Common use of Nomination Clause in Contracts

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 5 contracts

Samples: www.adityabirlahealth.com, www.irdai.gov.in, www.irdai.gov.in

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Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln In the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder Policyholder whose discharge shall be treated as full and final discharge of its liability under the policyPolicy.

Appears in 4 contracts

Samples: intranet.irdai.gov.in, healthstatic.insurancedekho.com, www.irdai.gov.in

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 2 contracts

Samples: policyholder.gov.in, policyholder.gov.in

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln In the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 2 contracts

Samples: www.irdai.gov.in, www.bajajallianz.com

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln In the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in iri case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder Policyholder whose discharge shall be treated as full and final discharge of its liability under the policyPolicy.

Appears in 2 contracts

Samples: www.irdai.gov.in, www.libertyinsurance.in

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing w riting and such s uch change shall be effective only when an endorsement on the policy is made. ln the event of death of the policyholder, the Company will w ill pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} ) and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 1 contract

Samples: www.bajajallianz.com

Nomination. The policyholder Insured Person is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company Company in writing and such change shall be effective only when an endorsement on the policy is made. ln the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 1 contract

Samples: www.irdai.gov.in

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Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective effective only when an endorsement on the policy is made. ln In the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy CertificateCertificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder Policyholder whose discharge shall be treated as full and final final discharge of its liability under the policyPolicy.

Appears in 1 contract

Samples: www.libertyinsurance.in

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln the event of death of the policyholder, the Company will pay the nominee {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy. Super Reload Rider, Product UIN: ADIHLAP21588V012021.

Appears in 1 contract

Samples: www.irdai.gov.in

Nomination. The policyholder is required at the inception of the policy to make a nomination for the purpose of payment of claims under the policy in the event of death of the policyholder. Any change of nomination shall be communicated to the company in writing and such change shall be effective only when an endorsement on the policy is made. ln In the event of death of the policyholder, the Company will pay the nominee Health Guard -Silver Plan {as named in the Policy Schedule/Policy Certificate/Endorsement (if any)} and in case there is no subsisting nominee, to the legal heirs or legal representatives of the policyholder whose discharge shall be treated as full and final discharge of its liability under the policy.

Appears in 1 contract

Samples: www.bajajallianz.com

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