Adoption
visuiyer
(Querist) 21 May 2019
This query is : Resolved
I have no family members, down the line or up the line
I am trying to take term insurance; (online policy)
I propose to nominate my nephew.
where as My insurer, says that,
for a term insurance, nephew cannot be nominated.
the insurer also suggest me, if no family members are available,
you can adopt nephew, and nominate him.
Please let me know should I adopt nephew, or is ther any alternate way available.
If I need to adopt a nephew,
Experts, please advise,
what is the procedure for adoption.
In case, I go for adoption,
Should I alter all other investments, (where it was nominated to nephew. like mutual funds and bank accounts)
please advise .
kavksatyanarayana
(Expert) 21 May 2019
Dear querist, for adoption: both the parents i.e. biological father&mother (if no spouse, one of the parent), adoptive father&mother (if no spouse, one of the parent going to adopt) shall be compulsory for adoption and the child's age shall be not more than 15 years.
visuiyer
(Querist) 21 May 2019
Sorry ji..
In such a case, can I not take TERM INSURANCE; because in my case,
I am bachelor
the biological parents are available; but
whose son, (the proposed child for adoption) is
25 years..
Should I remain with no TERM INSURANCE; in such a case..
whereas in other regular endowment policies,
the nephew name is included as the nominee of the proposer.
the problem is only with TERM INSURANCE
Dr J C Vashista
(Expert) 22 May 2019
You have no case/dispute for obligation of experts.
It is strange that there is no class 1, 2, 3 or 4 legal representative in your family, as stated ?
However, consult a local prudent lawyer with relevant documents/ facts for proper appreciation, analyses, guidance and proceeding.
