RELIANCE LIFE INSURANCE COMPANY LTD vs JAYA WADHWANI

The Supreme Court addressed the effective date of an insurance policy in relation to claims made after the assured's death by suicide. It held that the date of commencement of the policy is determined by the date of issuance of the initial deposit receipt, as per Clause 9 of the policy terms, which states that claims are not payable if the assured commits suicide within 12 months from the policy's issuance or reinstatement. The court affirmed the decisions of the lower forums, ruling that the appellant is liable to pay the sum assured, as the suicide occurred within the specified period.