Dated : 17th Sep, 2013
Source : Indian Express
The Haryana State Consumer Disputes Redressal Forum slapped a penalty of Rs 50,000 on an Insurance Company after finding the settlement of a life insurance claim faulty. The Forum directed the comapany to pay Rs 40 lakh as the insurance amount which was earlier repudiated, to the mother of ahiwani resident.
Late Yudhvir Singh, had purchased a Life Insurance policy from Birla Sunlife Insurance in December 2011 which was slated to mature after thirty years. Singh, however, died in a road accident in April, 2012. When his mother, Ram Ratti Devi approached the company with the requisite documents to claim the aforesaid policy, her plea was rejected.
The insurance firm claimed that the replies filed by Singh were false as he was suffering from Tuberculosis (TB) and was undergoing treatment for the same before submitting the proposal form. The company maintained that it was misled to issue the policy and was justified in repudiating the claim.
The Haryana State Consumer Disputes Redressal Forum slapped a penalty of Rs 50,000 on an Insurance Company after finding the settlement of a life insurance claim faulty. The Forum directed the comapany to pay Rs 40 lakh as the insurance amount which was earlier repudiated, to the mother of ahiwani resident.
Late Yudhvir Singh, had purchased a Life Insurance policy from Birla Sunlife Insurance in December 2011 which was slated to mature after thirty years. Singh, however, died in a road accident in April, 2012. When his mother, Ram Ratti Devi approached the company with the requisite documents to claim the aforesaid policy, her plea was rejected.
The insurance firm claimed that the replies filed by Singh were false as he was suffering from Tuberculosis (TB) and was undergoing treatment for the same before submitting the proposal form. The company maintained that it was misled to issue the policy and was justified in repudiating the claim.
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