1.

What is meant by Nomination? Who can nominate? State its importance.

Answer»

Nomination means nominating a person to receive the benefit of Life Insurance policy. It is done only by a policyholder who is a major &holding Policy Bond in his own name. Through nomination facility, the policyholder will appoint a nominee or nominees to receive the death benefit while processing a death claim. The sum assured plus the applicable bonuses will be paid along with the death claim.



Discussion

No Comment Found

Related InterviewSolutions