Section 38 - Assignment and Transfer of Insurance Policies
Assignment or transfer of a policy should be in accordance with Section38 of the Insurance Act, 1938 as amended from time to time. The extant provisions in this regard are as follows: . This policy may be transferred/assigned, wholly or in part, with or without consideration.
§ 38.2-3337. Assignment - Virginia Law
§ 38.2-3337. Assignment. With mutual agreement among the insured, the policyholder, and the insurer, any person insured under a group life insurance policy may make an irrevocable assignment of the rights and benefits conferred on him by any provision of the policy or by this article.
Assignment under Insurance Policies - Academike - Lawctopus
The creation of assignment of life insurance policies is provided for, under Section38 of the Insurance Act, 1938. Endorsement has to be made on the policy or on a separate document, signed by assignor (or agent authorized by him), attested by at least one witness specifying the fact of the assignment.
Analysis of Provisions related to Transfer, Assignment and ...
SECTION 38: The assignment or transfer of an insurance policy should be in accordance of the provisions of Section 38 of the Insurance Act, 1938 as amended from time to time. The extant provisions in this regard are as follows:
THE INSURANCE ACT, 1938, PART II, ASSIGNMENT OR TRANSFER OF ...
(1) A transfer or assignment of apolicy 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 or his duly authorised agent and attested by at least one witness, specifically setting forth the ...
Section 38 in The Insurance Act, 1938 - Indian Kanoon
Assignment and transfer of insurance policies. (1) A transfer or assignment of a policy of insurance, wholly or in part, 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 or his duly authorised agent and ...
Section 38 of Insurance Act - Aditya Birla Sun Life Insurance
Assignment or transfer of a policy should be in accordance with Section38 of the Insurance Act, 1938 as amended by Insurance Laws (Amendment) Ordinance Act, 2015; The extant provisions in this regard are as follows:
§ 38.2-3111. Assignment of life insurance policies
No life insurance policy shall be taken out by the insured or by a person having an insurable interest in the insured's life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.
Code of Virginia § 38.2-3111 (2023) - Assignment of life ...
No life insurance policy shall be taken out by the insured or by a person having an insurable interest in the insured's life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.
A. Section 38 - Assignment and Transfer of Insurance Policies ...
The document summarizes the key provisions around assignment and transfer of insurance policies as well as nomination by the policyholder according to Section38 and 39 of the Insurance Act of 1938 as amended in 2015.
IMAGES
COMMENTS
Assignment or transfer of a policy should be in accordance with Section 38 of the Insurance Act, 1938 as amended from time to time. The extant provisions in this regard are as follows: . This policy may be transferred/assigned, wholly or in part, with or without consideration.
§ 38.2-3337. Assignment. With mutual agreement among the insured, the policyholder, and the insurer, any person insured under a group life insurance policy may make an irrevocable assignment of the rights and benefits conferred on him by any provision of the policy or by this article.
The creation of assignment of life insurance policies is provided for, under Section 38 of the Insurance Act, 1938. Endorsement has to be made on the policy or on a separate document, signed by assignor (or agent authorized by him), attested by at least one witness specifying the fact of the assignment.
SECTION 38: The assignment or transfer of an insurance policy should be in accordance of the provisions of Section 38 of the Insurance Act, 1938 as amended from time to time. The extant provisions in this regard are as follows:
(1) 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 or his duly authorised agent and attested by at least one witness, specifically setting forth the ...
Assignment and transfer of insurance policies. (1) A transfer or assignment of a policy of insurance, wholly or in part, 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 or his duly authorised agent and ...
Assignment or transfer of a policy should be in accordance with Section 38 of the Insurance Act, 1938 as amended by Insurance Laws (Amendment) Ordinance Act, 2015; The extant provisions in this regard are as follows:
No life insurance policy shall be taken out by the insured or by a person having an insurable interest in the insured's life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.
No life insurance policy shall be taken out by the insured or by a person having an insurable interest in the insured's life for the mere purpose of assignment. A policy may be assigned whether or not the assignee has an insurable interest in the life insured unless the policy provides otherwise.
The document summarizes the key provisions around assignment and transfer of insurance policies as well as nomination by the policyholder according to Section 38 and 39 of the Insurance Act of 1938 as amended in 2015.