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This question belongs to Commerce Insurance

Insurance

?

State the correct option?

A) In a MWP Act policy claim moneys can be paid to a near relative of the assured B) Policy claim moneys can be paid to the assured in a maturity claim C) Policy claim money can be paid only to the named trustee as the policy is a separate trust D) Death claim may be paid to the nominee in a WWP Policy

Answer & Solution

Correct Answer: Option C

Policy claim money can be paid only to the named trustee as the policy is a separate trust. When the trust takes out a policy, please make sure it has a separate bank account to pay premiums and receive benefits.

Question posted by Examveda

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