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Report No. 190 Law Commission's Suggestion in the Consultation Paper 5.1.9 The Consultation Paper followed the recommendation of the Law Commission in its 112th Report and proposed that a policy of life insurance shall not be called in question on the ground of misstatement after the expiry of three years from the date on which the policy is effected or, as it is may be, the date on which it is revived. It was accordingly proposed that section 45 of the Insurance Act, 1938 be recast as under: "(1) No policy of life insurance shall be called in question after the expiry of three years from the date on which the policy is effected or where the policy is revived after it has lapsed for any reason, from the date on which it is so revived. (2) A policy of life insurance may be called in question at any time within three years from the date on which the policy is effected or, as the case may be, the date on which it is revived, on the ground that any statement being a statement material to the expectancy of the life of the insured was incorrectly made in the proposal or other document on the basis of which the policy was issued or revived." 5.1.10 It will be noticed that this proposal was in total variance with section 45.    |
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