Supreme Court · 2005 INSC 335 · Decided 5 August 2005
Life Insurance Corporation of India v. Mani Ram
- Court
- Supreme Court of India
- Citation
- 2005 INSC 335 · [2005] SUPP. 2 S.C.R. 342
- Case number
- CIVIL APPEAL No. 4806/2005
- Decided
- 5 August 2005
- Bench
- R.C. LAHOTI, C.K. THAKKER, P.K. BALASUBRAMANYAN (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Consumer Protection Act Section 12
Headnote
Life Insurance-Grace period for payment of premium allowed as per terms of policy-However, insured making payment thereof after expiry of that period-Effect of-Held: There was no subsisting policy on date of death of insured and Insurance Company was justified in rejecting the claim of insured Protection Act, 1986 alleging that his son had been insured withthe appellant-insurance company on August 21, 1995 and premium amount was paid on the same day. His next installment was due on August 21, 1996. The insured however died in an accident on August 2, 1996, Respondent accordingly
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