In Case of a Policy, effected under Married Women's Property (M.W.P.) Act, the Policy-Monies shall be Payable to --.
A)Trustee
B)Appointee
C)Assignee
D)Nominee

Question

Quizplus · Accepted Answer

Under the Married Women's Property (M.W.P.) Act, the policy monies are payable to the trustee(s) named in the policy. If no trustee is named, the policy monies are payable to the legal representatives of the policyholder, but they are meant for the benefit of the wife and children as per the act.

In Case of a Policy, Effected Under Married Women's Property