When can insurance company forfeit policy under section 45?

[Ansh]

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)?

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[Madhura]

SECTION 45 OF INSURANCE ACT 1938
"No policy of life insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no policy of life insurance effected after the coming into force of this Act shall, after expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the proposal."

[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.