Firm told to clear outstanding dues of housing loan

  • | Monday | 9th December, 2019

Tribune News ServiceAmritsar, December 8The District Consumer Disputes Redressal Forum has directed an insurance company to clear the outstanding housing loan dues of the deceased, who had got it covered from the insurance company in eventuality of death. The forum has also directed the PNB Metlife Insurance Company to pay Rs 7,500 as compensation and Rs 5,000 as litigation expenses to the deceased’s widow. Earlier, Deepa Arora, a resident of Fatehgarh Churian Road, had filed a complaint against Punjab National Bank and PNB Metlife India Insurance Company stating that his husband had taken housing term loan of Rs 8 lakh. When the complainant claimed the amount covered under the policy from the opposite parties and to clear the outstanding housing loan amount by submitting death certificate, the opposite parties did not settle the outstanding loan amount. The PNB Metlife Insurance in its reply stated that insurance policy was issued on the basis of information provided by the deceased life assured in the proposal form.

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