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Tuesday, August 31, 2021

Women Special Reads

Women Special Reads

The Married Women's Protection Act (MWP act) is designed to protect married women.  This is a kind of welfare law.  In which women are mentioned as an officer connected with social welfare.  The MWP act was enacted in the year 1874.  The purpose of this law is to give married women the right to own salary, earnings, property, investment and savings.

The husband is not entitled to any such earnings of the wife

According to the MWP act, if the wife receives any kind of interest through investment, savings, salary or property, the husband cannot take part in it if the interest is earned.  This rule was made so that if a woman gets any property from her family before marriage, her right of ownership can be protected.  If a woman has inherited property from her relatives or creditors and earns interest on it, then she will have full right over it even after marriage.  The husband cannot sue her.  It is different if the wife voluntarily gives the husband a share in the earning of interest.

 Section 6 of MWP act

 Section 6 of the MWP act states that if the husband takes out an insurance policy and the wife makes the children a beneficiary in it, the full benefit or bonus of the policy will be given only to the wife and children.  No member of the husband's family can be a partner in it.  This means that after the death of the husband, the wife and children are entitled to all the financial benefits attached to the insurance policy.

 If the husband takes out an insurance policy in the name of his wife and children, it is clear that both will be his legal heirs as his beneficiaries.  However, the wife has to be registered as a nominee in the policy.  Legally this work is legal and necessary.  Then there is no legal hurdle and the wife and children are the natural nominees.

The right to an insurance policy

 Some special provisions have been made for taking insurance policy under MWP act.  Under this Act, the husband takes the policy in the name of his wife and children and after his death all the benefits of the policy are given to the wife-children, so that the family does not have to bear the burden of debt in incomprehensible situations.  This provision has been made in the MWP act to cover the expenses of the family from the rupee of Death Benefit and Bonus etc.

 Different provisions have been made keeping in view the financial security of the nominee.  In the year 2015, the rules of insurance have been changed and the option of 'Beneficial Nominee' has been given, in which the policyholder can register the name of the spouse, parents and child as the nominee.  The benefit of insurance is given on the basis of these names.  Under it, the policyholder can nominate more than one person if he wants and can share in advance for all if he wants.

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