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The Insurance Act, 1938

( ACT NO. IV Of 1938 )

Notice of options available to the assured on the lapsing of a policy
50. An insurer shall, 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 him of the options available to him unless these are set forth in the policy.

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