Question
According to the Insurance Act, 1938 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
Solution
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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