Back
INDER JIT SINGH, SUDHIR KUMAR JAIN
Rajkumari Patel – Appellant
Versus
ICICI Prudential Life Insurance Company Limited – Respondent
ORDER :
Dr. Sudhir Kumar Jain, J.—Briefly stated relevant facts as per the complaint are that Late Jagdish Patel (hereinafter referred to as “the insured”) who was husband of the appellant no.1/the complainant no.1/Rajkumari Patel and father of the appellants no 2 to 5/the complainants no 2 to 5 (hereinafter referred to as “the appellants”) took a loan of Rs.30,00,000/- from the respondent no. 2/the opposite party no. 2/Chola Mandalam Investment & Finance Company Limited (hereinafter referred to as “the respondent no 2”) during his lifetime vide loan account number HE01DHT00000030231. The insured to secure the said loan procured insurance policy bearing policy number 61249366 with coverage period from 03.09.2022 to 03.09.2025 from the respondent no.1/opposite party no.1/ICICI Prudential Life Insurance Company Limited (hereinafter referred to as “the respondent no 1”) through the respondent no. 2. The insured paid single premium amounting to Rs.54,757/- with ICICI Pru Policy No D-6690809. The insured during the subsistence of the policy passed away on 17.02.2023 due to brain haemorrhage. The outstanding loan amount was to be paid by the respondent no 1 to the respondent no 2 as per t
(1) The Principle of Uberrima Fides (Utmost Good Faith) – The Commission reiterated that the relationship between an insurer and the insured is founded on mutual trust. The insured is under a “solemn....
(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....
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....
1) Per Sec. 45 of Insurance Act, claim can be repudiated, if it is proved that the assured knowingly and fraudulently suppressed the material facts.2) Contractual duty so imposed on the Insured is su....
The duty of the insured to disclose all material facts at the time of obtaining an insurance policy, the significance of material facts in influencing the decision of a prudent insurer, and the conse....
Point of Law : No fault can be found with the repudiation and the order of Ombudsman affirming the said repudiation and disallowing the claim. [Para 13]
(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 – 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....
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
