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This question belongs to Commerce Insurance

Insurance

?

Pick out the correct ones.

A) Nomination can be changed at will by the assured during the course of the policy B) Assignment can also be changed at will by the assured without referring to the assignee C) Witness for an assignment is not mandatorily required D) Like nomination, assignment can also be effected in the proposal

Answer & Solution

Correct Answer: Option A

Nomination can be changed at will by the assured during the course of the policy. There is no limit on how many times a nominee can be changed during the term of a particular policy though some companies may charge money for nomination change.

Question posted by Examveda

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