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Manoj (Vns)     27 February 2021

General query

I just want to know meaning of last line from the following paragraph of Insurance Amendement act 2015

 

(7) Subject to the other provisions of this section, where the holder of a policy of
insurance on his own life nominates his parents, or his spouse, or his children, or his
spouse and children, or any of them, the nominee or nominees shall be beneficially
entitled to the amount payable by the insurer to him or them under sub-section (6)
unless it is proved that the holder of the policy, having regard to the nature of his title
to the policy, could not have conferred any such beneficial title on the nominee. 

 

 

i want meaning of this line

"unless it is proved that the holder of the policy, having regard to the nature of his title
to the policy, could not have conferred any such beneficial title on the nominee. "



Learning

 2 Replies

P. Venu (Advocate)     28 February 2021

What are the facts? What is the context?

G.L.N. Prasad (Retired employee.)     01 March 2021

The simple meaning is the claim will be settled in favor of the nominee always, unless there is a court order or legal dispute by legitimate legal heirs.

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