The National Consumer Disputes Redressal Commission (NCDRC) bench comprising J. Rajendra (Presiding Member) allowed a revision petition filed by the Life Insurance Corporation of India (LIC). The NCDRC held that there is a need to strictly adhere to the policy’s terms and conditions. According to its ruling, if the policy lapsed due to non-payment of premiums at the time of the accident, the claimants would not be entitled to the amount, even if the policy was subsequently revived…
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Insurance Company Not Obligated to Reimburse Claims for Accidents During Inactive Policy Phase, Even After Subsequent Revival Of Policy: NCDRC
