consumer

Ashu (Querist) 26 September 2009 This query is : Resolved
can any insured person get back the policy amount after three years even after policy lapsed due to non payment of premium .....if any can you suggest me any supreme court judgment

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Bhumik Dave (Expert) 27 September 2009
Generally it's not possible because in policy agreement insurance company has mention many conditions and person has duly accepted with his signed. It's my opinion let us see what other expert says.

Adinath@Avinash Patil (Expert) 27 September 2009
In my opinion insured person get back what premium amount you paid not full but some deduction.you may apply to insurance company ot get back what premium amount you paid with some deduction.
you go through your insurance policy you will ruls for same.

Sarvesh Kumar Sharma Advocate (Expert) 27 September 2009
sir,it's not possible.

adv. rajeev ( rajoo ) (Expert) 27 September 2009
Dear Member,
I have come across with the one rulinng of Karnataka High court. Immediately after getting that I will reply u again

Sachin Bhatia (Expert) 27 September 2009
In my opinion it is depend upon the terms & conditions mention in the policy agreement. Go through your insurance policy you will find some terms and conditions for the same.

Raj Kumar Makkad (Expert) 27 September 2009
All Insurance companies have framed this condition common that if policy lapsed due to non-deposit of consecutive 2 installment, the policyholder shall lose all deposits. So in your case it is not possible to get refund of deposited amount at any cost with framework of law/agreement.

Guest (Expert) 27 September 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

REGARDING THE AMOUNT OF POLICY KINDLY NOTE THAT
1 YOU MAY SUBMIT AN APPLICATION TO THE GENERAL MANAGER, OF THE INSURENCE COMPANY AND MENTION ALL FACTS AND HARDSHIPS FACED BY THE POLICY HOLDER AND PRAY FOR REFUND OF THE AMOUNT.
2.IN CASE THE CLAIM IS CONSIDERED AS PER RULES THEN MATTER ENDS. THEY MAY SEND YOU OPTION TO REVIVE THE LAPSED POLICY .KINDLY NOTE THAT INSURENCE POLICY IS TO PROTECT YOUR FAMILY MEMBERS FROM SUDDEN HAPPENING OF ANY UNEXPECTED ACCIDENT OR DEATH OF POLICY HOLDER. HENCE IF POSSIBLE YOU MAY REVIVE THE POLCY AS PER RULES OF SAID INSURANCE COMPANY.
3.BUT IN CASE YOU DO NOT AGREE THEN YOU MAY FILE A COMPLAINT AT CONSUMER COURT AND SUBMIT YOUR CLAIM.IT WILL COST YOU MUCH LESS AS COMPARED TO CIVIL SUIT IN CIVIL COURTS.PLEASE NOTE.
IN CASE YOU NEED ANY FURTHER INFORMATION OR HELP KINDLY SEND DETAILS
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE.

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