Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 10

Issue and ownership of policies

  (1)   For the purposes of this Act:

  (a)   a life company issues a policy when the company enters into the contract that constitutes the policy; and

  (b)   a policy is issued to the person with whom the life company enters into the contract.

  (2)   For the purposes of this Act, the owner of a policy is:

  (a)   the person to whom the policy is issued; or

  (b)   if the rights of that person under the policy have been assigned under this Act or transferred by the operation of the policy, the person who has those rights.



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