Which of the below statement is incorrect with regards to assignment of an insurance policy?

A. In case of Absolute Assignment, in the event of death of the assignee, the title of the policy would pass to the estate of the deceased assignee

B. The assignment of a life insurance policy implies the act of transferring the rights right, title and interest in the policy (as property) from one person to another

C. It is necessary that the policyholder must give notice of assignment to the insurer

D. In case of Absolute Assignment, the policy vests absolutely with the assignee till maturity, except in case of death of the insured during the policy tenure, wherein the policy reverts back to the ben

Answer: Option D

Solution(By Examveda Team)

In case of Absolute Assignment, the policy vests absolutely with the assignee till maturity, except in case of death of the insured during the policy tenure, wherein the policy reverts back to the ben is incorrect with regards to assignment of an insurance policy.