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...even before the payment of premiums due, the policy will still be valid. The condition no.2 reads as under :- Payment of premiums: a grace period of one month but not less than 30 days will be allowed...for payment of yearly, half yearly or quarterly premiums and 15 days, for monthly premiums. If death occurs within this period and before the payment of premiums then due , then policy will still be...valid and the sum assured paid after deduction of the said premium as also the unpaid premiums falling due before the next anniversary of the policy. No doubt, the premium was paid after the accident...

...India (“LIC” for short) while paying the reduced sum payable by treating it as a paid-up policy, is liable to pay interest in regard to premiums paid from the respective dates of payment of premiums to...herein) made a claim for payment of the amount under the policy, by letter dated 1-1-1998.3. Condition 4 of the policy contains the exceptions to lapsing of the policy. The portion of the said condition relevant for our purpose, is extracted below:“4. Non-forfeiture regulations.—If, after at least three full years' premiums have...paid by LIC is not refund of premiums, the question of treating the amount paid by LIC as refund of premiums paid and then directing payment of interest thereon from the respective dates of payment of premium does not arise. That would amount to treating the premiums paid...

...as all these policies were in lapsed condition on date of death of this life assured duet to non-payment of premiums effective from December 1996. Complainant declined to accept the offer of appellant...salary and remitted to appellant w.e.f. December 1996, therefore, claim of the complainant was not payable except to the extent of paid up value as all these policies were lapsed due to non-payment of premiums at...the time of death of the life assured 3 on 02/07/1997. In absence of non-receipt of premiums from employer respondent No.5 life assured was duty bound to remit the same to appellant as per authorization submitted by deceased life assured and therefore appellant LIC cannot be faulted with for non-receipt of premiums, as no efforts were made by deceased life assured to ensure deduction/payment of...

...undertaking letter of the policyholder Amaranna fixes the responsibility of payment of premiums amount on him, hence the policies of said Amaranna lapsed. The complainant not filed required documents...policies are in lapsed condition for non payment of premiums of those policies for the month of March & April 2003 and September & October 2006. The complainant has not noticed as to how these..., even though those three policies are in lapsed condition for non payment of four monthly premiums. 9. The learned advocate for opposite submitted before us that as per the personal agreement and...

.... 330263175 and 330542639 without penalty, interest and any other charges for delay in payment of premiums and pay a sum of Rs. 50,000/- as compensation on account of harassment and mental agony , Rs...330542639 without penalty, interest and any other charges for delay in payment of premiums and pay a sum of Rs. 50,000/- as compensation on account of harassment and mental agony, Rs. 40,000/- for...of five years from the date of unpaid premiums and on payment of the premiumsalongwith late fee, other charges and submission of proof of continued insurability to the satisfaction of opposite party no.1 subject to medical examination. But the complainant and his wife neither got themselves medically examined nor paid the due premiums with...

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...) you furnish, at your own expense, satisfactory evidence of health as required by Us.c) The arrears of Premiums together with interest at such rate as We may charge for late payment of premiums are... A Policy which has lapsed for non-payment of premium within the grace period may be revived subject to underwriting and the following conditioins:a) The application for...paid.d) The revival of the Policy may be on terms different from those applicable to the Policy before it lapsed for example, extra mortality premiums or charges may be applicable subject to our Board...

...business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, and any contract which is subject to payment of premiums for...insurance business” means the business of effecting contracts of insurance upon human life, including any contract whereby the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, and any contract which is subject to payment of premiums for...contemplates payment of premiums by insured for a specified period or until his death within such period and for payment by insurer on the death of the insured.The...

...order to successfully maintain the claim for benefit under the insurance policies, it is necessary for the policy to have been kept alive by punctual payment of premiums until the claim was made. The...had lapsed for non-payment of premium. On 29-6-1996, the respondent approached the LIC for release of benefits under the policy proceeding on an assumption that Sham Prakash was dead as having not...to be kept in force by making payment of premium regularly.”4. The respondent approached the State Commission constituted under the Jammu and Kashmir Consumer...

... after imposition of country wide lockdown he could not make the payment of premiums and the policy stands lapsed. Now complainant has filed this complaint to refund the deposited...was paid for a year, but due to imposition of country wide lockdown to curtail the covid-19 pandemic, the complainant could not pay the subsequent premiums. In view of...premium amount of Rs.45,000/- with interest. Learned counsel for opposite party argued that as per terms and conditions of the policy, the surrender is defined in the regulations...

