Insurance act 2015 and nomination
2 years ago
My daughter has expired during pregnancy( child was alive) and she was working at that time.
Company had a term insurance policy under her name And term insurance is taken on the month of August around 1-week of 2015 under my daughter's name .she gave the nominees as father(myself) and mother ( nominated before marriage).
Company has issued the claim amount to us.but my daughter's husband is asking for the claim amount.
Could you please clarify us whether under the insurance act 2015 are we the appropriate persons to seek the claim benefits or the new born son and my daughter's husband??
Unless a legal obligation has been imposed the property of the deceased shall be received and held by the nominees and not the heir.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
The nominee will hold and receive the property of the deceased until the nominee is legally bound to transfer or distribute it to the legal heirs of the deceased.
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A.Dear Sir,
The division of amount received will be as per Hindu Succession Act and not as per provisions of Insurance Act. Please see Section 15 of Hindu Succession Act.
Section 15 in The Hindu Succession Act, 1956
15. General rules of succession in the case of female Hindus.—
(1) The property of a female Hindu dying intestate shall devolve according to the rules set out in section 16,—
(a) firstly, upon the sons and daughters (including the children of any pre-deceased son or daughter) and the husband;
(b) secondly, upon the heirs of the husband;
(c) thirdly, upon the mother and father;
(d) fourthly, upon the heirs of the father; and
(e) lastly, upon the heirs of the mother.
(2) Notwithstanding anything contained in sub-section (1),—
(a) any property inherited by a female Hindu from her father or mother shall devolve, in the absence of any son or daughter of the deceased (including the children of any pre-deceased son or daughter) not upon the other heirs referred to in sub-section (1) in the order specified therein, but upon the heirs of the father; and
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