When can insurance company forfeit policy under section 45?

[Madhura]

1- Could you please explain the circumstances under which an insurance company can forfeit policy, under section 45?
2- Will the nominee get something in this case (forfeit policy - under section 45)?

It does not say anything on the nominee. So I feel, if nominee is denied claim under section 45, than going to the court is an option for the nominee.