Back
SANGITA DHINGRA SEHGAL, PINKI
Bajaj Allianz Life Insurance Co. Ltd. – Appellant
Versus
Sulakshana Bhattacharya – Respondent
JUDGMENT
Sangita Dhingra Sehgal, President.—The facts of the case as per the District Commission record are as under:
“This complaint has been filed with the allegation that OP-2 provided four life insurance policies of Bajaj Allianz Unit Gain Plus Gold Bearing Nos. 0107433275, 0107441257, 0107442401 and 0107444851 from their Delhi office The complainant had put forwarded a proposal for an insurance policy a Corporate Agent - to OP-3, a of OP-2, which was accepted and the above noted four policies were issued. OP-3 had been violating all the banking rules laid down by Reserve Bank of India for the purpose of achieving the targets and thereby cheating the honest and unsuspecting customers. The OP-3 with total disregard to Bank Nationalization Act of 1970 and rules laid down by IRDA sold the policies to the complainant. A total premium of Rs.1,20,000/- was paid through Cheque No. 0414967 The complainant wanted to surrender the policies but it was told by OP-1 that she will have to wait for one more year and it is only after the completion of 36 months from the date of the issuance of the policy that it can be surrendered. On 12.09 2011 she again went to the office of the OP-1 with
(1) Guaranteed Loyalty Additions (GLA) – The entitlement to GLA is not automatic upon the payment of premiums but is contractually tied to specific “insured events.”(2) Strict Construction of Insuran....
(1) Proper Authorization – Insurance Company also liable and hold that both OP-1 and OP-2 share equal responsibility for the deficiency in service and the unfair trade practice of illicitly collectin....
Suppression of material facts by an insured can render an insurance claim voidable, impacting the insurer's liability.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
