Question

What provision is made for minor nominees under Section 39?

a.

They must wait until they reach the age of majority to receive the benefits.

b.

They are automatically excluded from receiving any benefits.

c.

The policyholder can appoint someone to receive the benefits on behalf of the minor nominee.

d.

They must provide written consent to receive the benefits.

Posted under IC 14 Regulations of Insurance Business

Answer: (c).The policyholder can appoint someone to receive the benefits on behalf of the minor nominee. Explanation:If any nominee is a minor, the policyholder can appoint in the prescribed manner any person to receive the money secured by the policy in the event of his death during the minority of the nominee.

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Q. What provision is made for minor nominees under Section 39?
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