- (1.) We have heard Shri Imran Syed holding brief of Shri Ravi Kant for the petitioner. Shri R.R. Agrawal appears for the Life Insurance Corporation of India (LIC). The petitioner retired serving as a Judge of this Court. He has filed this writ petition on 2.7.2010 nine years after his retirement for benefit of his son Shri Sanjeev Trivedi, who is suffering from permanent partial disability of cerebral origin quantified by medical specialists at 80%.
(2.) As a father the petitioner is concerned about the welfare and rehabilitation of his son. He was attracted by a scheme known as 'Jeevan Aadhar' of the Life Insurance Corporation of India for the benefit of handicapped dependents. On 19.1.1997 the petitioner subscribed to a policy No. 310340017 in his own name and nominated his handicapped son Shri Sanjeev Trivedi as beneficiary to get the benefits of the policy with table No. 114-99-10, of Rs. Two Lacs.
(3.) The term of the deposit of the policy is the life of the proposer (the petitioner), or 99 years. The assured has to pay only 10 instalments. In case of untimely death of the person assured, the beneficiary gets 20% of the basic sum assured in lumpsum immediately, and the balance of 80% of basic sum to be capitalised and utilised as annuity for the life of the handicapped dependent, with additions and terminal benefits. The policy is earmarked by the proposer and life assured (the petitioner), for the benefit of the handicapped dependent, who is dependent on the assured for his support or maintenance.;