n NISM Certifications
X NISM Series X
Medium

Under the Married Woman Property Act, 1874, who can be beneficiaries of a life insurance policy taken on the life of a married man?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The wife alone

  2. B

    Wife and children together or any of them

  3. C

    The child/children alone (natural or adopted)

  4. All of the above

    Correct answer

Why this is the answer

The Act allows life insurance policies to be taken expressly for the benefit of the wife, children, or both, with benefits held in trust and protected from claims.

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