Once an absolute assignment is effected under a life insurance policy, who will be the titleholder(s) of this policy?

The assignor in all cases
The assignee in all cases
Either the assignor or assignee depending on the type of policy involved
The assignor and assignee jointly

LohaHridoy

7 views

2025-01-04 04:42

1 Answers

AhmedNazir

Answer: Option 2

Once an absolute assignment is effected under a life insurance policy, The assignee in all cases will be the titleholder(s) of this policy. Transfer by the holder of a life insurance policy (the assignor) of the benefits or proceeds of the policy to a lender (the assignee), as a collateral for a loan.

7 views Answered 2022-09-01 13:21

Related Questions

Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as?

1 Answers 4 Views

Which of the following types of life insurance policies pays the full sum assured to the beneficiaries if the insured dies during the policy term or to the policyholder on the maturity of the policy if he/she survives the term?

1 Answers 4 Views

As per IRDA norms, which of the following non-traditional saving life insurance products are permitted in IndiaI. Unit Linked Insurance PlanII. Variable Insurance Plan?

1 Answers 5 Views

Ajay pays insurance premium for his employees. Which of the following insurance premiums will not be treated deductible as compensation paid to an employeeI. Health insurance with benefits payable to an employeeII. Keyman life insurance with benefits payable to Ajay?

1 Answers 5 Views

Which of the following statements are falseI. Policy decisions in an insurance organization mean decisions relating to issue of specific insurance policies.II. Policy decisions in an insurance organization mean decisions relating to different kind of plans of insurance to be offered to the public.?

1 Answers 4 Views

Which of the following statements are correcti. The sum assured under group insurance is not fixed by the individual member.ii. A person whose proposal is declined under individual scheme can get insurance under group policy.?

1 Answers 5 Views

A policy taken with critical illness rider benefit is being assigned. Which type of assignment would suit the intended purpose because if the life insured is diagnosed with a critical illness, he only should receive the critical illness rider claim?

1 Answers 5 Views

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

1 Answers 6 Views

Which of the following is correct Statement A – Insurance reduces burdens Statement B – Insurance is a system of mutual support. Statement C – Insurance the only method to manage risks.?

1 Answers 8 Views

Which of the following is untrue A. Insurance promotes efficient use of existing resourcesB. Insurance contributes to healthy economy and national productivityC. Insurance policy can be used as a collateral security?

1 Answers 7 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)