ORDER P.S. Rana (R) President —Present appeal is filed under section 15 of Consumer Protection Act 1986 against order passed by learned District Forum Mandi in consumer complaint No. 332 of 2015 title Brij Lal v. Bajaj Allianz Life Insurance Company Limited decided on 11.05.2016. Brief facts of Case: 2. Complainant namely Brij Lal filed complaint under section 12 of Consumer Protection Act 1986 pleaded therein that complainant was approached by official/agent of opposite party for purchase of single premium unit linked policy on assurance that complainant would get tax benefit for one year and would also acquire life insurance to the tune of ten times of amount invested. It is pleaded that complainant is an income tax assessee and on assurance of opposite party complainant deposited a sum of Rs.150000/- (One lac fifty thousand) in insurance policy. It is pleaded that age of complainant is 66 years and complainant is senior citizen of India. It is further pleaded that when complainant received detail of entire policy he came to know that maturity period of policy is 13.05.2029 after expiry of fourteen years. It is further pleaded that after receipt of policy complainant approached opposite party for cancellation of policy. Opposite party did not cancel the policy and also did not refund the amount of Rs.150000/-(One lac fifty thousand) despite legal notice. Complainant sought following reliefs (i) Refund of amount to the tune of Rs.150000/-(One lac fifty thousand) plus interest @12% per annum (ii) Complainant also sought compensation to the tune of Rs.25000/- (Twenty five thousand) for causing harassment and complainant also sought litigation costs to the tune of Rs.25000/- (Twenty five thousand). 3. Opposite party i.e. Bajaj Allianz Life Insurance Company Limited did not appear before learned District Forum despite service of notice. Acknowledgment receipt signed by Manager Bajaj Allianz Life Insurance Company Limited is placed on record. Learned District Forum Mandi proceeded ex-parte against opposite party on dated 18.02.2016. Complainant filed one affidavit by way of ex-parte evidence. 4. Learned District Forum Mandi cancelled policy annexure C-1 issued by opposite party and directed opposite party to refund Rs.150000/-(One lac fifty thousand) to complainant along with interest @ 9% per annum w.e.f. 01.06.2015 till realization of actual amount. In addition Learned District Forum Mandi granted compensation to complainant to the tune of Rs.5000/- (Five thousand) and also granted litigation costs to complainant to the tune of Rs.2000/- (Two thousand). In addition Learned District Forum Mandi granted compensation to complainant to the tune of Rs.5000/- (Five thousand) and also granted litigation costs to complainant to the tune of Rs.2000/- (Two thousand). 5. Feeling aggrieved against order passed by learned District Forum appellant Bajaj Allianz Life Insurance Company Limited filed present appeal before State Commission. 6. We have heard learned advocate appearing on behalf of appellant and we have also heard learned advocate appearing on behalf of respondent and we have also perused entire records carefully. 7. Following points arises for determination: 1. Whether appeal filed by the appellant is liable to be accepted as mentioned in memorandum of grounds of appeal. 2. Final order. Findings upon point No.1 with reasons: 8. Submission of learned advocate appearing on behalf of appellant that absence of appellant was neither intentional nor deliberate and appellant has legal right to be heard on the doctrine of Audi Altem Partem and complaint be remanded back to District Forum for fresh decision upon merits is rejected being devoid of any force for the reasons hereinafter mentioned. We have carefully perused acknowledgement receipt issued by postal and telegraph department placed on record. Acknowledgment receipt is duly signed by official of Bajaj Allianz Life Insurance Company Limited. It is held that service upon opposite party was effected strictly as per section 28A(3) of Consumer Protection Act 1986 and it is held that learned District Forum has legally declared that notice was served upon opposite party. 9. Submission of learned advocate appearing on behalf of appellant that insurance policy was unit linked policy having minimum lock in period of 5 years as per terms and conditions of policy and on this ground appeal be allowed is decided accordingly. We have carefully perused insurance policy issued by opposite party placed on record. There is a specific condition in insurance policy that insurance policy could be surrendered during first five years subject to following conditions (1) Death benefit under plan will terminate immediately (2) The option to revive the policy will not be available (3) The discontinuance value as at the end of lock in period of five year will be available as surrender value. 10. It is proved on record that complainant is literate person and he is also a retired person. It is not the case of complainant that complainant is an illiterate person. 10. It is proved on record that complainant is literate person and he is also a retired person. It is not the case of complainant that complainant is an illiterate person. It is held that terms & conditions of insurance policy are binding upon complainant and it is held that complainant cannot be allowed to flout terms & conditions of insurance policy placed on record after signing the same. See CPR 2016(4) 487 NC Amandeep Kaur v. DLF Universal Ltd. & Ors. 11. It is proved on record that policy No.0322931828 was issued to complainant by Bajaj Allianz Life Insurance Company w.e.f. 13.05.2015 vide reference D40. It is proved on record that present complaint was filed by complainant on dated 31.12.2015. As per terms & conditions of insurance policy within 15 days or within 30 days in case policy is issued under the provisions of IRDAI guidelines on Distance Marketing of Insurance Products policy holder has option to review terms & conditions of insurance policy with option to refund policy stating the reasons for objections. There is no evidence on record that complainant has exercised option to refund policy stating the reasons for objections within 15 days or within 30 days. Legal notice was given by complainant to opposite party on dated 02.06.2015 through T.C. Goyal Advocate. Complainant did not file any affidavit of T.C. Goyal Advocate by way of evidence. It is proved on record that complainant did not send option to return policy stating the reasons for objections. It is held that terms & conditions of insurance policy relating to surrender during first five years would apply in the present case inter se parties. 12. Submission of learned advocate appearing on behalf of complainant that condition of surrender during first five years of insurance policy will not apply in the present case is rejected being devoid of any force for the reasons hereinafter mentioned. It is held that complainant had purchased insurance policy after deposit of Rs.150000/-(One lac fifty thousand). It is held that complainant is an educated person and it is also held that terms & conditions of insurance policy are binding upon complainant. It is held that after signing documents relating to insurance company complainant cannot be allowed to approbate and reprobate at the same time. It is held that complainant is an educated person and it is also held that terms & conditions of insurance policy are binding upon complainant. It is held that after signing documents relating to insurance company complainant cannot be allowed to approbate and reprobate at the same time. It is held that all conditions relating to surrender of policy during first five years will be applicable in the present case. Point No.1 is decided accordingly. Point No.2: Final Order 13. In view of findings upon point No.1 appeal is partly allowed and it is held that terms & conditions of insurance policy relating to surrender during first five years would be applicable to both the parties in the present case as per written consent. It is further held that opposite party will refund amount to complainant after deducting surrender value as per terms & conditions of insurance policy placed on record within one month after receipt of copy of order. Order of payment of compensation amount to the tune of Rs.5000/- (Five thousand) is set aside and order of payment of litigation costs to the tune of Rs.2000/- (Two thousand) is also set aside. Order of payment of interest is also set aside. Entire policy document issued by Bajaj Allianz Life Insurance Company Limited placed on record will form part and parcel of order. Order of learned District Forum is modified accordingly. File of learned District Forum along with certified copy of order be sent back forthwith and file of State Commission be consigned to record room after due completion forthwith. Parties are left to bear their own costs. Certified copy of order be sent to parties forthwith strictly as per rules. Appeal is disposed of. Pending application(s) if any also disposed of.