Question

Select the correct statement:

• A. S.45, Insurance Act applies to life insurance policies as well as Mediclaim policies
• B. 'Insurer' means only a person who is carrying on the business of insurance
• C. An assignment creates a vested right in the assignee of the insurance policy
• D. A nominee of the insurance policy gets a vested right in insurance amount of the policy

Answer 1

The Correct Option is C

The correct option is (C): An assignment creates a vested right in the assignee of the insurance policy