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Report No. 82

III. American La.- Position In General

5.7. Position in U.S.A.-

The practice in the United States seems to be to allow the insured person (in life insurance) to "designate" a beneficiary.1 Assignment of the policy is also permissible.2 The expression "nomination" is not, however, generally used in legal parlance in this context in the U.S.3

1. Paras. 5.8 to 5.14, infra.

2. Para. 5.15, infra.

3. For general discussion, see encyclopaedia of the Social Sciences (1967), Vol. 7, pp. 107- 108, "Insurance".



Effect of Nomination under Section 39 of the Insurance Act, 1938 Back




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