Which of the below statement is incorrect with regards to a policy against which a loan has been taken from the insurance company?

Which of the below statement is incorrect with regards to a policy against which a loan has been taken from the insurance company? Correct Answer The nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company

The nomination of such policy will get cancelled due to assignment of the policy in favour of the insurance company is incorrect with regards to a policy against which a loan has been taken from the insurance company.
Bissoy MCQ

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