Section 39 of IA : Section 39: Nomination By Policy-Holder
IA
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Explanation using Example
Imagine John, a 40-year-old software engineer, purchases a life insurance policy. He wants to ensure that in the event of his untimely death, his wife, Mary, receives the money to support herself and their children. John uses Section 39 of the Insurance Act, 1938, to nominate Mary as the beneficiary of his life insurance policy.
John fills out the nomination form provided by his insurer and submits it, making the nominat...
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