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Report No. 82

6.6. Rights of survivors of nominees.-

So much as regards the merits of the proposed amendment. Let us now address ourselves to some matters of detail. Strictly speaking, the amendment that we have recommended is enough to lead to the further position that if, after the maturity of the policy and before the actual payment, the nominee or nominees dies, then the heirs of the nominee shall be entitled to the proportionate amount. However, in order to avoid doubts in future, it should also be further provided that the heirs of the nominee will in such a situation be entitled to the amount.

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

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