Insurance
Naresh Kudal
(Querist) 09 May 2016
This query is : Resolved
A life insurance policy was taken by 'A' with double accidental benefit. An accident took place on 12-12-2014 (on the date policy was lapsed due to non payment of premium), premium was deposited on 15-12-2014 and 'A' died due to accident wounds on 20-12-2014.
LIC paid the sum assured with bonus but denied to pay double accident benefit as policy was not enforced on the date of accident.
Can anybody share any citation clarifying the situation....
Kumar Doab
(Expert) 09 May 2016
Usually there is grace period of 15/30 days in insurance contract during which policy shall remain in force.
However the condition being specified by you is for Double accident benefit.
GO thru T&C of the policy.
No citation available.
If required consult an able counsel specializing in insurance/consumer matters.
adv. rajeev ( rajoo )
(Expert) 09 May 2016
I agree with Kumar. Death is due to accidental injuries, only there is a delay of 3 days and more over amount is accepted by the insurance co., when it is accepted it is binding on the insurance co., and policy is renewed.It's my opinion.
Naresh Kudal
(Querist) 10 May 2016
Any citation related to the matter?
Rajendra K Goyal
(Expert) 10 May 2016
Judgment / reference cases / ruling / citation / decided cases not supplied in this section.
P. Venu
(Expert) 10 May 2016
Renewal reinstate the policy from the day of its inception.Moreover, it is an absurd proposition to state that the policy, though still in force was not in force on a day in between.
Kumar Doab
(Expert) 10 May 2016
How are you related with the matter.
Sudhir Kumar, Advocate 
(Expert) 10 May 2016
