Rohit proposed to purchase Life Insurance Policy (Unit Linked) from XYZ Insurance Co. Ltd. The company asked him to get his medical done for which expenses were borne by the proposed insurer. After receiving the medical

CS Professional · Insurance - Law and Practice · PYQS · December 2021
Rohit proposed to purchase Life Insurance Policy (Unit Linked) from XYZ Insurance Co. Ltd. The company asked him to get his medical done for which expenses were borne by the proposed insurer. After receiving the medical reports, the insurer accepted the proposal and consequently the policy documents issued. Policy documents contained some wrong information like the name of insured, date of birth, details of the riders attaching to the property. Rohit got annoyed and decided to cancel the policy and claim the refund of premium paid by him. List the rules of Interpretation of a policy.

Answer & Explanation:

The following rules of Interpretation of a policy are applied: Printed and written portion of the policy is to be construed together as far as possible. In case of contradiction, the written portion over-rides the printed portion. The policy is to be interpreted as a whole. The words in the policy are to be given their plain, ordinary and popular meaning. Technical words are to be given their strict technical meaning. The ordinary rules of grammar shall apply.

Topics: Life Insurance

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