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CR341 Lapsing Life assured not having paid a premium for the month in which he died

CR341 Lapsing Life assured not having paid a premium for the month in which he died – 30 day grace period running during that month – was the insurer’s decision to decline the claim justified? Background 1. The deceased had by telesale purchased life cover under a policy which commenced on 1 May 2007 and […]

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CR328 Lapsing

CR328 Lapsing Whether insurer’s conduct in having accepted late premiums in an earlier period, and in accepting arrangements to pay arrears, indicated a waiver of its right to regard the policy as having automatically lapsed according to its terms – onus on complainant to prove conduct showing unequivocal intention to waive, and consistent with no […]

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CR255 Lapsing of policy – complainant repeatedly having failed to pay premiums

CR255 Lapsing of policy – complainant repeatedly having failed to pay premiums – insurer always accepting double premiums thereafter – insurer held to have waived lapsing provision. Background The complainant complained that her policy, a dependant care plan, had been cancelled by the insurer in 2007 due to unpaid premiums. She stated that, after the […]

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CR253 Lapsing of policy – implications of acceptance of late payment.

CR253 Lapsing of policy – implications of acceptance of late payment. Background More than eight months after the lapsing of a policy in terms of the policy provisions, the spouse of the policyholder, who was also the beneficiary in terms of the lapsed contract, deposited an amount in respect of the arrear premiums in the […]

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CR203 Payment – debit order not activated due to capturing error on part of insurer – policy lapsed

CR203 Payment – debit order not activated due to capturing error on part of insurer – policy lapsed Background During 2004 the complainant applied telephonically for a policy which provided, inter alia, cover for himself and his wife for death as a result of an accident. The policyholder’s wife died on 7 July 2005 due […]

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CR105 Lapsing – Whole life policy made paid-up for reduced benefits

CR105 Lapsing – Whole life policy made paid-up for reduced benefits – policy kept in force until funds in the accumulation account were depleted – policy lapsed – complainant expected paid-up value to increase with bonuses Background The insured effected a whole life policy during 1987 and during 1992 the premium and cover were increased […]

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CR103 Lapsing – interpretation – life insured no longer eligible

CR103 Lapsing – interpretation – life insured no longer eligible – reinstatement with full cover. Background The complainant took out a policy with X company in 2000. Her father was one of the life assured. The policy provided that premiums were payable monthly or annually in advance and that if payments were not made within […]

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