VIKRAM JEET SINGH vs LIFE INSURANCE CORPORATION OF INDIA

PETITIONER was the complainant before the District Forum, where he had filed a complaint alleging deficiency in service on the part of the respondent, Life Insurance Corporation of India (L.I.C.)

UNDIDSPUTED facts of the case are that the complainant''s father had obtained a ''Money Back Chidren''s Assurance Without Profit" Policy in favour of the complainant. The policy was to mature on 28.2.2022. The sum assured was Rs. 1, 00,000. The basic terms of the policy was that if the bread winner dies then on the date of maturity the child would get the assured amount. In this case the proposer, i.e., the father of the complainant died on 1.10.2000. It seems that the claim was preferred for pre-mature payment but it was repudiated. It is in these circumstances a complaint was filed before the District Forum, who after hearing the parties and perusal of material on record, dismissed the complaint. An appeal filed by the petitioner was also dismissed, hence this revision petition. We heard the learned Counsel for the petitioner and also perused the policy. There is no dispute that the assured was the complainant who is alive and the money was to be given to him on the date of maturity. Since the date of maturity is very far off the assured amount was not paid. In any case, the person assured was the complainant, the father of the complainant who died was only a proposer. Proposer, in any case, was not the assured, hence the respondent LIC was correct in not honouring the claim of the petitioner. He shall have to follow the terms of the contract, i.e., the policy entered between the parties. There is no legal infirmity or jurisdictional error in the order passed by the State Commission calling for any interference.

THIS revision petition has no merit, hence dismissed.