Business

Pledged your life insurance policy for a bank loan? NCDRC says lender can surrender it without consent

livemint.com 01 Sep

India

Pledged your life insurance policy for a bank loan? NCDRC says lender can surrender it without consent — Sources: livemint.com

The NCDRC has ruled on a case involving an LIC policy assigned as security for a bank loan, holding that the insurer was not deficient in acting on the bank's surrender request. Here's what the order means for policyholders who use insurance policies as loan collateral.

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