CONSUMER EDUCATION AND RESEARCH CENTRE, AHMEDABAD, AND ORS. Vs. LIFE INSURANCE CORPORATION OF INDIA AND ORS.

JUDGEMENT

(1.) The petitioners, by this petition under Article 226 of the Constitution of India, have challenged the legality and validity of the Term Assurance Policy (Table No. 58) of the respondent-Life Insurance Corporation of India. The said plan or LIC Policy is impugned on the ground that it is discriminatory, arbitrary and offending to Article 14 of the Constitution of India. Petitioners have also sought a writ of mandamus or any other appropriate writ, direction or order directing the respondent-Corporation to introduce guaranteed renewable term insurance policy for all the citizens of India at all insurable ages for the term in multiples of five and ten years and also to introduce level premium term insurance policy for all citizens of India for the term of 10, 15 and 20 years. The petitioners have also sought a declaration that Section 49(2)(j) of the Life Insurance Corporation Act, 1956 (hereinafter referred to as the "Act") is invalid, void and unconstitutional as it confers absolute discreation not to issue the low cost policies suitable to the pockets of the consumers nor does it provide all types of risk covers.

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