https://www.taxtmi.com/caselaws?id=448268 The SC held that the effective date of a life insurance policy is the date of policy issuance, not the proposal date or receipt date. In this case, the assured's suicide occurred on the last day of the 12-month period from policy issuance, falling within the exclusion period. The Court emphasized that merely tendering a cheque for premium payment is insufficient until encashed, as the contract only becomes effective upon actual policy issuance. The SC set aside orders from District Forum, State Commission, and National Commission, rejecting the respondent's claim and allowing the insurer's appeal. en-us Wed, 03 Jan 2024 00:00:00 +0530 Mon, 15 Jan 2024 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448268 The SC held that the effective date of a life insurance policy is the date of policy issuance, not the proposal date or receipt date. In this case, the assured's suicide occurred on the last day of the 12-month period from policy issuance, falling within the exclusion period. The Court emphasized that merely tendering a cheque for premium payment is insufficient until encashed, as the contract only becomes effective upon actual policy issuance. The SC set aside orders from District Forum, State Commission, and National Commission, rejecting the respondent's claim and allowing the insurer's appeal. Case-Laws Indian Laws Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448268