Pay Rs 75 lakh as promised, court directs insurance company

The district consumer court here has directed an insurance company to pay Rs 75 lakh as was promised to the policyholder.

Venkatesh, a resident of Dalasagere in Hoskote taluk in Bengaluru rural district, had bought a policy from Max Life Insurance company in 2020. He had paid Rs 44,402 annual premium. The company had assured to pay Rs 75 lakh after expiry of the policy or in the event of death of the policy holder.

A few days after paying the first annual premium, Venkatesh passed away. Sushma, Venkatesh's wife, submitted all documents to the company to claim the money, but the company refused to disburse, prompting her to move the court.

The court directed the company to pay Rs 75 lakh within 45 days with 6% annual interest from the day of the judgement till payment of money. The court also slapped a fine of Rs 2,000 on the company.

C Krishnamurthy pleaded on behalf of Sushma.