Insurer's Blind Spot: Life Insurance Corporation's Reckless Denials Exposed The National Consumer Disputes Redressal Commission (NCDRC) recently ordered Life Insurance Corporation of India (LIC) to pay Rs 60 lakh cumulatively to a Mumbai woman, highlighting egregious lapses in insurance companies' risk assessment and claims handling processes.
This case, spanning over a decade, reveals how LIC's bureaucratic blunders and questionable underwriting standards can leave families financially devastated.
A key aspect of this case is the insurer's relentless pursuit of a technicality – the timing of premium payments.