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1997 Supreme(Bom) 184

S.S.CHADHA, R.THAMARAJAKSHI, C.L.CHAUDHRY, V.BALAKRISHNA ERADI, S.P.BAGLA
Life Insurance Corporation of India – Appellant
Versus
Ramesh Chandra – Respondent


JUDGMENT - S.S. CHADHA, MEMBER:---This Revision petition has arisen out of the order dated 22-7-96 passed by the Madhya Pradesh State Commission at Bhopal dismissing the appeal and upholding the order dated 29-11-95 of the District Forum- Dewas allowing the complaint and directing the Life Insurance Corporation of India- Opposite party, (for short called L.I.C.) to pay Rs. 50,000/- in (sic to) the complainant within two months from 29-11-95 and also pay Rs. 150/- as costs of the case.

2.The facts are not in dispute and may be briefly noticed. The complainant had taken a life insurance Policy No. 34180460 commencing from 27th March, 1993, for Rs. 50,000/- under 15 years money back policy with profit (with accident benefit). Under the terms of the policy, the sum assured together with accrued bonus was payable on death before the stipulated date of maturity and in case of survival, 25% of the sum assured was payable after 5 years, another 25% after 10 years and the remaining 50% of the sum assured with accrued bonus on the stipulated date of maturity. Besides, the life assured was entitled to accidental benefits/disability benefits on account of accident vide Clause 10 of the policy.















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