Insurance Awareness - Life Insurance - LIC
Who has the right to change the nominee in a life insurance policy during the policy term?
Who has the right to change the nominee in a life insurance policy during the policy term?
easy Q1 of 15
Step-by-Step Solution
Step 1: Understand Nomination Rights
The nomination is made by the policyholder, who retains the right to change the nominee anytime during the policy term.Final Answer:
The policyholder → Option CQuick Check:
Only the policyholder can change the nominee; nominees or heirs do not have this right during the policyholder's lifetime.
Quick Trick: Remember, nomination is a policyholder's prerogative throughout the policy term.
Common Mistakes:
MISTAKES- Assuming nominee or heirs can change nomination without policyholder's consent.
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