Insurance – Material fact – Concealment – Misstatement by itself is not material for repudiation of the policy unless the same is material in nature.

P.C. Chacko & Anr. Vs. Chairman, Life Insurance Corporation of India and Others (2008) 1 SCC 321, Honble Apex Court observed as under:

Misstatement by itself is not material for repudiation of the policy unless the same is material in nature. But, a deliberate wrong answer which has a great bearing on the contract of insurance, if discovered may lead to the policy being vitiated in law. The purpose for taking a policy of insurance is not very material. It may serve the purpose of social security but then the same should not be obtained with a fraudulent act by the insured. Proposal can be repudiated if a fraudulent act is discovered.