https://www.taxtmi.com/caselaws?id=168429 A nomination under Section 39 of the Insurance Act authorises the nominee to receive the policy proceeds from the insurer and give a valid discharge, but it does not by itself transfer beneficial ownership or title in the money. The nomination is therefore limited to receipt of the amount and does not exclude the legal heirs from claiming the proceeds under the applicable succession law. The policy money remains part of the deceased's estate unless some other legal rule vests a beneficial interest in the nominee. en-us Mon, 10 Oct 1960 00:00:00 +0530 Fri, 27 Feb 2015 18:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168429 A nomination under Section 39 of the Insurance Act authorises the nominee to receive the policy proceeds from the insurer and give a valid discharge, but it does not by itself transfer beneficial ownership or title in the money. The nomination is therefore limited to receipt of the amount and does not exclude the legal heirs from claiming the proceeds under the applicable succession law. The policy money remains part of the deceased's estate unless some other legal rule vests a beneficial interest in the nominee. Case-Laws Indian Laws Mon, 10 Oct 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168429