A typo is set to cost the Life Insurance Corporation (LIC) of India Rs 35.52 lakh.
The National Consumer Disputes Redressal Commission (NCDRC) last week upheld an order issued by the Maharashtra State Consumer Commission, directing the public sector insurance company to pay Cumbala Hill resident Deepak Kothari Rs 26.92 lakh with interest at the rate of 9% per annum from March 2015, as maturity amount.
In 2004, Kothari had taken a policy from the Surat branch of LIC. The policy matured in March 2015, but LIC refused to pay the Rs 25 lakh, and instead offered Rs 3.94 lakh — death benefit under the policy — coupled with loyalty addition of Rs 1.67 lakh.
