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regarding death claim term insurance .....share of claim
03-Jan-2023 (In Insurance Law)
no nominee is mention in my late husband term insurance policy, my mother in law 75 plus years of age, getting good per month central govt family pension and all the central govt offered medical facilities, living her own home with her sons , still having remaining 4 sons and one married daughter all are of 4o plus years of age, my late husband is number forth son from the eldest one.
where as i and 5 years old girl child and not having any source of earning and neither movable nor any immovable property.
can still my mother in law claim for 1/3rd claim for death term policy of my husband. kindly advice me.
There are various factors to be considered here. First, and most important, is your husband the nominee in the policy? Only nominees can receive the policy money in the event of death of the policyholder. In case there is no nominee you will need to get in touch with the insurer to understand the process for settlement in favour of the legal heirs.
The insurer may admit the claim and the nominee/legal heir shall receive any death benefit which may be present in the policy. Third, check whether the life insurance plan has a maturity benefit payable even after death of the policyholder or not. If yes, the nominee/ legal heir will also receive the maturity benefit.
The insurer may admit the claim and the nominee/legal heir shall receive any death benefit which may be present in the policy. Third, check whether the life insurance plan has a maturity benefit payable even after death of the policyholder or not. If yes, the nominee/ legal heir will also receive the maturity benefit.
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Adv. Jagat Singh
Greater Noida | 25+ Answers
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