Section 45 states: No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.
Indian Evidence Act provides for presumption of death in person missing cases, if he/she has not been heard of for seven years.
Customer lifetime value may be defined as the sum of economic benefits that can be derived from building a sound relationship with a customer over a long period of time.
IRDAI has launched an Integrated Grievance Management System (IGMS) which acts as a central repository of insurance grievance data and as a tool for monitoring grievance redress in the industry.
Consumer Protection Act - District Forum - entertain complaints up to Rs. 20 lakhs, State Forum - exceeds 20 Lakhs upto 100 Lakhs, National Commission - exceeds 100 Lakhs
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