Life Insurance Corporation Of India vs Jaya Chandel

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission, affirming that the insurance policy was revived under Section 64-VB of the Insurance Act, 1938, as the premium was tendered within the grace period. The Court clarified that the timing of the cheque's receipt does not negate the revival of the policy, emphasizing that the risk can be assumed from the date the cheque is posted. The appeal was dismissed, confirming that the claim should not have been repudiated based on the arguments presented by the appellant.