Dear Sir/Madam,
Person A was the L.I.C agent who gained smart commission during his life time, unfortunately he passed away in a road accident in year 2012
He had a general insurance through LIC, and premium was being deducted through his commission, his commission never gone nil, had always sufficient amount for paying premium for said general insurance.
while nominee claimed for getting group insurance scheme (general insurance) amount it was told to her tat premium from last 3 years was not deducted and on this regard deceased was neither get informed nor get any notice . ( it must be noted tat prior to join L.I.C deceased had given all power to LIC fr deduction any premium through his commission) and they declined to settled the said claim.
then nominee filed a case in IGMS and due to them finally nominee got insurance amount. as an ex-Gratia amount
Nominee received Ex-Gratia payment after 3 year so my main question is tat -
A1) Is insurer liable to pay interest on delayed Ex-Gratia Payment if yes then
A2) How much interest will be paid and how will it be calculated.
If not
Then Please let me know why in this case (Ex-Gratia) insurer aint liable to pay interest on delayed payment
Thanks & Regards
