite parties after considering this complaint as representation will decide the

complainant sympathetically within 60 days from the date of receipt of copy of this

order. If complainant thereafter still not satisfied, then he may approach the

appropriate Court/Forum/Commission. With these observations, complaint is

disposed of. Copy of this order be sent to the parties, free of cost, as per rules. File

after due completion be consigned to the record room.

Member Member President