30 days in case of yearly, half yearly and quarterly <br /> premium policy, the policy lapses.. If the policy has<br /> not lapsed and claim is admitted in case of death <br /> under a policy where the mode of payment of <br /> premium is other than yearly, unpaid premiums,<br /> if any falling due before the next policy anniversary<br /> shall be deducted from the claim of amount. <br /> However, as per clause No.3 "<br /> " if the policy has lapsed it may be revived<br /> during the life time of the life assured, but within a <br /> period of five years from the date of first unpaid<br /> premiums and before the date of maturity,<br /> on submission of proof of continued insurability<br /> to the satisfaction of the corporation and payment <br /> of all the arrears of premium together with interest <br /> at such rate as may be fixed by the Corporation from <br /> time to time "<br /> Therefore, considering the facts situation about non payment of premium within stipulated period and also period of grace, insurance policy Ex.R1 has lapsed<br /> 8. Counsel for the complainant has contended that even reduced paid up value was not paid to the claimant uptill now. Insurance Company took false plea in para-3 of the written statement that complainant received a sum of Rs.11950/- vide cheque No. 718302 dated 2/4/08 being paid up value of the insurance claim/policy in dispute to which she was entitled under the terms and conditions of the insurance policy, so claim has not been repudiated as alleged, rather claim for reduced paid up value was paid to the complainant . Today counsel for opposite party has tendered cheque No. 250584 dated 20/8/08 for the amount of Rs.11950/- to the complainant Gurbachan Kaur accepted by her under protest. Therefore, the Manager (Claims) S.L.Dhupar has also made wrong version in the affidavit Ex.RA that paid up value of the policy had been received. LIC opposite party is therefore, definitely guilty of deficiency in service to that extent. Had LIC paid the due amount ( which is now paid before this Forum ) to the claimant well in time they would not have felt aggrieved and pursued their claim by way of litigation. Therefore, finding reprehensible conduct and false plea about payment of due amount to the complainant before filing of this complaint , we award monetary compensation to the extent of Rs.10000/- to the complainant for causing mental agony and physical sufferings.<br /> In the ultimate analysis of aforesaid discussion, we partly accept the complaint and order opposite party LIC to pay Rs.10000/- as monetary compensation to the complainant i.e. for herself and on behalf of her son and daughter for causing mental agony and physical sufferings. on account of deficiency in service besides Rs.1000/- as cost of litigation within one month from the receipt of copy of this order.<br /> Let certified copies of judgment rendered be supplied/despatched to the parties without an7y unnecessary delay and thereafter file be consigned to record room.<br /> <br /> Announced : ( Surinder Mittal ) ( A.K. Sharma )<br /> 21.8.2008 Member President.