Which one of the following statements is correct?

A. Maturity claim cheques are paid to the trustees in a MWP Act case

B. Maturity claim cheques are paid to the beneficiaries in a MWP Act case

C. Both the statements above are correct

D. Both the statements above are wrong

Answer: Option A

Solution(By Examveda Team)

Maturity claim cheques are paid to the trustees in a MWP Act case. “Each policy under MWP Act is considered as a separate trust automatically (there is no need to create a trust). At the time of the proposal, you have to mention the names of the beneficiaries.