Rejecting the Life Insurance Corporation of India (LIC) s contention that the insured failed to disclose diabetes and an earlier operation for the removal of gall bladder, the national consumer disputes redressal commission (NCDRC) directed the insurer to pay Rs19.75 lakh as a death insurance claim along with an interest of 9%pa (per annum) and Rs10,000 litigation cost to the family of the deceased life assured (DLA).
The National Consumer Disputes Redressal Commission, presided by Subhash Chandra, held Life Insurance Corporation liable for deficiency in service over invalidating an insurance case citing.
The National Consumer Disputes Redressal Commission, presided by AVM J. Rajendra, held that the contracts of life insurance are based on utmost good faith and the insured has a duty to disclose all.
The National Consumer Disputes Redressal Commission (NCDRC) bench comprising J. Rajendra (Presiding Member) dismissed a revision petition filed against Bajaj Allianze Life Insurance Co. based on the.
While asking the Life Insurance Corporation of India (LIC) to pay Rs2 lakh as a claim for death insurance, the national consumer disputes redressal commission (NCDRC) reiterated that it is upon the insurer who has rejected the claim to prove that the deceased life assured (DLA) suppressed material information or provided false information material while buying the policy.