Addition, change or cancellation of nomination is allowed. Nomination shall be by endorsement
Where the nominee is a minor, the policy holder needs to appoint an appointee. The appointee needs to sign the policy document to show his or her consent to acting as an appointee.
Section 38 - Assignment - ordinarily refers to transfer of property by writing as distinguished from transfer by delivery
Conditional assignment provides that the policy shall revert back to the life assured on his or her surviving the date of maturity or on death of the assignee
Absolute assignment provides that rights, title and interest of the assignor in the policy are transferred to the assignee without reversion to the former or his / her estate in any event
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