Your life insurance policy is a contract between you (insured) and the insurance company (insurer). The contract is filled with jargon. To the extent possible, we must understand all the terms mentioned in the policy bond (certificate). ‘Assignment’ and ‘Nomination’ are two most common terms used in the insurance world. For instance, in the event that you plan to apply for a home loan, your home loan provider will surely use these terms. Hence, it…
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