Supreme Court · 2019 INSC 328 · Decided 7 March 2019
Anandrao Ramchandra Salunke v. Life Insurance Corporation of India & ANR.
- Court
- Supreme Court of India
- Citation
- 2019 INSC 328 · [2019] 5 S.C.R. 210
- Case number
- CIVIL APPEAL No. 2568/2019
- Decided
- 7 March 2019
- Bench
- D.Y. CHANDRACHUD, HEMANT GUPTA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Insurance Act, 1938 - s.113 - Life Insurance Policies - "Surrender Value"- Appellant obtained life insurance policy in November, 1993 - Sum insured was Rs.75,000/- - Term of the policy was twenty five years - Policy of quarterly premium of Rs 775/-, spread over hundred quarters during the term of the policy - Last premium was payable in August, 2018 and the policy was to mature in November, 2018 - In 2001, the appellant took loan of Rs.15,000/- by pledging the policy - In August, 2001 the
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