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Articles 676 views May 6, 2021
Life insurance provides financial security to your family in case of your death. But to avail this benefit of life insurance, you need to appoint a person who would receive the same. It is important to appoint/update the nominee under the policy to avoid disputes. A nominee can be anyone to whom you want to give a valid discharge of the policy benefits in case of your death during the policy term. As per Section 39 of the Insurance Act 1938, as amended by the Insurance Act, 2015, you may nominate the person or persons to whom you want to make the nominee. Read this page further and know the details of section 39 of the insurance act.