ISLAMABAD: Pakistani President Dr. Arif Alvi has ordered State Life Insurance Corporation to compensate policyholders' families.
President Dr. Arif Alvi has ordered State Life Insurance Corporation of Pakistan (SLICP) to pay Rs 1.78 million to the family members of the policyholders after rejecting four identical submissions made by SLICP against the rulings of Wafaqi Mohtasib, according to a statement released on Tuesday.
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He claimed that SLICP engaged in bad administration by failing to pay claimants their dues.When granting the life insurance policies for deceased policyholders, the President rejected SLICP's arguments, stating that they had been unable to provide solid proof of the existence of the purported pre-insurance diseases.
The President said that the SLICP did not take into account the reports of its own Field Officers, who had deemed the covered individuals to be in perfect health, when it filed appeals.
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The denial of life insurance claims in the absence of unquestionable proof, he continued, was very unjustified and revealed mismanagement on the side of the SLICP.The President ruled that in each of the four cases, SLICP had failed to provide any clinical evidence or diagnostic analysis to support the claim that the deceased policyholders actually suffered one of several diseases.
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All four of his arguments were rejected, and he gave SLICP 30 days to report any compliance to the Mohtasib. The complainants (Ms. Irshad Bibi, Ms. Samreen Aasima, Muhammad Awais, and Muhammad Ismail), according to information, had contacted SLICP to request payment of the sum insured as per the insurance policies.
By claiming that the deceased policyholders had pre-insurance conditions including tuberculosis, cystic bronchiectasis, kidney disease, or lung disease, SLICP refused to pay the claims.which they knowingly concealed when buying the insurance.
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The complainants independently sought the Wafaqi Mohtasib to request compensation after feeling wronged, and it granted their requests. Later, SLICP submitted objections to the Mohtasib's rulings to the President, but these were also dismissed.
This Is State Life Insurance
