Ludhiana: The District Shopper Disputes Redressal Fee has ordered a life insurance coverage firm to pay a composite price of Rs 20,000 after it rejected the life insurance coverage declare of an individual.
As per complainant Geeta, widow of Om Prakash, an agent of the alternative celebration approached and allured her husband to buy an insurance coverage coverage, upon which Om Parkash bought a life insurance coverage coverage for a sum assured of Rs 8,95,116.Later, the complainant said that her husband died on March 5, 2015, and intimation of loss of life was given to the alternative celebration.
The complainant, being nominee of her husband, lodged a declare of Rs 8,95,116 by submitting all the unique paperwork.
Nonetheless, the alternative celebration said that the contract of insurance coverage is a contract based mostly on utmost good religion, however the insured had suppressed the truth that he was affected by Tuberculosis since September 17, 2012, which is previous to issuance of the insurance coverage coverage.
The fee, after appreciating the proof on report, held that in its view, the premise of non-disclosure of pre-existing ailments couldn’t have been made a floor to reject the declare.
We additionally revealed the next articles just lately
Tata AIA Life Insurance coverage companions with SAS for IFRS 17 compliance, leveraging superior reporting options. SAS acknowledged with Asia Danger Awards for its IFRS 17 resolution. Tata AIA reviews progress in IWNBP earnings and improved Loss of life Claims Settlement ratio, emphasizing persistency.
Star Well being and PhonePe collaborate for insurance coverage with EMI choices, as much as Rs 1 crore protection. UPI AutoPay accessible. Anand Roy highlights user-friendly fee. PhonePe CEO Gupta values the partnership as vital.
Adblock take a look at (Why?)