Life Insurance Policy Nominee Benefits: While taking the policy, decide the name of the nominee. But keep in mind that choosing the right nominee for the policy is also very important. You can also change the nominee with time. Know the complete process here.
New Delhi: Life Insurance Policy Nominee Benefits: If you are taking LIC policy or you have taken it, then there is very important news for you. While buying the policy, a member of your family must be made a nominee (Life Insurance Policy Nominee). If you have not made a nominee at the time of taking the policy and an accident happens to you, then your loved ones may have been deprived of the amount. That is, the biggest advantage of this is that the family will not have any problem in getting the claim of the policy and unnecessary disputes can also be avoided.
Things to keep in mind while choosing a nominee
Decide the name of the nominee at the time of taking the policy. But keep in mind that choosing the right nominee for the policy is also very important. If you are the only earning member in your family, then choose the person of the family for the nominee who is capable of taking financial responsibility in your absence. Mostly this responsibility is borne by the spouse, then you can make him a nominee. In such a situation, the members of your family will definitely get work.
Nominee more than one
It has been seen many times that some people want to divide their money between two people. Like wife and child or wife and brother or mother. In such a situation, you can make a separate nominee for different policies by buying more than one policy. Or you can decide the share of more than one person at the time of buying the policy and make them a nominee. For this written undertaking can be taken while buying the policy from the insurer.
Nominees can change with time
- Policyholder can also change his/her How To Change Nominee with time.
- If a nominee dies or gets employment and another member needs more money, the nominee can be changed.
- Apart from this, the nominee can also change in the event of marriage or divorce.
- For this, you download the nominee form from the website of the insurance company or collect this form from the office.
- Fill the details of the nominee in the form.
- Now submit the copy of the policy document and the documents of your relation with the nominee.
- If there is more than one nominee, then also decide the share of each.
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