Question
Who can nominate the person or persons to whom the money
secured by the policy shall be paid in the event of the death of the policy holder as per the Insurance Act, 1938?Solution
Section 39 Nomination by policy-holder- (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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