Rights of spouse being nominee in insurance and mutual funds policy


I and My wife have done our investment in Insurance and Mutual Funds and have nominated each other’s in the financial instruments. Hence,the query is just in case some unfortunate events happen to both of us in that case legally whom will the money go to?

Answers (3)


67 votes

Dear Client,

In the event if you both expire the money will go to your legal heirs. But why are you to pessimistic - think good- like good. Life is to enjoy and not for worries.

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57 votes

If anything happens unfortunately, in such cases your all investments, movable and immovable property will be devolve among your legal heirs. It is not mentioned that you belongs to which family, I mean you are Hindu/Mulslim/Christain or if family comes under Indian Succession Act, then different ratio.

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135 votes

Obviously if you are the nominee then you will get the mutual funds and Policy benefits, but it also depends will making investment how much percentage your husband had mentioned in nominee column. You have to give affidavit on stamp of 100 that no other person is nominee in future.

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