The National Commission had decided that disputes pertaining to unit-linked insurance plans (Ulips) would not fall within the ambit of the Consumer Protection Act since the units are investments made in the stock market and traded for speculative gains. However, in an important ruling recently, the National Commission has now distinguished that its interpretation would not apply in the case of a death benefit claim under the same policy.
Paramjit Kaur's husband, Balbir Singh, had taken a Ulip from MetLife Insurance. The policy, which was issued on February 20, 2008, was to mature after a period of 20 years. The sum
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
