Legal Documents Library

NOTICE OF ASSIGNMENT OF LIFE INSURANCE POLICY

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Date .........................

TO,

The Manager,

Life Insurance of India,

.......................

Re: Assignment of Policy No. .......................

Dear Sir,

I, the undersigned, A, etc. hereby give you notice that Shri ............ has assigned the policy of Life Insurance effected by him with your branch for the sum of Rs. ....................... on ....................... with number ....................... to me absolutely by a deed of assignment dated

INSURANCE CLAIM NOTICE

Date :

To _______________

_______________

_______________

Dear _______________

You are hereby notified that I have incurred a loss which I believe is covered by my insurance policy detailed below. Details of the loss are as follows:

1. Type of loss or claim: _______________

2. Date and time incurred: _______________ _______________

3. Location: _______________

4. Estimated loss: _______________

Please forward a claim form to me as soon a possible.

Yours

ASSIGNMENT OF POLICY OF LIFE INSURANCE

THIS ASSIGNMENT made at ____________on this ____________day of 20 ?between A son of Shri ____________resident of ____________(hereinafter called "the Assignor") of the ONE PART and B son of Shri .......... resident of ____________..hereinafter called "the Assignee") of the OTHER PART.

WHEREAS

(1) [P1] By a policy of Life Insurance issued by- the Life Insurance Corporation of India ____________office , ____________being No ____________dated, the ____________           on the life of assignor, the sum of Rs ____________is assured to be Policy paid on ____________            maturity or to his nominee, heirs, executors, administrators, legal, representatives or assigns after his death, subject to payment of the annual premium

ASSIGNMENT OF POLICY OF LIFE INSURANCE FOR LOVE AND AFFECTION

THIS ASSIGNMENT made at ____________on this ____________day of ____________ 20 ____________

between A son of Shri  ____________resident of ____________(hereinafter called the Assignor) of ONE PART and Mrs. B wife of Shri A ..... resident of  ____________  (hereinafter called the Assignee) of the OTHER PART.

WHEREAS

(1) [P1] The assignor is insured with the Life Insurance Corporation of India ____________under being No ____________dated ____________for a sum of a policy of   to be paid to the assignor on maturity or to his nominee, heirs,   executors, administrators or assigns after his death.

(2) [P2] The assignor has paid all the premium up

SUIT FOR ACCOUNT BY AN INSURANCE AGENT AGAINST A COMPANY

IN THE COURT OF THE....................

Suit No..................... of 19....................

C. D.................................................................... Plaintiff

versus 

C. F................................................................. Defendant

The abovenamed plaintiff most respectfully submits as under: ?

1. That the plaintiff was appointed by the defendant Company as their Insurance Agent for the District of.................... The defendant Company agreed to pay the plaintiff a commission @.................... per cent on all the premia to be paid on the policies to be effected through the plaintiff.

2. That the plaintiff acted in pursuance of the agreement dated..................... from that date to.................... and introduced the policies described in the Schedule annexed to the plaint.

3. That the defendant Company paid to the plaintiff during the aforesaid period only a sum of Rs..................... on account of commission; but has not rendered any account of premia on the policies detailed in the Schedule annexed hereto, even at the demand made by the plaintiff through a registered notice..................... received by the defendant on.....................

4. That the plaintiff is not aware of the policies lapsed, matured or forfeited, and as such is ignorant as to how much money is due to him as commission under the agreement referred to above.

5. That the cause of action arose on.................... 19.................... within the jurisdiction of this Court when the defendant company received the notice of demand of the plaintiff, but did not render account.

6. That the suit is valued at Rs......................................... an approximate insurance commission due after deduction of Rs..................... already received by the plaintiff from the defendant company and the court fees is paid according to the reliefs claimed.

RELIEFS CLAIMED:

The reliefs claimed by way of this suit are:

(1) To have full and true account. of the moneys realised by the defendant company as premia on the policies detailed in the Schedule and of the commission due to the plaintiff.

(2) Payment of the sum found to be due to the plaintiff after deduction of Rs..................... already received by the plaintiff from the defendant Company;

(3) Costs of the suit to the plaintiff.

Plaintiff 

Through

Advocate 

VERIFICATION

I, abovenamed plaintiff, do hereby verify that the contents of paras .................... to.................... of the plaint are true to my personal knowledge and those of paras.................... and.................... thereof are based on legal advice which I believe to be true.

Verified on this................. day of.................... 19.................... at....................

Plaintiff

CASE LAW 

Section 216

The commission agent need not disclose name of firm from which he had purchased the goods but he cannot supply goods at a particular rate.1

PRINCIPAL?S RIGHT TO BENEFIT GAINED BY AGENT DEALING ON HIS OWN ACCOUNT IN BUSINESS OF AGENCY.

No agent in the course of agency can make profit without the knowledge of his principal.2

Where an agent by utilising money of his principal makes profit he cannot treat