Minor ki amount vesi major ayaka tesukovali

903 votes

Under the insurance act 1938, a nominee is only a trusty for legal hair, insurance amount not to be used the funds for guardian personal uses . Your mother in law can use the funds only for your children's education or any other personal uses of your children only. There is no chance to divert to other personal uses. If You have any doubt about your kids insurance money you have the right to ask your mother in law to take a joint FD account for your reference. Ask about minor FB with two Guardians . Consult a lawyer for a guardianship affidavit. Take immediate action before funds are misuse. By taking these steps you can ensure that the insurance amount is safe and secure for your kids.

Advocate Pavani Kumari LawRato

840 votes

aa policy eppudu teesukunnaru? meeru legal heir certificate emaina teesukunnara? mee husband bank account lo nominee details emaina idea undha.... meeru, u can claim that. complete details lekunna, proper ga advice cheyalenu. thanks Adv. Raj

LawRato LawRato

962 votes

As per your query, your husband had taken an LIC policy and nominated his mother (your mother-in-law). Now, after his demise, the nominee (mother-in-law) has received the LIC amount. Please note: 1. Nominee is not the legal owner: In Indian law, a nominee is only a trustee or custodian of the amount—not the ultimate legal heir. The amount legally belongs to the legal heirs (in this case, your two children and you as their mother/legal guardian). 2. Children’s Share: Since your children are minor legal heirs, their share should be protected. If the nominee is refusing to share the LIC maturity amount, you can take legal action. 3. Remedy: You may file a civil suit for recovery of your children’s share from the nominee. Courts recognize minors' rights and can appoint you as guardian to receive and safeguard their share. 4. New LIC Policies for Children: If the nominee reinvests the amount into LIC for the children, that is acceptable, but only if it is done properly with guardianship and benefit clauses in your children's favor. Otherwise, she may misuse the amount again. 5. Legal Safeguard: You can also approach LIC and explain the misuse of nominee rights if relevant, though once the amount is paid, LIC usually stands discharged from liability. Suggestion: Consult a civil lawyer and consider filing a case under guardianship and succession laws to secure the amount legally for your children. Let me know if you need help drafting a legal notice or civil recovery suit.

Advocate Mrudhula Jahnavi LawRato