Question:
Select the correct statement:
Select the correct statement:
Updated On: Aug 5, 2024
- S.45, Insurance Act applies to life insurance policies as well as Mediclaim policies
- 'Insurer' means only a person who is carrying on the business of insurance
- An assignment creates a vested right in the assignee of the insurance policy
- A nominee of the insurance policy gets a vested right in insurance amount of the policy
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The Correct Option is C
Solution and Explanation
The correct option is (C): An assignment creates a vested right in the assignee of the insurance policy
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