Sec. 64-VB Compliance (Premium Realisation Before Loss)
Sec. 64-VB Compliance (Premium Realisation Before Loss). The statutory requirement under Sec. Policy wording, surveyor verdict and related endorsements. — DigiSurvey.
What it covers क्या कवर होता है
The statutory requirement under Sec. 64-VB of the Insurance Act, 1938 that the premium for the policy must be realised by the insurer BEFORE the risk commences — otherwise the policy is void and no claim is payable.
बीमा अधिनियम, 1938 की धारा 64-VB का वैधानिक नियम — पॉलिसी का premium बीमा कंपनी द्वारा जोख़िम शुरू होने से पहले realised होना ज़रूरी, वरना पॉलिसी void है और कोई claim देय नहीं।
Surveyor's verdict / key conditions सर्वेयर की जाँच
Verify FROM the premium receipt: (i) date and time of premium realisation (not just date of policy issue), (ii) mode — online / UPI / cheque / cash. Online / UPI realisation is instant; cheque realisation is on the date of cheque CLEARANCE (not deposit date) and if the cheque later bounced, the policy is void from inception. Cash is realisation on date. If DOL is BEFORE the realisation timestamp, flag as prima-facie 64-VB non-compliance and refer for a legal opinion before admitting. For bank-financed vehicles, the dealer / financier's premium receipt is the primary evidence.
premium receipt से verify करें — (i) premium realisation की date और समय (सिर्फ़ policy issue की तारीख़ नहीं), (ii) mode — online/UPI/cheque/cash। online/UPI तुरंत realised; cheque की realisation CLEARANCE की तारीख़ पर (deposit की नहीं) और अगर cheque बाद में bounce हुआ तो पॉलिसी inception से void। cash की realisation तारीख़ पर। अगर DOL realisation timestamp से पहले है — prima-facie 64-VB non-compliance flag करें और admit करने से पहले legal opinion लें। bank-financed गाड़ियों में dealer/financier की premium receipt प्राथमिक सबूत।
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