Page 144 - Suri’s - NCDRC ON LIFE INSURANCE 2017 V1.3

Suri’s - NCDRC ON LIFE INSURANCE 2017 144

Material fact - An information which would influence the decision of
the insurer as to whether it should accept the proposal or not and

whether it should grant the insurance policy or not, would be a
material fact, which a person seeking to obtain an insurance pol-

icy must necessarily disclose to the insurer that he had undergone

a surgery in April 2005 - Had he disclosed the said information,
the insurer might or might not have accepted the proposal submit-

ted by him - The insurer might also have asked him to undergo

additional investigations in order to verify the state of his health
and the risk to his life on account of the surgery he had under-

gone in April 2005 - It could also have asked for a higher pre-
mium, on account of the insured having undergone the aforesaid

surgery - Since the insured withheld the aforesaid material fact
from the insurer while applying for the insurance policy, the in-

surer was fully justified in rejecting the claim on account of the

aforesaid concealment. ...124
Material fact - Concealment - The contention taken by the complainant

that the proposal form was filled by an agent, does not provide
him any benefit, because it has not been denied that the said form

was submitted by the life assured under his own signatures. ...120
Material fact - Pension - Proposal form submitted by the father of the

complainant, Mahabir Singh before the OP Insurance Company

shows that he had mentioned in the column, ‗nature of duties‘
that he was a pensioner and his source of income was pension and

that he was getting Rs. 65,000/- per annum as pension - On the

other hand, it is amply made clear that Mahabir Singh was retired

INDEX