Punjab: A leading insurance company was Thursday ordered by a consumer forum in Punjab to pay back 5 lakh to a customer for misleading him by not explaining the terms and conditions of his policy. "My client Sarabjit Singh had purchased a life insurance policy of 5.5 lakh in 2010. The insurance agent told him that he was required to pay 5 lakh in the first year and remaining amount in the next four years," said lawyer H.S. Tiwana. "However, after paying 5 lakh last year, Sarabjit came to know that he had purchased a wrong policy and he was supposed to pay 5 lakh every year for the next four years. My client approached the insurance company but they refused to help him and said that he cannot terminate the policy," he added. In the argument, counsel for the Kotak Life Insurance said Sarabjit had signed the documents after going through all the terms and conditions. However, the forum held the insurance company guilty of misleading Sarabjit and directed it to refund the amount along with nine percent interest and 5,000 as litigation cost.