Insurance claim in case of no nominee
vinayak
(Querist) 05 September 2012
This query is : Resolved
Dear all,
Please provide your valuable advise...
Facts - Employee died in road accident___ no nominee made___company received claim from insurance company and now wants to allocate insurance claim to one of family member.
What documents required from company point of view to safeguard its interest ?
ajay sethi
(Expert) 05 September 2012
ask for succession certifcate from employee relatives
Raj Kumar Makkad
(Expert) 06 September 2012
Company can demand nomination of a single family member of deceased by all his legal heirs to receive that amount. Duly sworn affidavit and indemnity bond may be invited from them for this purpose. Generally a long time is required to obtain Succession Certificate from court.
vinayak
(Querist) 07 September 2012
I thank for valuable reply from Ajay and Raj sir.
Raj sir will it be enough to get affidavit and indemnity bond without obtaining succession or family member certificate ?
Will it dissolve liability of company in whole ?
Looking for your valuable advise.
Thanks
ajay sethi
(Expert) 07 September 2012
succession certifcate dosent take more than 6 to 9 months .
prabhakar singh
(Expert) 07 September 2012
will it be enough to get affidavit and indemnity bond without obtaining succession or family member certificate ?
YES!OF COURSE IS MY ANSWER.RAJ IS CORRECT.
