Special revival - the policy has run for less than three years and has not acquired minimum surrender value
Loan cum revival - the facility of loan cum revival would be allowed only for policies that have acquired surrender value as on date of revival.
Section 39 - Nomination is where the life assured proposes the name of the person(s) to whom the sum assured should be paid by the insurance company after their death
A nominee does not have any right to the whole (or part) of the claim. Nomination can be made when the policy is bought or thereafter
The life assured can nominate one or more than one person as nominees. Policy money's payment is made to surviving nominee/s
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