ISLAMABAD: President Dr Arif Alvi has directed EFU Life Assurance Ltd to refund Rs 100,000 along with profit to a poor lady who had been misled to obtain the insurance policy. According to a press release issued by the President House Press Wing on Thursday, Zubaida Begum had obtained an amount of Rs 100,000 by participating in a local “committee” and intended to deposit the amount in her bank account, but she was fraudulently issued an insurance policy at the bank. Being a poor lady, when she expressed her inability to pay an annual premium of Rs 100,000 and asked for a refund of her deposit, she was told that she’d only be refunded an amount of Rs 40,000, being the prevailing cash value of the policy. Feeling aggrieved, she approached the Federal Insurance Ombudsman (FIO) but her grievance was not addressed. Later, she filed a representation with the President against the decision of FIO. The president personally heard the case of the aggrieved lady, and after going through the record, decided the matter in her favour. In his decision, he observed that the complainant was entitled at least to the refund of the principal amount as her claim was just and fair. APP
