Multiple choice

Assignment and transfer of insurance policies under The Insurance Act, 1938 is mentioned in section ______.

  1. 38

  2. 24

  3. 44

  4. 48

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 38 in The Insurance Act, 1938: Assignment and transfer of insurance policies— A transfer or assignment of a policy of life insurance, whether with or without consideration, may be made only by an endorsement upon the policy itself or by a separate instrument, signed in either case by the transferor or by the assignor, his duly authorised agent and attested by at least one witness, specifically setting forth the fact of transfer or assignment.