.Do LIC of india have a law to make more than one nominee in one policy.......so does it has any law for two nominees in one policy .......????
arvind kumar saxena (advocate) 24 March 2012
.Do LIC of india have a law to make more than one nominee in one policy.......so does it has any law for two nominees in one policy .......????
Kumar Doab (FIN) 24 March 2012
The customer can appoint any number of nominees and their share. If the space for writing the names/address/relationship etc of nominees in proposal form is not sufficient separate page can be attached.
As per IRDA guidelines & Protection of Policy holder’s interest, a copy of proposal form received from customer is to be supplied to the customer as a part of the policy document.
arvind kumar saxena (advocate) 29 March 2012
thnx for this solution but in which act its written about it ............
Kumar Doab (FIN) 29 March 2012
Sec.39,
THS INSURANCE ACT, 1938
Any O/o LIC could guide you on this.In case any issue you can approach CRM section.
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