Signature forgery on insurance proposal forms detected
DKJ
(Querist) 02 November 2017
This query is : Open
It has been clearly detected that my signatures are forged on policy proposal forms of life insurance policy which I bought in 2009. I bought this to the notice of my insurer and the insurer is maintaining absolute silence about signature forgery. It is clearly evident that my signatures are forged at 2 places. I have filed a case in district consumer forum. I guess consumer forums don't decide on cases on signature forgery. There is one more ground of tampering the proposal form without authentication (absence of counter-signature) on which my case in consumer forum may stand. Regarding signature forgery, what action can I take ? Can I get a forensic test done at my cost for forged signatures and then submit the forensic report in court ? In future, if the insurer wants to settle the matter out of court, can I withdraw my case ? Against whom I should file a case in court ? The insurance agent who sold me the policy in 2009 is no more employed with my insurer.
Guest
(Expert) 02 November 2017
Vague query without disussion of background of the case!
What exactly is dispute with whom and for what purpose you want to prove your signatures as forged?
Also, how could you come to know that the signature at 2-3 places forged, when the proposal form is supposed to in the custody of the insurer?
DKJ
(Querist) 05 November 2017
I purchased a ULIP in 2009. I opted for "Nominee" in the Proposal Form. The ULIP plan I purchased had no provision for "Nominee". It has provision only for "Beneficiary" . Later the agent discarded the "Nominee" option and opted for "Beneficiary" option in the proposal form. This tampering on proposal form was done without my knowledge and without my authentication. Now, when I approached the insurer to surrender the policy and claim the surrender value benefits, the insurer told me that the surrender value benefits will be given only to the "Beneficiary" named in the policy and not to the surviving policyholder. This is ridiculous. But, the fact is that the policy has no provision for "Nominee" and has provision only for "Beneficiary".
Regarding signature forgery: My signatures were forged on the mandatory illustration documents that were supposed to be signed by me. The agent was supposed to give me the illustrations of all the charges deductible and also explain me the non-guaranteed returns of 6% and 10% which is mandatory in case of ULIPs as per the guidelines of IRDA. The agent didn't explain me all these at the time of purchase of policy since he was aware of the returns I was expecting from the policy which I had orally mentioned to him when I solicited a policy for investment purpose. The agent wanted to ensure his commission. So, he hurriedly sold of this policy to me and later forged my signatures on the mandatory illustrations pages of the proposal form. This, I believe, is a text book case of mis-selling an insurance policy.
Regarding proposal form: As per the IRDA guidelines, the insurer is supposed to give the policy holder a copy of the filled-in proposal form within 30 days of issuing the policy. Accordingly, I received a copy of the proposal form from my insurer which I had filled at the time of purchase. I have preserved that proposal form till date.
I bought the ULIP policy with a dual purpose - investment and insurance. When I say that one of the purpose as investment, it is natural that when I need money in future, I should be able to surrender the policy and get the surrender value benefits, subject to policy terms and conditions. Currently, I am denied the surrender value benefits. I don't want the surrender value benefits to go to the "Beneficiary" named in the policy during my life time. The tampering in the proposal form without my authentication has harmed my interests. Moreover, if the agent would have explained me the non-guaranteed 6% and 10% returns, I would have not purchased this policy at all. My expectations were higher than 10% returns. So, the agent concealed this mandatory information from me at the time of selling. Later, my signature were forged on the mandatory illustration pages of proposal form. This is clearly evident in proposal form.
