SUNITA DEVI Vs. LIC OF INDIA

JUDGEMENT

(1.) This revision is directed against the order of the State Commission, Haryana dated 23.2.2017 whereby the State Commission modified the order of the District Forum, Sonepat and reduced the amount of compensation payable to the petitioner/complainant from Rs. 57,479/- to Rs. 30,000/-.

(2.) Briefly put, facts relevant for the disposal of the revision petition are that the petitioner/complainant purchased Unit Link insurance policy from the opposite party. The policy was valid for a period of 20 years and the annual premium payable was Rs. 10,000/-. The petitioner deposited three premiums in the years 2007, 2008 and 2009 respectively. After paying three premiums the petitioner submitted his application for pre-mature closure of the insurance policy. The insurance company sent a cheque of Rs. 28,078/- to the petitioner being the NAV payable in event of pre-mature closure of the insurance policy. The complainant declined to accept the cheque as according to her she was promised that after three years she would receive Rs. 57,479/- as maturity value in March, 2012. Being aggrieved by the offer of the less amount the petitioner raised a consumer dispute.

(3.) The District Forum on the basis of the pleadings of the parties and the evidence allowed the consumer complaint and directed the insurance company as under:-