President asks insurance company to pay Rs 1.2 million to the widow of policyholder

President asks insurance company to pay Rs 1.2 million to the widow of policyholder

President Dr Arif Alvi has asked Jubilee Life Insurance Co. Ltd to pay Rs 1.2 million to the widow of a deceased policyholder. The company had ignored the payment of Rs 1.2 million as the unit price of the policy and simply returned an amount of Rs. 4.5 million, deposited by her late husband as premium, to the widow.  Mst. Iffat Naheed (the complainant) had filed a representation with the President against the order of the Federal Insurance Ombudsman (FIO) which had ordered the case to be closed as the…

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