V.K. Jain, Presiding Member—Late Sh. Loveleen Gupta, son of the complainant/petitioner took a loan of Rs. 76 lakhs from the respondent No. 3, Indiabulls Financial Services Ltd. The financier made a deduction towards payment of the premium, which was paid to ICICI Lombard GIC Ltd. for taking an insurance cover in the name of the borrower Mr. Loveleen Gupta. The coverage of the insurance taken in the name of the insured, Mr. Loveleen Gupta, was as under:—

No. Coverage Sum Insured

Section Insured Even Applicable

I Major Medical Illness & Procedures a) Diagnosis of the following Illnesses, namely: List of covered illnesses: Cancer, End Stage Renal Failure, Multiple Sclerosis

b) Undergoing of the following surgical procedures: 2,082,118

List of covered procedures: Major Organ Transplant, Heart Valve Replacement or Coronary Artery Bypass Graft.

c) Occurrence of the following Medical Events:

List of covered events: Stroke, Paralysis and Myocardial Infarction

II Personal Accident a) Death of the Insured on account of an Accident;

b) Permanent Total Disablement of the Insured on account of Accident;

III Loss of Job (Only for Salaried) Loss of employment of the