The Supreme Court said that insurance policy taken by parents
or guardians for disabled child should be allowed to mature after 55 years of
age of proposer According to the present rules the lump sum payment is given to
the disabled dependent only in the event of death of the guardian. The Court said
that there could be harsh cases where handicapped persons may need the payment
on annuity or lump sum basis even during the lifetime of their
parents/guardians and asked the Centre to examine the issue. The court passed
the order on a plea filed by a differently abled person Ravi Agrawal seeking
its direction to Centre and Life Insurance Policy to allow the beneficiary of
insurance of policy to withdraw amount during the lifetime of parents who have
taken Jeevan Aadhar Policy from LIC for the livelihood of their children.
Website: http://www.abhayalegalservices.com/
TIMES OF INDIA NEWSPAPER
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