Q. What protection does Section 45 of the Insurance Act provide to policyholders and claimants?

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Q. What must an insurance company prove to avoid liability under a life insurance policy after two years from the policy's inception?

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Q. What is the onus of proof regarding the conditions outlined in Section 45 of the Insurance Act?

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Q. What happens if a life insurance policy lapses due to non-payment of premiums and is subsequently revived?

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Q. How do life insurers treat the revival of a lapsed policy?

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Q. What changes does the Law Commission recommend regarding the repudiation of life insurance policies under Section 45?

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Q. Under the Law Commission's recommendations, in what instances can an insurer repudiate a policy before the expiry of five years?

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Q. Under what circumstances can an insurer repudiate a policy of life insurance before the expiry of five years?

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Q. What happens if a life insurance policy is repudiated due to the insured making a misstatement or suppressing a material fact?

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Q. How is the materiality of a misstatement or suppression of fact determined?

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Q. What happens if the insured can prove that a suppression or misstatement of a material fact was true to the best of their knowledge?

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Q. Who is considered the agent of the insurers for the formation of the contract?

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Q. What obligation does the insurer have if they decide to repudiate a policy based on misstatement or suppression of a material fact?

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Q. In the United Kingdom, how do courts address claims in cases where the doctrine of uberrima fides is strictly adhered to?

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Q. In Australia, under what circumstances can a policy be avoided based on incorrect statements made by the insured?

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Q. How do "Incontestable Clauses" function in the United States insurance policies?

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Q. When can an insurer in the United States challenge a claim based on the policy's incontestable clause?

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Q. According to Section 64VB of the Insurance Act, 1938, when can an insurer assume a risk in India?

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Q. How does Section 64VB specify the timeline for assuming a risk when the premium is tendered by postal money order or cheque sent by post?

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Q. How must any refund of premium due to an insured be paid according to Section 64VB?

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