Insurance Policy claim

Rekha..... (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.

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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.