[amp_mcq option1=”Policy Numbermination is not cancelled if the policy is assigned to the insurer in return for a loan” option2=”Nomination can be done at the time of policy purchase or subsequently” option3=”Nomination can be changed by making an endorsement in the policy” option4=”A nominee has full rights on the whole of the claim” correct=”option4″]<\/p>\n
The correct answer is D. A nominee has full rights on the whole of the claim.<\/p>\n
A nominee is a person who is named in a life insurance policy to receive the benefits of the policy in the event of the policyholder’s death. The nominee does not have to be a beneficiary of the policy, and they do not have to be related to the policyholder.<\/p>\n
The nominee’s rights are limited to the benefits of the policy. They do not have any rights to the policyholder’s assets, and they cannot make any decisions about the policy.<\/p>\n
The policyholder can change the nominee at any time by making an endorsement to the policy. The nominee can also be removed from the policy by the policyholder.<\/p>\n
If the policyholder dies without naming a nominee, the benefits of the policy will be paid to the policyholder’s estate.<\/p>\n
Here is a brief explanation of each option:<\/p>\n
[amp_mcq option1=”Policy Numbermination is not cancelled if the policy is assigned to the insurer in return for a loan” option2=”Nomination can be done at the time of policy purchase or subsequently” option3=”Nomination can be changed by making an endorsement in the policy” option4=”A nominee has full rights on the whole of the claim” correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32279","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"\n