.jpeg)
Supreme Court gave instructions to insurance companies, said- give complete information about the policy to the customers
Insurance: The Supreme Court has said in one of its judgments that just as the insured person has to disclose all relevant facts about himself, similarly the insurance companies also have a statutory obligation not to conceal any details about the insurance. Without giving complete information to the insured about the terms and conditions of the policy.
The Supreme Court has said in one of its judgments that just as the insured person must disclose all relevant facts about himself, similarly insurance companies also have a statutory obligation to disclose information to the insured without hiding any details about the insurance. Provide complete information about the terms and conditions of the policy.
A bench of Justices BV Nagarathna and Augustine George Masih said in a judgment, "Just as it is the duty of the insured to disclose all material facts about himself, the insurer also must inform the customer about the terms and conditions of the policy." They should strictly adhere to the information given in the offer form or prospectus or as stated by their agents."
The complainant Mahakali Sujata's life insurance claim was ordered to be paid by the Supreme Court to Future General India Life Insurance Company Limited. The only legitimate heir of the insured S Venkateshwarlu is Sujatha. Death came to S Venkateshwarlu in February 2011.
Although the verdict did not specify what the company had concealed, the firm contended that Venkateshwarlu had failed to disclose that he had obtained policies from various companies.
