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