LIC Policy Nominee Benefits: There is big news for those who take LIC policy. LIC has made a big change in the rules for taking the policy. If you do not know this new rule rule, then all your money can be lost.
Life Insurance Policy Nominee Benefits: If you are also going to buy LIC’s policy, then definitely read this news first. LIC has made a big change in the rules of buying the policy. Now it has become mandatory for you to make a member of your family a nominee (Life Insurance Policy Nominee) while buying the policy. Actually, the department has taken this big decision keeping in view the interests of the customers.
If you have not made a nominee at the time of taking the policy and you meet with an accident, then your near and dear ones may be deprived of the money. The biggest advantage of this new rule is that the family members will not have any problem in getting the claim of the policy and unnecessary disputes can also be avoided. Let us know how you can add the nominee.
Make more than one nominee like this
By the way, people make their spouse a nominee, but if you want to distribute your money between two people – like wife and child or wife and brother or mother. In this case, you can buy more than one policy and make different nominees for the two policies. You can also decide the share of more than one person or make them nominees at the time of buying the policy. For this, a written undertaking can be taken from the insurer at the time of purchasing the policy.
Keep this thing in mind while choosing a nominee
You should decide the name of the nominee at the time of taking the policy. Choosing a nominee is also very important. If you are the only earning member in your family, then choose that family member for the nominee who is capable of taking the financial responsibility in your absence. Mostly this responsibility is taken by the life partner, so you can make him a nominee, so that your trust will definitely be useful to the family members.
Nominee can also be changed
- Let us tell you that the policy holder can also change his nominee over time.
- You can change the nominee if a nominee dies or gets a job and another member needs money more.
- Apart from this, the nominee can also be changed in case 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 decide the share of each.
