In so far policy loans are concerned, which one of the following is correct?

A. The policy has to be assigned in favour of the insurer

B. Such an assignment will not cancel the nomination already made

C. Both A & B

D. None of the above

Answer: Option C

Solution(By Examveda Team)

Both the statements are correct.
The policy has to be assigned in favour of the insurer and such an assignment will not cancel the nomination already made.