Section 118
Power to make nomination
of Labuan Financial Services and Securities Act 2010
ActIn forceProvision 117 of 201
Section 118
(1)
A policy owner who has attained the age of eighteen years may nominate a natural person to receive policy monies payable upon his death under the policy by notifying the Labuan insurer in writing of the name, date of birth, identity card number or birth certificate number and address of the nominee at the time the policy is issued.