Decided on August 26,2020

Radha Rani Gupta Appellant
Hdfc Standard Life Insurance Co Ltd Respondents


Prem Narain,J. - (1.) This revision petition has been filed by the petitioner Radha Rani Gupta and Anr., challenging the order dated 15 April 2019 passed by the State Consumer Disputes Redressal Commission Delhi th (in short the State Commission) in Appeal No. 274 of 2015.
(2.) The brief facts of the complaint are that the complainants had life savings of Rs.4,70,000/- and complainant no.1 went to OP no.2 in order to get an FDR issued for the same amount. OP no.1 suggested that the complainant no. 1 should deposit the 50% of the amount into "Savings Assurance Scheme" and for the rest of the amount FDR will be issued. Further, the complainant no. 1 was informed that the deposit to be made in the scheme is for a minimum of 3 years and a premium of Rs,10,000/- will have to be deposited for the subsequent 2 years, on maturity, they could withdraw their deposit with assured benefits. The complainant no. 1 decided to go forward with the proposed plan. OP no.2 issued FDR on 22.04.2009 for 50% i.e. Rs.2,35,000/- and the rest of Rs.2,35,000/- were adjusted in the first premium of the policy with the option of reducing the same to Rs.10,000/- per year as clearly stipulated in clause 1 of the policy and clause 3 of the policy provided that the complainants had the option of withdrawing from the policy after completion of 3 years.
(3.) The consultant of OP no.1 asked the complainant no.1 to fill her name on the policy application form and sign the blank form. She was made to sign all the pages of insurance policy document after a year of the policy being issued. She was made to sign some documents in May 2011, when the third and last premium was paid.;

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