... after imposition of country wide lockdown he could not make the payment of premiums and the policy stands lapsed. Now complainant has filed this complaint to refund the deposited...was paid for a year, but due to imposition of country wide lockdown to curtail the covid-19 pandemic, the complainant could not pay the subsequent premiums. In view of...premium amount of Rs.45,000/- with interest. Learned counsel for opposite party argued that as per terms and conditions of the policy, the surrender is defined in the regulations...

...@ 18% per annum from the date of surrender of policy in 2009 till the date of payment and also to pay Rs.50,000/- towards damages and costs. 2. The case of the complainant as set out in the complaint in brief is that she subscribed to the Mahalife Policy of the opposite party on 13.11.2004 and paid premiums @ Rs..., stopped payment of the premiums thereafter, in view of personal and financial problems. She requested the opposite party to close the policy and return the amount paid by her towards premiums on...dated 25.05.2017 admitting the payment of premiums by the complainant in 2008. They also reminded the complainant with regard to the renewal of the policy. But, the fact is that she did not receive...

...@ 18% per annum from the date of surrender of policy in 2009 till the date of payment and also to pay Rs.50,000/- towards damages and costs. 2. The case of the complainant as set out in the complaint in brief is that she subscribed to the Mahalife Policy of the opposite party on 13.11.2004 and paid premiums @ Rs..., stopped payment of the premiums thereafter, in view of personal and financial problems. She requested the opposite party to close the policy and return the amount paid by her towards premiums on...dated 25.05.2017 admitting the payment of premiums by the complainant in 2008. They also reminded the complainant with regard to the renewal of the policy. But, the fact is that she did not receive...

...purpose of payment of premiums and losses, the gross invoice value of the shipments invoiced in a foreign currency shall be converted into Indian rupee at the bank buying rate of exchange at Mumbai on the...calculated on the basis of conversion rate of 11,875.75 Euros as on 24-4-2002 and the interest calculated thereon. The appellant/decree-holders while accepting the said payment disputed that the...payment satisfied the decree, mainly on the plea that value of the Euros payable should have been calculated on the conversion rate applicable on the date of payment.9. The...

...that cc no.-33 of 2018 anything is payable to complainant on account of insurance policy in question and reiterated the same pleadings taken in preliminary objections that due to gap in payment of premiums, policy...is a gap in payment of premiums and policy issued to her husband is in lapsed mode. There are four gaps in payment of premiums and as per Claims Manual Provisions, complainant is not entitled to...deducting the premiums from his salary and deposited with the OPs. If there is any gap in the deposit of premiums then, Ops should have to inform regarding it to father of complainant and his employer before receiving the subsequent premiums but in the present case, as per Ops, there is gap in the payment of...

...due to gap in payment of premiums, policy in question is in lapsed mode and therefore, complainant is not entitled for any claim under this Policy. It is further averred that there is no deficiency...his salary. On the other hand plea taken by Ops is that there is a gap in payment of premiums and policy issued to her husband is in lapsed mode. There are four gaps in payment of premiums and as per...per scheme, every month employer of Ved Parkash DLA kept deducting the premiums from his salary and deposited with the Ops. If there is any gap in the deposit of premiums then, Ops should have to inform regarding it to complainant and his employer before receiving the subsequent premiums but in the present case, as per Ops, there is gap in the payment of...

...documents on record, relates to 5 insurance policies stood in the names of the Appellants. The case of the Appellants is that, they requested their bankers to facilitate payment of premiums in respect of...Respondents submitted that the subject policies attained lapsed status for non-payment of 1 premiums in time. Heard both sides in...First Appeal No. A/855/2018 ( Date of Filing : 05 Oct 2018 ) (Arisen out of Order Dated 17/09/2018 in Case No. Complaint Case No. CC/39/2017 of District Hooghly...

...issued by the opposite party on 2-9-2006 and the complainant is regular in payment of periodical premiums of the said policy through cheques and bank drafts and while the periodical premium for the.... From these material it remains clear that the due premium under the Ex.A1 policy was sent by the complainant vide cheques and the said amount was paid . When such is the thing as to the payment of the premiums of...thereafter requesting for payment of premiums in arrears for the months commencing from September 2007 till April, 2008 amounting to Rs.16,000/-, especially when the cheque bearing No. 493673 dated 3-9...