Legal Question in Insurance Law in India
Nominy powerfull or Wife
If there is an insurance policy which is been drawn before marriage on name of Mr. XXXXXX and he had selected nominy as his brother then after his death who will get the benefit, Nominated person or his Wife.
4 Answers from Attorneys
Re: Nominy powerfull or Wife
The benefit will go to the legal heirs i.e. wife; however, the nominee may collect the dues and deliver to the beneficiary.
The role of nominee is like that of a guardian; the nominee is not entitled to retain anything unless he has otherwise any legal right to the money / property of the deceased.
Re: Nominy powerfull or Wife
Nominee is the person entitled to receive the benefit but not own it. The concept of Nomination is only to ease receipt of the benefits without dificulty and does not give any right or ownership over it. Therefore wife being legal heir of the decease will be legally entitle to the benefit subject to other conditions like religion, will etc.
may clarify further at [email protected]
Re: Nominy powerfull or Wife
It is the nominee who would be entitled to the benefit since that would be your desire which you made before the insurance company prior to your death. The insurance company has no choice. It goes without saying that you may change the nomination as many times as you desire but communicate to the insurance company about the change.
Vishwa Arya
Re: Nominy powerfull or Wife
Nominee just receives money but only for legal heirs.
Related Questions & Answers
-
Signature on demand draft i got issued a cheque that is not signed by authorised... Asked 11/08/08, 8:40 am in India Insurance Law
-
Case of stop payment of cheque i got operated at a hospital for which pre approval... Asked 10/15/08, 1:09 am in India Insurance Law
-
Insurance when register owner of any motor vehicle died during subsistance of... Asked 9/18/08, 12:56 pm in India Insurance Law
-
Life insurance claim from LIC INDIA what will be the share of a widow on the death... Asked 6/17/08, 5:30 am in India Insurance Law
-
Infidelity Insurance Coverage (Cash Loss) Please send me the contents of agreement... Asked 5/21/08, 2:50 am in India Insurance Law