Q355
Which one of the following statements is correct?
A.
Assignee is free from the assignor’s obligations under the policy
B.
A nomination is automatically cancelled when a loan is taken under the policy
C.
Both the statements above are correct
D.
None of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Both the statements are incorrect. Assignee is not free from the assignor’s obligations under the policy. A nomination is not cancelled when a loan is taken under the policy.