Once the Article 370 is revoked in the state of J & K , all the provision of law which is prevalent in remaining part of India including the Act you have mentioned is applicable in J & K as well.

You may refer to this-

MINISTRY OF LAW AND JUSTICE
(Legislative Department)
NOTIFICATION
New Delhi, the 5th August, 2019
G.S.R .551(E).— the following Order made by the President is published for general information:-
THE CONSTITUTION (APPLICATION TO JAMMU AND KASHMIR) ORDER, 2019
C.O. 272.

Under this act, Section 6 highlights it’s importance: "a policy of insurance effected by any married man on his own life and expressed on the face of it to be for the benefit of his wife, or of his wife and children, or any of them, shall ensure and be deemed to be a trust for the benefit of his wife, or of his wife and children, or any of them according to the interests so expressed, and shall not, so long as any object of the trust remains, be subject to the control of the husband, or to his creditors, or form part of his estate."

2) If you are a resident of India and a married man, you can take an insurance policy under the MWPA. You can also purchase the policy if you are a widower or a divorcee—in such a scenario, you may name your children as beneficiaries. However, the benefit can only be availed while taking the policy, and that too if you buy the policy in your own name.

3) as of August 6, 2019, “all clauses of the said article 370 shall cease to be operative,” and that “[a]ll provisions of this Constitution, as amended from time to time, without any modifications or exceptions, shall apply to the State of Jammu and Kashmir.”

Under Married Women's Property Act, all the properties belonging to the women gets insulated from court attachments or any income tax attachments that the husband has run-up.

2) At the time of making an application one has to fill in MWP addendum. This form is also provided by life insurance companies. In the form one has to fill in the details of his wife and children, whoever he wishes to make beneficiaries in the policy. In case of death, the policy proceeds do not go to anybody else other than the beneficiary as named by you in the policy. There is no attachment because the policy does not belong to the husband.

Yes now you can do the same. But you need to check whether the same is notified in the gazette notifications

Respected sir...

As article 370 of Indian constitution was revoked by the the Indian parliament and from there onwards all all the acts and regulations war applied there in in the same manna in which the acts and regulations applies to whole of India and section 5 of married women property e act clearly states that Married woman may effect policy of insurance :- Any married woman may effect a policy of insurance on her own behalf and independently of her husband; and the same and all benefit thereof, if expressed on the face of it to be so effected, shall ensure as her separate property, and the contract evidenced by such policy shall be as valid as if made with an unmarried woman.. which makes clear that a resident can buy and insurance under married women property act

Thank you

1. Yes the act is applicable in the J&K and resident of J and K buy Life insurance under MWP act due to Jammu and Kashmir reorganisation act 2019.

2. But amendment as such for residents of Jammu and Kashmir is not enacted till date but it is expected soon. 

With the scrapping of article 370, all the provisions of the Indian Constitution are to apply to the State of J & K without any special provisions.

Nomination dose not provide any right. You have to appoint them beneficial nominee to take advantage of the mwpa.

After the repeal, this act is applicable to j&k.

S.5 is with respect to married women. She may also take insurance on her behalf independent of her husband. It would be treated as her separate property.

a total of 106 central laws will now be applicable in Jammu and Kashmir as well as the Ladakh Union Territory with the passage of Jammu and Kashmir Re-organisation Bill, 2019 by Parliament after abrogation of article 370 of the constitution.

The Act was enacted to safeguard interest/properties owned by married women from creditors, relatives (including husbands), and court and tax attachments. 

The applicability of the said act to J&K is to be seen among the central laws that are now applicable in J&K.

Nominees till now acted as receivers of the insurance proceeds on behalf of the legal heirs of the policyholder. The revised Insurance (Amendment) Act 2015 has created a 'beneficial nominee' category, which clearly make the nominees such as spouse, parents and children as the final recipients of the insurance proceeds.