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Rights of spouse being nominee in insurance and mutual funds policy
13-Mar-2023 (In Banking / Finance Law)
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?
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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Adv. Manoj Mulchandani
Nashik | 500+ Answers
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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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Adv. Balaji Sagar
Pune | 100+ Answers
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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.
You can book consultation with any of the empaneled advocate of Lawrato for better advice.
Expert Jurist LLP
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.
You can book consultation with any of the empaneled advocate of Lawrato for better advice.
Expert Jurist LLP
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Adv. JV Bhosale
Mumbai | 400+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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