policy bearing no.390260828, for the assured sum of ₹1,00,000/- was to mature on 31/07/2000. The first premium on the aforesaid policies was paid on 25/03/1994 and 25/08/1995 respectively. The initial payments of premium were made regularly. However, policy no.2 lapsed w.e.f. January 1998 and policy no.1 lapsed from February 1998 due to nonpayment of premium. Thereafter, as per a proposal made by the assured to the Insurance Corporation for revival of the lapsed policies, the policies were revived w.e.f.10/11/1998 after complying with all the requirements and formalities prescribed to the satisfaction of the Insurance Corporation. The assured thereafter, paid the prescribed premium for revival and had been paying the subsequent premiums as per schedule. The assured passed away on 08/04/1999 due to lung cancer, which was detected only in March 1999. The liability of the Insurance Corporation under a policy of life insurance is a statutory liability and hence on the death of the assured during the currency of a viable policy, his nominee or legal representatives are entitled to get the death claim under the policy. After the death of the assured, the first plaintiff preferred separate claims before the Insurance Corporation. However, by letter dated 29/09/1999, the Insurance Corporation has taken a stand that the plaintiffs are entitled to get only the paid-up value of
