Jaipur: District Consumer Commission II has thought-about the deduction of the quantity collected as dwelling mortgage insurance coverage cowl whereas returning it to the patron as a service defect. Along with this, the fee has requested SBI Life Insurance Company to return the deducted quantity of Rs 41059 together with curiosity. Along with this, the fee has additionally imposed a nice of Rs 65 thousand on the insurance coverage firm. Commission Chairman Gyarsi Lal Meena gave this order on the grievance of Jagmohan Singh Yadav.
It was stated within the grievance that the complainant had purchased a home in Indira Gandhi Nagar within the 12 months 2010. In such a scenario, a mortgage of Rs 10.69 lakh was sanctioned by SBBJ Bank. At the identical time, Rs 1.34 lakh was deducted as insurance coverage cowl for the house mortgage. During this, the complainant was assured that if he didn’t need insurance coverage, then this quantity can be returned to him. It was stated within the grievance that the complainant paid the primary installment of the mortgage in January 2011.
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Apart from this, when the complainant requested for the return of the quantity deducted as insurance coverage cowl, he was despatched a replica of the insurance coverage coverage bond. On this, the complainant expressed disagreement concerning the insurance coverage coverage. It was stated within the grievance that in a while May 30, 2011, solely Rs 92941 was returned as an alternative of Rs 1.34 lakh deducted as insurance coverage cowl. In this case, Rs 41059 has been illegally deducted from the complainant. Hearing on this, the fee has imposed a penalty on the insurance coverage firm whereas ordering to return the deducted quantity together with curiosity.
