The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the following Q&A which was published by the Mint Newspaper on 30th January, 2022 and the online edition of the same can be found here.
One of my friend’s relatives took an insurance policy with a public insurer in 2013 and she paid two payments and the third payment was not paid by the insurance agent. Later, she passed away due to health issues. She had only one daughter, who is a minor and nominee too. Can she claim her mother’s insurance, as she got to know about her mother’s insurance policy a week ago?
—Name withheld on requestContinue Reading Family member as nominee of deceased policyholder will not merely be custodian