LIC itself, because its agent had failed to deduct monthly
premiums and transmit them to the LIC under Salary Saving Scheme ... LIC. It was further held that in Salary Saving Scheme of LIC, when
premiums payable by employer to LIC
2008
All these policies were
subscribed under Salary Savings Scheme of the appellant LIC with
express/explicit agreement to deduct premium amounts ... which was returned as the life
assured was expired since then.
Policies under Salary Savings Scheme of LIC is a welfare scheme
husband of the complainant subscribed to the policy
under Salary Savings Scheme of the LIC, appellant w.e.f.11/06/1998 ... Shantilal Parmar with sum assured `50,000/- under Salary
Savings Scheme of the appellant LIC commencing on 11/06/1998
taken five insurance policies under Salary Saving Scheme, which was launched by
o.p.No.1 LIC. The details of the
policies ... insured and remit it to LIC. It is also obligatory on the part of LIC
to inform the insured if amount
held that for insurance policy under
salary savings scheme, the employer is agent of LIC and
hence though the policy is lapsed ... implied agent of LIC to
collect premium from it`s employees under salary savings scheme.
Thus employers act as an agent of Insurance
subscribed to the policy No. 9040467363 under
Salary Savings Scheme. Said Sadashiv
Ramchandra Koli, the life assured died on 23/02/1995. As a nominee ... provisions of Clause 14 of Policy Sevicing
Manual (Salary Savings Scheme) of opponent LIC which reads as follows :-
14. Default Intimation :-
When
Punjab Urban Planning & Development ... vs Assessee on 23 March, 2012
IN THE INCOME TAX
Bank at Nagpur.
He died on 08.08.1998. LIC had launched
Salary Saving Scheme Policy and the same was obtained by the deceased Anil ... insured is not entitled to claim the amount of policy, etc. However, she has fairly conceded that under
the Salary Saving Scheme Policy, the Bank
Respondent/original
Complainant was allowed and directions were issued to the Appellant L.I.C. to
pay the policy proceeds together with interest ... Complainant subscribed the Policy No.821255003 under Salary
Saving Scheme of the Appellant L.I.C.
The policy commenced on 28.12.1995.
The policy holder Shri
Appellant L.I.C./original Opponent preferred this appeal on the
ground that the policy was issued under the Salary Saving Scheme in the name ... deceased life assured for non-receipt of premiums as required under the
provisions of Salary Saving Scheme Manual.
All these issues are required
