Report No. 82
Effect of Nomination under Section 39, Insurance Act, 1938
| Contents |
| Chapter 1 |
Introductory |
| 1.1 |
Scope of the Report |
| 2. |
Multiple parties |
| 3 |
Assignment of benefits-Various modes |
| 4. |
Assignment under section 38, Insurance Act, 1938 |
| 5. |
Declaration under section 6, Married Women's Property Act, 1874 |
| 6. |
Nomination under section 39, Insurance Act, 1978 |
| 7. |
Problem for consideration relating to the effect of nomination |
| Chapter 2 |
Present Law and Earlier Position |
| I. |
The Statutory Provision |
| 2.1. |
Section 39, Insurance Act |
| II. |
The Case Law |
| 2. |
Section 39(6), Insurance Act |
| 3. |
Andhra view |
| 4. |
Gujarat view |
| 5. |
Calcutta view |
| 6. |
Karnataka, Kerala and Orissa view |
| 7,8. |
Allahabad view |
| 9. |
Later Allahabad Case |
| 10,11,12,13. |
Rights of nominee according to Allahabad view |
| III. |
The Conflict |
| 14. |
The Conflict |
| 15. |
Position in England |
| IV. |
Earlier Position |
| 16,17. |
Petition before 1938 |
| 18. |
Approach adopted by each High Court |
| 19. |
Nature of the pre-1938 approach |
| 20. |
View of Shri Sen |
| 21. |
Material in the debates |
| Chapter 3 |
The Aspect of Social Justice |
| 3.1. |
Fulfillment of legitimate expectations and position of near relatives |
| 2. |
Social justice |
| 3. |
Scope of near relatives |
| 4. |
Position of married women |
| 5. |
Provisions for widow |
| 6. |
Speech of Mr. Hobhouse |
| 7. |
"Will substitute" |
| 8. |
Reform suggested in one article |
| 9. |
Need for change in the law |
| Chapter 4 |
Legislative Precedents |
| 4.1. |
Legislative precedents |
| 2. |
Provident Funds Act |
| 3. |
Case law on Provident Funds Act |
| 4. |
Case law on Provident Funds Act |
| 5. |
Government Savings Bank Act |
| 6. |
Other precedents |
| Chapter 5 |
English and American Law |
| I. |
English La.- General Position |
| 5.1. |
Assumption as to position in England and observations relating thereto |
| 2. |
Statutory framework and its background |
| II. |
Friendly Societies in English Law |
| 3. |
Friendly societies |
| 4. |
Case law on Friendly Societies Act in England |
| 5. |
Effect of nomination |
| 6. |
English case of purchase in the name of another |
| III. |
American La.- Position In General |
| 7. |
Position in U.S.A |
| 8. |
Position of beneficiary |
| 9. |
Classes of beneficiaries-The Primary Beneficiary |
| 10. |
Death of beneficiary |
| 11. |
Contingent beneficiary |
| 12. |
Settlement agreement-successor payee |
| IV. |
American La.- Position Under Statutory Schemes |
| 13. |
Statutory scheme-National Service Life Insurance |
| 14. |
Right of designated beneficiary |
| 15 |
Assignment |
| Chapter 6 |
Recommendation |
| 6.1. |
Desirability of amendment |
| 2. |
Considerations of social justice |
| 3. |
Assignment not a satisfactory mode in all cases |
| 4,5. |
Near relatives-The English approach as to near relatives |
| 6. |
Rights of survivors of nominees |
| 7. |
Rights of nominee not to be higher than those of the person making nomination |
| 8. |
Testamentary disposition |
| 9. |
Rights of nominees inter se |
| 10. |
Recommendation to revise section 39, Insurance Act, 1938 by inserting new sub-sections |
| 11. |
Section 39(7), Insurance Act, 1938-Nomination and Trust |
| 12. |
Section 39(7)-Position of children |
| 13. |
Section 33A-Insertion of note in every policy |
| 14. |
Expression "beneficially entitled" and analogous expressions |
| Appendix |
Select List of Statutory and other Reference using The Pression "Beneficially Entitled" or Comparable Phraseology |
