Section 38 of IA : Section 38: Assignment And Transfer Of Insurance Policies

IA

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Explanation using Example

Example Application of Section 38 of The Insurance Act, 1938:

Mr. Sharma has a life insurance policy with XYZ Insurance Company. He is in urgent need of funds and decides to borrow money from his friend, Mr. Gupta. As collateral for the loan, Mr. Sharma wants to assign his life insurance policy to Mr. Gupta.

Following the provisions of Section 38, Mr. Sh...

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Explanation using Example

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