LawgistThe Insurance Act
50Notice of options available to the assured on the lapsing of a policy
An insurer shall, 1[before the expiry of three months from the date on which the premiums in respect of a policy of life insurance were payable but not paid], give notice to the policy-holder informing hi m of the options available to him 2[unless these are set forth in the policy.]
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1 Subs. by Act 11 of 1939, s. 20, for "within three months of the lapsing of policy of life insurance".
2 Added by Act 13 of 1941, s. 35 (w.e.f. 8-4-1941).
SPECIAL PROVISIONS OF LAW
- 45 Policy not to be called in question on ground of mis-statement after two years
- 46 Application of the law in force in India to policies issued in India
- 47 Payment of money into Court
- 47A [Omitted.]
- 48A . Insurance agent or intermediary or insurance intermediary not to be director in insurance company
- 48B Further provision regarding directors
- 48C [Omitted.]
- 49 Restriction On dividends and bonuses
- 50 Notice of options available to the assured on the lapsing of a policy
- 51 Supply of copies of proposals and medical reports
- 52 Prohibition of business of dividing principle
