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This question belongs to Commerce Insurance

Insurance

?

Which one of the following statements is correct?

A) Assignee is free from the assignor’s obligations under the policy B) A nomination is automatically cancelled when a loan is taken under the policy C) Both the statements above are correct D) None of the above

Answer & Solution

Correct Answer: Option D

Both the statements are incorrect.
Assignee is not free from the assignor’s obligations under the policy. A nomination is not cancelled when a loan is taken under the policy.

Question posted by Examveda

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