AHMEDABAD - Gbic.co.in

Category - MISCELLANEOUSOrder No.BPL/LI 09-10/ 56Case No. MX-293-20/01-09/GurOrder dated 13.11.2009Shri Harish Kumar Pahwa …………………...……..ComplainantMax New York Life Ins.…………………………..…RespondentBrief BackgroundShri Harish Kumar Pahwa, resident of Indore (MP) lodged the complaint that he was insuredunder policy no. 704141589 under plan Life Maker premium unit linked investment plan forSA of Rs. 5.00 lakh and paid with semi-annually premium Rs.25000/- on 30.09.2008.Policy was issued to him on 01.11.2008. On 11.11.2008 Shri H.K. Pahwa (Complainant)submitted an application for complaining that he did not received proper product hence hewant to change the plan, again he wrote to the company to refund the premium on22.12.2008. In response of above complaint the respondent has refunded the amount of Rs.25000/- on 05.02.2009.Aggrieved from the action of the respondent the complainant lodged the complaint on29.01.2009 seeking the direction for payment.The Complainant did not present himself and also not submitted p2, p3 form despite numberof reminders.The Respondent represented by Smt.Babita Biswas, Asstt. Manager (Operation), Max NewYork Life Insurance company presented herself and submitted that though the request forcancellation of policy was not received during free look period we have cancel the policy andrefunded the amount on 05.02.2009. Since the issue is settled we request you to dismiss thecomplaint.FINDINGS & CONCLUSIONS:-There is no doubt that he was insured under the policy no. 704141589 and deposited amountRs. 25000/- towards semi-annually premium was refunded to the complainant on 05.02.2009.Since the complaint is redressed by the respondent, the complaint is dismissed without anyrelief.