What is Assignment and Nomination in Life Insurance?
Apr 3rd, 2023 at 11:02 Services Mumbai 85 views Reference: 9999Contact us
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Nomination and Assignment serve different purposes. The nomination protects the interests of the insured as well as an insurer in offering claim benefits under the life insurance policy. On the other hand, assignment protects the interests of an assignee in availing the monetary benefits under the policy. The policyholder should be aware of both of them before buying life insurance.