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Judgment
Smt. Sushila Devi, the complainant, obtained one life insurance policy in the name of her son, Sh. Vijay Kumar Prasad, under Table and Term 47/20 with the accidental benefit, on 28.09.2000 for a sum of Rs.1,05,000/-. The bond was issued on 27.10.2005. The first quarterly premium was paid on 28.09.2005 and the next quarterly premium was due on 28.12.2005. The insured was entitled for a grace period of 30 days which also expired, on 28.01.2006. The policy got lapsed from 28.01.2006 onwards. Unfortunately, Vijay Kumar Prasad, the assured, passed away, on 05.02.2006, on which date the policy already stood lapsed.
The District Forum allowed the complaint of Smt. Susheela Devi. However, the State Commission reversed the same by placing reliance on LIC of India Vs. Mani Ram, 3 92005) CPJ 31 (NC).
Counsel for the petitioner/complainant submitted that the policy was wrongly submitted by OP. He has invited our attention towards para No.11 of the policy, which reads as under :- "11. The policy having been issued under the Corporation''s Salary Saving Scheme, it is thereby declared that the instalment premium shall be payable at the rates shown in the Schedule of the Policy so long only as the Life Assured continues to be an employee of his present employer whose name is stated in the proposal, and the premiums are collected by the said employer out of the Salary of the employee and remitted to the Corporation without any charges. In the event of the Life Assured leaving the employment of the said employer of the premiums ceasing to be so collected and / or remitted to the Corporation, the Life Assured must intimate the fact to the Corporation and in the event of the Salary Savings Scheme being withdrawn from the said employer, the Corporation shall intimate the fact to the Life Assured and all premiums falling due on and after the date of his leaving the employment of the said employer or cessation of collection of the premium and remittance thereof in the manner aforesaid or withdrawal of the Salary Saving Scheme as the case may be, shall stand increased by the imposition of the additional charge for monthly payment that has been waived under the Salary Savings Scheme at five prevent of the premium exclusive of any premium charge for Double Accident Benefit or Extended Permanent Disability Benefit and any other extra premium charged. During the period in which the premium is remitted to the Corporation through the employer, the instalment premium will be deemed to fall due on the 20 day of each th month instead of the due date within mentioned".
The counsel submitted that this Para is not applicable in the petitioner''s/complainant''s case. The insured did not work under any employer.
The insured must have taken this policy with open eyes. It was his or her duty not to accept the policy under these conditions. The policy was issued in the year 2005. At this stage, the complainant cannot take this plea. The Revision Petition is without merit and, therefore, the same is hereby dismissed.