Nominee in life insurance policy
M. R. Khan
(Querist) 05 December 2011
This query is : Resolved
D/Sir(s),
I had taken a Life Insurance Policy during 1999, at that time i was unmarried and had nominated nominee to my elder brother. I got married in 2004,i continue paying my premium but nominee has not been changed to my wife name, does it create any problem, in case of any mishap (God forbid) to me or i shall try to change the nominee as my wife as soon as possible?
Thx and reg,
Shailesh Kumar Shah
(Expert) 05 December 2011
you can change nomination. Contact your agent or visit office of policy, they will do needful.
Advocate. Arunagiri
(Expert) 05 December 2011
Nomination can be changed. Give the request to the Branch Manager of that Insurance Company.
Kiran Kumar
(Expert) 05 December 2011
A nominee is merely entitled to receive the money....as far as distribution of money is concerned the legal heirs will be entitled as per the law.
but you may get the nomination changed if you still have any doubts.
A V Vishal
(Expert) 05 December 2011
I concur with Kiran
ajay sethi
(Expert) 05 December 2011
agree with experts . change your nomination . nominee is only a trustee .
you cna also make a will to protect your family in caseof any eventualites
prabhakar singh
(Expert) 05 December 2011
Yes! Any correct advise should be concurred;I too concur with Mr.Kiran
Rajeev Kumar
(Expert) 05 December 2011
I also endorse the advise of Kiran
Devajyoti Barman
(Expert) 05 December 2011
Yes , no need for change as it does not create any title in him.
vasant kulkarni
(Expert) 06 December 2011
PL. DO AS SUGGESTED BY EXPERTS.BUT GET CONFIRMATION FROM LIC THAT NOMINEE IS CHANGED AND NAME OF THE NOMMINEE IS AS PER YOUR DIRECTION TO AVOID ANY UNFORSEEN CIRCUMNSTANCES.
Guest
(Expert) 06 December 2011
You can change nomination any time. It is your right to nominate the person you like or prefer.
RAJU O.F.,
(Expert) 06 December 2011
Better now take up with the insurance company so as to change the nomination in favour of your wife and also get the new nomination endorsed in the insurance policy, to avoid and further issues.
M. R. Khan
(Querist) 07 December 2011
Many thx. 2 all experts.
prabhakar singh
(Expert) 07 December 2011
You are always welcome Mr. M. R. Khan!
