Question
The holder of a policy of life insurance on his own life
may___________ nominate the person or persons to whom the money secured by the policy shall be paid in the event of his death, under the Insurance Act, 1938Solution
Explanation: Section 39 Nomination by policyholder - (1) The holder of a policy of life insurance on his own life may, when effecting the policy or at any time before the policy matures for payment, nominate the person or persons to whom the money secured by the policy shall be paid in the event of his death.
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