Multiple choice

Which of the following statements is/are true with regard to MWP Act cases?

Statement I: Maturity claim cheques are paid to policyholder. Statement II: Maturity claim cheques are paid to trustee.

  1. I is true.

  2. II is true.

  3. Both I and II are true.

  4. Neither I nor II is true.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Correct Answer: II is true. Under MWP Act, in case of a death claim, the policy proceeds are received by the trust and cannot be claimed by the debtors nor will it form part of the estate of the proposer. Hence, the welfare/the wife/child/children are protected with utmost care.

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