Page 31 - Life Insurance Today May 2016
P. 31
LEGAL
Legal Case Studies on Life Insurance-
Misc.
Case No.AHD-L-029-1314:0023 premium of Rs.23,000/- for 10 years so compelled to can-
cel within free look period. But his son was an ex-em-
Mr. Sumer Singh Rajpurohit ployee of the Insurer as Financial Planning Associate who
was fully aware of the Proposal details & Terms and con-
Vs. ditions of the policy.
LIC of India Policy can not cancel issued to Insurer's employees or close
relatives of the employees so Respondent rejected his
Repudiation of Critical rider claim request. In the result complaint dismissed.
Complainant lodged a claim of Rs.2,16,498/- for the treat- Case No.AHD-L-021-1314-0080
ment of Acute Pancreatitis under the critical illness rider Mrs. & Mr.Kirtibhai R. Thakkar
policy was repudiated by the Respondent giving reason
that the said disease is not under the policy. The original Vs.
hospital papers were not available for verification. Policy ICICI Prudential Life Insurance Co. Ltd.
bond does not indicate that critical illness rider was opted
or not, which was printed S.A Rs.2.00 Lacs & DAB S.A
Rs.2,50,000/-.
Respondent produced the copy of their internal circular Refusal of Cancellation request for 5 policies
which shows the names of diseases covered under critical
illness in which the subject disease is not mentioned so, Complainant had taken five Guaranteed Saving Insurance
Respondent's decision is upheld and complaint dismissed. Plan Policies from the Respondent on the basis monthly
pension plan misguided by the Representatives of the
Case No.AHD-L-017-1314:0024 Respondent.
Shri C.K. Mendha
Vs. After getting the policies, Complainant requested to can-
cel all policies and refund the premium paid amounts be-
Future Generali India Life Insurance Co. yond free look cancellation was refused by the Respondent
Ltd. and advised to change the product name which was not
agreeable by the Complainant.
Rejection of Cancellation of Policy and Refund of
Premium On scrutiny of available documents of both the parties, the
Forum directed to cancel the policies and refund the pre-
Complainant's request that he is not capacity to pay yearly mium paid as a special case. In the result complaint suc-
ceeds.
Grounding airplanes to cover your butt would never have let Orville or Wilbur change the world. We would still be spending weeks to
cross the Atlantic to do business in London.
Life Insurance Today May 2016 31
