In a recent judgment, the Supreme Court said that failure on the part of a person to reveal his past history of disease is valid ground for repudiation of his insurance policy benefits, it further…

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The insurance company denied the claim saying that its investigation revealed that Gaekwad had died much before the policy was issued. He had died on April 14, 2011, at a private hospital and the policy was issued in September 2011.

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A single judge bench comprising Justice Suresh Kumar Kait direct Air Chartered Services Pvt Ltd and United India Insurance Company to pay a compensation amounting Rs. 50 lakhs in a common judgement for three write petitions.

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The four diseases are cardiac and cerebral vessel-related diseases, cancers, chronic respiratory disease and diabetes, said Zhang Yuhui of the NHC, according to a report by the Xinhua News Agency.

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With a group program, the policies are usually for five-year renewable terms. The benefits are usually tied to one year’s salary for an employee. However, employees can contribute on their own to a policy in order to increase death benefits.

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The government funded national health insurance scheme for the poor, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY), is expected to see a payout of INR23bn ($323m) this year for high value claims of over INR30,000 each.

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LIC had recorded a 6.08% growth in its total premium income at Rs. 3,37,185.40 crore in 2018-19 against Rs. 3,17,850.99 crore in 2017-18. The financial result for 2018-19 if the company’s suggests that its first year premium increased by 5.68% to Rs. 14,21,91.69 crore.

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This insurance will pay damages that the insured becomes legally obligated to pay by reason of liability imposed by law for bodily injury or property damage caused by an occurrence to which this coverage applies.

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The Central government is likely to come out with a proposal for recapitalization of loss-making public sector non-life insurance companies. The department of financial services

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The levying of an 18% tax on insurance premiums is detrimental to improving the penetration of insurance in the country and should be rolled back, said Nilesh Sathe, member (life), IRDA.

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