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Insurance Policy claim

(Querist) 05 February 2009 This query is : Resolved 
Dear Sirs/Ma'am

Please appreciate this

Our client has insurance policy of Rs.1,00,000=00. After its maturity the same policy renewed for Rs. 1,25,000=00.
What will be our client’s position?
1. Whether our client will be entitled to get Rs. 1,25,000=00
2. Ins.Co.’s bounden duty to pay insurance claim Of Rs.1,00,000=00 only to our client .
3. Or according to the Insurance Provision the said Policy will be considered as a New
Policy.

Please guide us the points of defence also and what we should appreciate in favour of our client i.e. applicant.

Thanks in anticipation of ur valuable advice.
Hiren Modi. (Expert) 06 February 2009
hello...REKHA.

i think your suitable legal answere is going to be, no.(3)

main police for rs.1,00,000-/- is going to be matured. and after that period of maturity your have entitled to get Rs.1,25,000-/- as per your contract.

after passing that period the same will be renued for Rs.1,25,000-/-. & that's your new contract with insurance company. your main policy amount will be increased for Rs.25000-/-.

now your client make a new contract with the insurance co. hence insurance co. is liable to pay more maturity amount.
Hiren Modi. (Expert) 06 February 2009


RAKHI BUDHIRAJA ADVOCATE (Expert) 10 February 2009
Mr. Hiren Modi is absolutely right.
SANJAY DIXIT (Expert) 12 March 2009
I agree with the views made by Hiren. No doubt it will be a new contract.


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