The National Consumer Disputes Redressal Commission (NCDRC) has directed IRDA to look into the role of an agent selling life insurance policies. Further, it may revise the proposal forms with the issuance of fresh instructions to bring to the notice of the customers that non-disclosure of medical conditions will result in rejection of the insurance claim.
On the appeal of HDFC Standard Life Insurance Company Limited, a bench of Dr. SM Kantikar and Member Binoy Kumar in its judgment observed that this would go a long way in saving the life assured from unnecessary mental agony and expenses. In this appeal, the order of the Jaipur-based State Consumer Disputes Redressal Commission was challenged, in which the decision was given in favor of the consumer. The Apex Consumer Commission said that in this case, suppression of facts in the proposal form has vitiated the case of the complainant.
Complainant's Appeal
The complainant in his allegation said that the agent of the insurance company completely misled him while filling up his proposal form. Along with this, he had got him signed in the blank space without filling the complete form by taking him into confidence.
Insurance company argument
The insurance company had contended that the person concerned (deceased) obtained the life insurance policy by hiding information about his ailments. He was suffering from ailments since 2008.
The counsel for the respondent/complainant said the insurance company failed to prove that the diseases played a role in the death of the insured. Therefore, there was no ground for rejecting the claim.
Advice to issue new instructions on agent's responsibilities
The NCDRC set aside the order of the State Consumer Disputes Redressal Commission, allowing the appeal. It also advised the Insurance Regulatory and Development Authority of India (IRDA) to issue new guidelines on the conduct and responsibilities of agents while making life insurance policies.
It should be mentioned in the instructions that the agent should ask the customer to disclose all the diseases while filling out the proposal form. State what will be the consequences in case of non-disclosure of diseases? The proposal form can also be modified suitably.
Defense Minister said: India has never been a supporter of war and violence, it is not our nature to remain neutral on injustice
India neither harms others nor spares troublemakers. India has never been in favor of war and violence. However, it cannot remain neutral towards injustice and oppression. It is not in our nature to
Heeraben Passed Away: Worked in other's homes, lived a simple life... this is the identity of PM Modi's mother Heeraba
Prime Minister Narendra Modi's mother Heeraba Modi passed away on Friday. When the marriage took place, Hiraben's age was only 15-16 years. Due to the weak economy and the family condition of the
NEET PG 2021: Demand for special counseling rejected in Supreme Court, said- Compromising on quality of medical education is not right
Supreme Court on NEET PG 2021: Supreme Court has rejected the demand for a special Stray Vacancy round of counseling to fill up 1,456 seats in NEET-PG-21 which were vacant after conducting one round
Dream Girl 2 Twitter Review: 'Pooja is back..', read the public review before watching Ayushmann's Dream Girl 2
Ayushmann Khurrana is one of the finest actors in Hindi cinema. In the world of cinema, he is known for making films on social issues. Many of his films have been liked by the audience. Ever since the
Ladli Bahna Yojana: CM Shivraj put money in the account of 1.25 crore sisters, and said - the amount will be increased further
Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Monday transferred funds to the bank accounts of 1.25 crore beneficiaries under the 'Mukhyamantri Ladli Bahna Yojana'. For this, the Chief
PM Modi On America Allegations: 'We will look into...', PM Modi's statement on the Pannu murder case surfaced for the first time
PM Modi On America Allegations: Indian Prime Minister Narendra Modi interviewed with the Financial Times on Wednesday. During this, PM Modi, while responding to the allegations of conspiracy to murder
‘RCB has won the IPL…' Former star cricketer made a prediction; There was a stir in the cricket world.
Former South African fast bowler Dale Steyn has made a big and shocking prediction regarding IPL 2025. He has written on his X (formerly Twitter) that "Can you believe it? RCB has won the IPL." After
VVS Laxman and Daniel Vitari were elected to the ICC Men's Cricket Committee, got this important responsibility
Former Indian batsman and National Cricket Academy (NCA) chief VVS Laxman has been elected the current player representative in the ICC Men's Cricket Committee. Apart from Laxman, former New Zealand
Rahul Dravid in Bollywood: 'Which actor would you like to see in your biopic?' Dravid gave a funny answer, know
Rahul Dravid, who led the Indian team to win the T20 World Cup under his coaching, is spending quality time with his family away from cricket these days. However, he is seen in some award functions in
Opposition uproar in both houses of Parliament: Rajya Sabha adjourned 3 times; Opposition walks out of Lok Sabha over rising petrol prices
The proceedings of the winter session of the Parliament started on Thursday also due to the ruckus of the opposition. Rajya Sabha had to be adjourned 3 times. Congress MP Manish Tewari gave an
