Q. When is a nomination effectual?

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Q. In what manner can a nomination be done?

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Q. When will a nomination be automatically cancelled?

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Q. Can a nomination be made in favor of a minor?

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Q. When can a nomination be changed?

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Q. What happens if a stranger is named as a nominee?

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Q. When is there normally no need for nomination in a joint life policy?

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Q. What is the purpose of nomination under the insurance law?

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Q. What distinction does the Law Commission recommend in Section 39?

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Q. According to the Law Commission's recommendations, what option should be given to the policyholder regarding the nominee?

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Q. What proviso does the Law Commission recommend adding to Section 39?

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Q. What is prohibited under Section 41 of the Insurance Act, 1938?

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Q. Under what circumstances is an insurance agent allowed to accept commission on a policy taken out by himself?

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Q. What is the penalty for non-compliance with the provisions of Section 41?

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Q. Under Section 45 of the Insurance Act, 1938, within what time frame can an insurer call into question the accuracy of statements made in a life insurance policy proposal?

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Q. Under what conditions can an insurer challenge the accuracy of statements made in a life insurance proposal according to Section 45?

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Q. What action can an insurer take if it is discovered that the age of the insured was incorrectly stated in the proposal?

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Q. What protection does Section 45 of the Insurance Act provide to policyholders and claimants?

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Q. What must an insurance company prove to avoid liability under a life insurance policy after two years from the policy's inception?

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Q. What is the onus of proof regarding the conditions outlined in Section 45 of the Insurance Act?

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