Query on Section.45 of Insurance Act
Dear
Members
I want to take ICICI Cancer & Heart Policy health product offered by ICICI Prudential Life insurance .
My query is whether Section 45 of insurance act applies to the health products offered by Life Insurance companies?
Very interesting question indeed. Checked the policy brochure of the product from their website & it clearly mentions " Treatment will be as per section 45 of the insurance act 1938 as amended from time to time'.
Dear Ashok
As mentioned in literature ,section 45 would apply because this is along term contract and not one year contract .
Dear Ashok
As per section 45 , insurer can not question the disclosures given at the time of proposal hence they can not reject claim on basis of non disclosure .
But there are many cases where company reject claim and insured have to take legal route where insured will get justice .
Dear Ashok,
Sec-45 of Insurance Act 1938 pertains to only life insurance.
Regards
Asad Akbar