What is Assignment and Nomination in Life Insurance?

April 3, 2023 ⚊ 1 Min read ⚊ Views 70 ⚊ BLOG

‘Assignment’ and ‘Nomination’ are two most common terms used in a life insurance policy document Let us understand the importance of these two terms in detail.On the other hand, assignment protects the interests of an assignee in availing the monetary benefits under the policy. The policyholder should be aware of both of them before buying life insurance.
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