Insurance Claim–Policy commenced on 28.09.2012–Next premium was to be paid on 28.09.2013–It was not paid till the last date of the grace period–Policy stood lapsed but the next premium was paid on 25.02.2014 and it was reinstated–Life assured committed suicide on 03.06.2014 which was well within 12 months–Once it is mentioned in the policy that the 12 month’s period is to commence from the date of issuance of the policy, or the date of reinstatement of a lapsed policy, the reinstatement aspect ought to have been considered.
