28 March 2018
An Insurance Policy can be taken by a breadwinner of the family under MWP Act for the benefit of the family/wife and children. Whether a Pension Policy can also be taken under MWP Act for the benefit of wife and children. The proceeds under MWP Act can not be attached and as such pension policy under MWP Act can become a property for the wife and children in case of any unforeseen circumstances. I request the legal experts to throw some light on the issuance of Pension Policy under MWP Act from the point of legal position and any judgement from the Courts and IT Tribunals on the matter.