Amendment in Sec 45 of Insurance Act, 2015
As per Section 45 of the Insurance Amendment Act 2015, IndusInd Life Insurance Company (the Company) would forfeit the entire premium paid by a policy holder in the event the Company identifies any active and deliberate concealment of a material fact by the policy holder and / or in the event the insurance policy is obtained from IndusInd Nippon Life Insurance Company in a fraudulent manner.
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