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Question

In the context of insurance policies, who does the term "policy-holder" include as per the Insurance Act?

A Only the original purchaser of the insurance policy Correct Answer Incorrect Answer
B Only the person to whom the policy-holder's interest is assigned Correct Answer Incorrect Answer
C Any person to whom the policy-holder's interest is assigned once and for all Correct Answer Incorrect Answer
D Only an assignee with a defeasible interest Correct Answer Incorrect Answer
E Both the original purchaser and any assignee with a defeasible interest Correct Answer Incorrect Answer

Solution

Section 2 Definitions: (2) policy-holder includes a person to whom the whole of the interest of the policy-holder in the policy is assigned once and for all, but does not include an assignee thereof whose interest in the policy is defeasible or is for the time being subject to any condition.

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