Insurance
sundararajan
(Querist) 20 November 2009
This query is : Resolved
I have taken a life insurance for Rs 25lakhs where my wife is the nominee.In case of any unfortunate event , on what basis the proceeds will be given to the nominee.
Does she need to show any relationship proof. If so , we do not have any relationship proof atpresent. What can we do ?
pls help
sunildatta akole
(Expert) 20 November 2009
Nominee is a trustee. and therefore he does not have sole right over your life insurance. in case of any unfortunate event your all legal hairs will have right over this property.
They can claim for it. in that situation if your wife is a legal wife then would also get the praportionate share in this insurance policy.
If you wish to give whole amount of your policy to your wife in that case it is better for you to make a "WILL" and mentioned clearly your wish regarding this insurance policy or other properties in it.
It is also better to register your will.
sundararajan
(Querist) 20 November 2009
Thanks FYI.
If my wife is eibile for 100% , does she need to show any proof of relation to claim the proceeds.
A V Vishal
(Expert) 20 November 2009
Yes she needs to prove that the wedlock is legal
sundararajan
(Querist) 20 November 2009
What are the documents accepted as relationship proof
PJANARDHANA REDDY
(Expert) 20 November 2009
NOMINEE RELATIONSHIP IS WIFE DECLARED IN PROPOSAL FORM, IF IT COMES AS CONTRARY TO INSURER ,THE CLAIM WILL BE REJECTED. HENCE U CAN CHANGE THE NOMINEE DETAILS ANY NUMBER OF TIMES.
Raj Kumar Makkad
(Expert) 20 November 2009
Dont afraid. Your wife has every document to prove her relationship with you like Ration Card, voter card, bank pass book, photo identity card etc. These are normal documents which everyone keeps with him and these documents are relied upon as a proof of relationship. No formal or specific document is required to claim the amount by nominee.
