Permanent Lok Adalat, Coimbatore orders insurance firm to pay ₹10.29 lakh to wife of deceased borrower
The Hindu
The Permanent Lok Adalat in Coimbatore, on Monday, ordered an insurance firm to pay ₹10.29 lakh to a woman so that she could close the loan availed by her deceased husband in 2018. N. Umarani, chairma
The Permanent Lok Adalat in Coimbatore, on Monday, ordered an insurance firm to pay ₹10.29 lakh to a woman so that she could close the loan availed by her deceased husband in 2018. N. Umarani, chairman of the Permanent Lok Adalat, Coimbatore, also ordered the insurance firm to pay ₹50,000 as compensation to the woman.
Sources said that Santhoshkumar from Ottarpalayam, who worked with the Indian Oil Corporation, had availed of a loan of ₹ 10 lakh from a private bank in January 2018. The loan had an insurance coverage which was offered by the insurance wing of the same bank. The monthly repayment against the loan was stalled after Santhoshkumar died in November 2019. His wife Suganya approached the Permanent Lok Adalat after the bank allegedly demanded she close the loan by making complete payment and the insurance firm did not process the insurance coverage.
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