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Insurance company to pay Rs 20,000 for issuing policy with different terms

Max New York Life Insurance Company Ltd been ordered by a consumer forum to pay Rs 20,000 as compensation to the grandfather of a policy holder for issuing a policy with terms and conditions different from what was told to him.

The Central District Consumer Disputes Redressal Forum also observed that the insurance firm had refunded the premium amount received from the complainant after he had filed a complaint.

‘From the pleadings and undisputed evidence of the complainant, we find that the complaint has got merit. The insurance company issued the policy with terms and conditions, which were different from the terms and conditions told to the complainant.

‘We believe in the case of the complainant. The insurance company returned the amount after filing of the complaint. It had enough time before filing of the complaint to refund the amount as the complainant made several oral requests and also sent letters, representations and legal notice etc as pleaded,’ the bench presided by B B Chaudhary said.

It directed Max New York Life to pay Rs 15,000 as damages and Rs 5,000 as litigation cost to the complainant.

The forum’s order came on the plea of Delhi resident Krishan Lal Nagpal who had alleged that the insurance firm had issued him a policy, which had terms and conditions different from what was told to him by its agent.
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