#Policy Revival

Bombay HC clarifies that the 12-month suicide exclusion period under life insurance policies begins from the date of policy lapse, not revival. The ruling entitles the nominee to the full sum assured if suicide occurs beyond 12 months from lapse, even if within 12 months of revival, impacting policyholders and insurers on contract interpretation.

The Chandigarh State Consumer Commission ruled that the suicide exclusion clause in life insurance policies is triggered from the date of policy revival, not the original issuance. This decision impacts claim settlements, as insurers may now deny full payouts if suicide occurs within one year of revival, even if the policy was active for years prior.