SC: DRT Auction Sale Valid Despite Failure to Serve Order XXI Rule 22 Notice  ||  SC: Legal Representatives Entitled to Motor Accident Compensation without Financial Dependency  ||  SC: Re-Employed Officers May be Classified Differently from Regular Officers  ||  Supreme Court Questions Union's Opposition to Global Food Package Labelling Norms  ||  SC: S.42 NDPS Act Compliance Need Not be Absolute When Immediate Seizure is Required  ||  SC Clarifies Whether Tenancy Ends after Landlord-Tenant Execute Agreement to Sell  ||  SC Levies Rs. 10 Lakh Cost on Reliance Industries for Hindering 20-Year-Old NTPC Suit  ||  P&H HC: Authorities Obligated to Act if Protests Escalate into Violence  ||  Allahabad HC: Allottee Aware of Reduced Lease Area Not Entitled to Full Zero-Period Benefit  ||  Delhi HC: 2015 Commercial Courts Act Applicable to Suits Instituted Before its Enactment    

Advance Discharge Voucher- (Insurance Regulatory and Development Authority) (12 Jul 2016)

MANU/IRDA/0023/2016

Insurance

The Insurance Regulatory Authority of India tightened instructions for life insurers that issue advance discharge vouchers.

It now requires insurers to mention particulars of the policy, including amount of claim and deductions on the voucher. Insurers are not permitted to make the advance discharge voucher conditional for releasing the policy payment. Details of payments made must be maintained with the insurer.

In what is standard practice across the insurance industry, companies often call for an advance discharge voucher-cum-receipt signed by the policyholder – as life insurance contracts offer a fixed benefit. Policyholders, by attesting the same, accept insurer’s discharge of contractual obligations.

Tags : ADVANCE DISCHARGE   LIFE INSURANCE   PAYMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved