Page 138 - Suri’s - NCDRC ON LIFE INSURANCE 2017 V1.3

Suri’s - NCDRC ON LIFE INSURANCE 2017 138

tion - Even after the lapse of two years of taking the policy, it
was necessary to disclose information about the material facts be-

fore the Insurance Company. ...52
Insurance premium paid - Matter was under consideration of the compe-

tent authority of the LIC, as to whether the proposal should be

accepted or not - The mere acceptance of a part amount does not
amount to acceptance of the proposal. Held, The facts and cir-

cumstances of the case bring out that medical examination was

conducted on the husband of the complainant at the time of sub-
mitting the proposal form. According to the LIC, the medical re-

ports were in the process of being evaluated by their Divisional
Office, when the husband of the complainant died. It is made out

from these facts that there was no acceptance of the proposal in
any form on the part of the LIC when the applicant died on

11.07.98. The State Commission have also observed that the

amount of Rs. 1,051/- in respect of each policy was received un-
der the proposal ―deposited receipts‖, and not as a part of the

premium for the proposal submitted. The LIC have also stated

that the first premium receipt-cum-acceptance letter had not been
sent by them to the applicant. We, therefore, have no reason to

disagree with the conclusion of the State Commission that the
mere acceptance of a certain amount from the applicant, does not

amount to a concluded contract between the parties. ...6
Investigator report - Conclusion of the investigator is based upon some-

thing revealed during investigation - However, there is no evi-

dence to show as to what is the source of that revelation - There-

INDEX