Ramakant’s indebtedness after his demise can lead to the creditors taking away his property
Ramakant’s bank accounts can be attached to clear off his debts
Mutual funds proceeds can be attached by the creditors
Term policy proceeds under MWP Act
✅ The correct answer is D.
Term policy proceeds under MWP Act is beyond the scope of the creditors. If the Insurance policy was purchased under MWP Act, creditors cannot claim any amount from the policy proceeds and thus the claimed amount becomes available to the nominees.
Term policy proceeds under MWP Act is beyond the scope of the creditors. If the Insurance policy was purchased under MWP Act, creditors cannot claim any amount from the policy proceeds and thus the claimed amount becomes available to the nominees.