Legal heirs

the legal heirs can claim the insured amount,In such an eventuality, a "Succession Certificate" will have to be submitted by the Claimant. A Succession Certificate is issued on application by a competent court on the question of the right to the property of the deceased. The Succession Certificate should specifically provide for disbursement of policy monies. If, however, the deceased has left a will, a probate of the will is required along with the copy of the will.

When insurance was with LIC, if an unmarried person nominates his mother or any other person, it becomes null on his getting married. Thereafter he can file fresh nomination. I think the wife gets the first preference.

Dear Friend

The loss is irrepairable to both. Without getting into as to who is entitled both should make joint efforts to realize the money. Depends on the policy documents. But wife would get the preference over his mother, as she is direct dependent. 

Regards

VIRAJ KADAM

Advocate, Supreme Court of India

As per Hindu Succession Act both widow and mother of deceased are lrgal heirs in the said query.Nominee can collect the policy amount but she is only trustee of that property and she has to distrbute the same between the heirs

It is true that a nominee is only a trustee. But LIC doesn't blindly pay to a nominee/trustee. It generally makes sure that the person who receives the amount is himself/herself entitled for it. The nominee/trusty definition is only an escape route, just as 'or bearer' on a cheque is an escape route for the bank. If the word bearer is struck off most banks refuse to pay cash.