Sales Trainer, Leadership & Life Skills
Vivian Chandrashekar
Aast. Gen. Manager-hr
Kirti Kushwah
Hr Executive
+8 Others

respected members,
before my marriage my husband taken one LIC policy in 2009 worth 18lakhs, and he kept his father as nominee.And we got married(love) IN 2013,and we registered our marriage.ofcourse my parents and his parents also attended the marriage.NOW I AM 5 MONTHS PREGNANT.now i asked my husband about change of nominee name. And because of his mother influence , he is not interested to change me as his policy nominee.Suppose if some unfortunate things may happen to him, then 1. AM I ELIGIBLE TO GET THE DEATH BENEFITS?
Upon marriage, the legal heir is wife. No worry. Don’t expect/think the unfortunate events when a person is alive. Pon
Dear Member,
In my opinion, you can also download policy guidelines of LIC online relating to " Nominee" after acquiring of family. I think, such guidelines/instructions may be available on website of LIC.
You can also get some idea from any LIC agent working around your office/locality.
Without getting into your specific question let me put it like this.
The meaning of nominee - is nothing but in case of death of insurer, the person who is declared as nominee will get the benefit.
You can draw conclusion who will get benefit.
According to you, now you are not the nominee and when such question arise you need to prove that you are the legal heir by producing your marriage certificate and change to your name.
Dear Member,
As per the my experience with LIC, only nominee will get the the benefits in all situations.
You can convince to your husband and in laws to make your child nominee after few months instead of you and your father in laws & in that case i don't think your in laws will not accept your proposal.
@ PON,,,,,,,,Upon marriage, the legal heir is wife. No worry.
If you can share some more details on your contribution, then it will be good..
Nominee is only collector on behalf of all legal heirs and he/she is bound to reimburse the legal heirs of Policy holder after collecting the amount.If nominee does not reimburse, the LRS entitled for share may file case against him thereby seeking directions to reimburse.
Prithvi Raj Sikka Advocate
Section 39 of the Insurance Act says the appointed nominee will be paid, though he/she may not be the legal heir. The nominee, in turn, is supposed to hold the proceeds in trust and the legal heir can claim the money. Similarly, Reserve Bank of India (RBI) guidelines specify the deceased’s nominee would receive the money in the capacity of a trustee of the legal heirs.
Read here for more
A nominee is not a legal heir | Business Standard
The Supreme Court stated, "A mere nomination made under Section 39 does not confer on the nominee any beneficial interest in the amount payable under the life insurance policies on the death of the insured." The amount, however, can be claimed by the heirs of the assured in accordance with the law of succession governing them.
Will a nominee inherit your assets? - Economic Times
he says that only nominee will.get the benfit if incase u want.the benifot u have to.chamge the nominee or else take a new.LIC policy in ur nominee name.
If something happens to your husband then the monies will surely go to your father in law.
However, as a wife, if you are still claiming the funds then you would have to fight it out in a court of law.
Also, please dont worry about nominee money, times and relationships change with love and respect.
Dear Member
I fully agreed with the submissions made by Advocate Prithvi Raj Sikka that the Nominee is only a trustee on behalf of all legal heirs and he is legally bound to reimburse the Insurance amount to the legal heirs of the policy holder. In case titled sarbati devi vs. Usha Devi AIR 1984 Supreme Court 346 in which the Hon’ble Apex Court has held that a mere nomination made under section 39 of the act does not have the effect of conferring on the nominee any beneficial interest in the amount payable under the life insurance policy on the death of the assured. The nomination only indicates the hand which is authorized to receive the amount, on the payment of which the insurer gets a valid discharge of its liability under the policy. The amount, however, can be claimed by the heirs of the assured in accordance with the law of succession governing them.
In your case you and your mother-in-law are only legal heirs of your husband as per Hindu Succession act.
Why should such a thought even arise in your mind? You should pray that the husband lives long. And even if you are being practical, be a dutiful daughter in law. Your father in law will also have some compassion towards you and your child. Also, why don't you earn your own money and start saving for the future. Take your own insurance policies. Please understand, insurance is not only to secure the finances for people left behind upon your death, it is also an investment and you can reap benefits during your life time. When the policy matures, you get paid the sum assured along with the interest.
Greetings, In my opinion, you can contact your LIC advisor regarding this thing and He can help u in this situation.
Dear Member, why don’t you approach the Company for better understanding or write mails to the top bosses incase of unsatisfactory answer, as the policies & procedures differs from Co. to Co.
All members have given their suggestions which are very much correct.
I appreciate the answer by Vivian that if the nominee in wife now changed question does not arise, as LIC will issue the cheque in the name of the nominee mentioned in the policy .
As far as I know my LIC agent informed me that in any case the nominee has been declared as wife and she produces all the documents - death certificate of insurer & marriage certificate . LIC will certainly issue the cheque in the name of the nominee (wife) mentioned in the policy.
U Can Also get the benifit of LIC Policy but U have to claim for policy also u have to prove that u are completly depend on ur Husband (or not having any source of income) after ur husband then u can get at leat 50% or more depends on situation
Please read the following link and the judgement of the honorable courts. http://indiankanoon.org/doc/833164/ Regards G Dsouza (LIC Agent)
Dear Members,

I am really surprised to note that how come a lawyer giving such openion to a simple query.

Let me answer this question out of my 12 years experience in insurance industry handling a consultant to compliance (both India and overseas).

Insurance nominee document is a leagal document. In simple words it is a will. It works exactly like a will. it means a person wish to transfer his movable and imovable asset to a particular person. It can be anyone. But at the time of signing the contract proper seson should be given for complaience for various resons (importantly aunti money laundering).

In this case father is nominee and it has a perfect blood relation. If some thing happend to the insured's life the benefit will be given to the nominee 100%.However there is a provision in the form to split the benefit to various blood relations like children, spouse and parents.

So in this case if the wife wants the money to be paid in her name, she should convince the husband to alter the nominee (beneficiary). If not no court can give verdict in favour of you, in the absence of the insured.

In india many Insurance companies get a bad name for non settlement of claim. The 2 main reson for non settlement is 1. no clarity on beneficiery (nominee), most cases minor nominees. 2. non disclosure, which means false health statements and disclosure of asserts.

My dear policy holders please understand the real meaning of insurance and its benefits. Don't put your trust with false leagel advisers and end up in big issues and loosing money.
Nominee is the person who is responsible to transfer any assest in the name of legal heirs.So legal heirs is the solely benefit.
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