Can 'Karta' or any adult HUF member can take Life Insurance
Tipsy
(Querist) 27 February 2010
This query is : Resolved
Can 'Karta' of HUF or any adult member of the HUF can take out Life insurance policies
Is Insurance under HUF is allowed only on the life of the Karta.
Is Proposals on the life of co-parceners or members may be allowed only if the Karta is uninsurable.
In short Husband/wife or adult child can take life insurance policy , premium will be paid by HUF
A V Vishal
(Expert) 27 February 2010
Can 'Karta' of HUF or any adult member of the HUF can take out Life insurance policies
YES
Is Insurance under HUF is allowed only on the life of the Karta.
YES
Is Proposals on the life of co-parceners or members may be allowed only if the Karta is uninsurable.
YES
In short Husband/wife or adult child can take life insurance policy , premium will be paid by HUF
YES
Sachin Bhatia
(Expert) 05 March 2010
Yes 'Karta' of HUF or any adult member of the HUF can take out Life insurance policies.
Yes Insurance under HUF is allowed only on the life of the Karta.
Yes Proposals on the life of co-parceners or members may be allowed only if the Karta is uninsurable.
Yes Husband/wife or adult child can take life insurance policy , premium will be paid by HUF.
