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AVM J. RAJENDRA
Isnaka Devasenamma W/o. Late Venku Reddy – Appellant
Versus
Max Life Insurance Company Limited – Respondent
ORDER
The present First Appeal has been filed under Section 19 of the Consumer Protection Act, 1986 (“the Act”) against the Order dated 25.07.2022 passed by the State Consumer Disputes Redressal Commission, A.P., Vijayawada (“the State Commission”), in CC No. 1 of 2020 wherein the State Commission dismissed the Complaint.
2. For Convenience, the parties in the present matter being referred to as mentioned in the Complaint before the State Commission. “Isnaka Devasenamma” is identified as the Complainant (Appellant herein) is the wife and nominee of Venku Reddy (Deceased Life Assured- DLA). Meanwhile, “M/s. Max Life Insurance Company Limited” is referred to as the Opposite Parties No.1&2/Respondents No.1&2/Insurer and Axis Bank Ltd is referred to as the Opposite Party No.3/Respondent No.3.
3. Brief facts of the case, as per the Complainant, are that the OP-1 Max Life Insurance Company Ltd and its 2nd Branch Office/OP-2 issued a life insurance policy to Venku Reddy, referred to as the life assured, under Policy No. 35003246, for Rs.45,00,000/- as sum assured. The OP-3 bank, sanctioned a loan of Rs.45,00,000/- to the life assured with an interest rate of 10.5%. The life assured was re
(1) Contract of Insurance – A contract of insurance is one of utmost good faith. A proposer who seeks to obtain a policy of life insurance is duty bound to disclose all material facts bearing upon th....
(1) The “Three-Year Rule” (Section 45) – Under the amended Section 45, a policy cannot be questioned after three years from issuance or risk commencement on any ground.(2) Agent’s Responsibility – Th....
Life Insurance Policy – Repudiation of death claim on the ground of suppression of material facts – Mere existence of past medical records is insufficient unless knowledge on part of insured is prove....
Insurance – Repudiation of death claim – If insured had not been found to be medically deficient as on date of proposal form then question of any allegation about past disease has to be viewed accord....
(1) Full Knowledge – DLA had the full knowledge of pre-existing ailments at the time of filling the proposal form and there was a nexus with preexisting disease and the cause(s) of death.(2) Proposal....
(1) Proposal form – In filling up the proposal form, the agent normally, ceases to act as agent of the insurer but becomes the agent of the insured and no agent can be assumed to have authority from ....
(1) Contract of Insurance – The contract of insurance is liable to be avoided, as the DLA intentionally failed to bring on record his medical history.(2) Repudiation of insurance claim of the individ....
(1) Policy was obtained by concealment of material fact; hence, insurance contract became void ab initio in terms of the declaration signed by the insured, not a valid contract.(2) Finding of materia....
Insurance—Repudiation of death claim on the ground of concealment of disease must be supported with reliable and cogent evidence.
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