Q680
A policy is affected under the MWP Act. If the policyholder does not appoint a special trustee to receive and administer the benefits under the policy, the sum secured under the policy become payable to the _________
A.
Next of kin
B.
Official trustee of the State
AnswerC.
Insurer
D.
Insured
Answer: Option B
Solution
Answer: Option B
Solution:
A policy is affected under the MWP Act. If the policyholder does not appoint a special trustee to receive and administer the benefits under the policy, the sum secured under the policy become payable to the Official trustee of the State.