Insurance Policy nominee Vs Legal heirs
3 years ago
My friends mother expired recently and his yelder sister of the age 25years old is nominee in her mother's insurance policy but in court heirship certificate he is also legal heir, so does he have right to take share in insurance fund legally. Please advice,he is very loyal person but his sister cheating him everywhere.
A.Dear Sir,
Nominee is not entitled for entire amount but after nominee receives entire amount it has to be distributed as per the norms of personal laws.
Nominee is not entitled for entire amount but after nominee receives entire amount it has to be distributed as per the norms of personal laws.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Nominee is only be the trustee/ custodian for a temporary duration, until the establishment of the legal heir to the property/ estate, as per the Succession Act (or Will). Thereafter, the nominee will hand over the property/ estate to the legal heir/ heirs, as per the law.
Therefore your friend can claim the insurance fund, since he is also the legal heir.
Nominee is only be the trustee/ custodian for a temporary duration, until the establishment of the legal heir to the property/ estate, as per the Succession Act (or Will). Thereafter, the nominee will hand over the property/ estate to the legal heir/ heirs, as per the law.
Therefore your friend can claim the insurance fund, since he is also the legal heir.
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A.Hi,
Nominee is only the person who is entrusted with the property until the establishment of the legal heir to the property/ estate, as per the Succession Act. However, it is the duty of the nominee to hand over the property to the legal heirs, and hence your friend is entitled to claim the share in insurance fund.
Nominee is only the person who is entrusted with the property until the establishment of the legal heir to the property/ estate, as per the Succession Act. However, it is the duty of the nominee to hand over the property to the legal heirs, and hence your friend is entitled to claim the share in insurance fund.
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