Section 34(3) in First Statutes of the Jai Narayan Vyas University Jodhpur
(3)The University will not make any payments on behalf of the subscribers to insurance companies, or take steps to keep a policy alive.(b)It is immaterial what from the policy takes: provided that it shall be one effected by the subscriber himself/herself on his/her own life and shall unless it is a policy expressed on the face of it to be for the benefit of his wife/her husband or of his wife/her husband and children or any of them be such as may be legally assigned by the subscriber himself/herself to the University.A policy on the joint lives of the subscriber and his wife/her husband shall be a policy in the life of the subscriber himself/herself for the purpose of this sub-rule.A policy which has been assigned to the subscriber's wife/husband shall not be accepted unless either the policies first reassigned to the subscriber or both the subscriber and his wife/her husband join in an appropriate assignment.(c)The policy may not be effected for the benefit of any beneficiary other than the wife/husband of the subscriber or the wife/husband and children, or any of them.
