Saturday, November 14, 2009


Have you ever wondered who is the legal beneficiary of the insurance claim money? Most people feel that the insurance money will be passed on to their husband /wife and kids as the case may be . However, this is only partially true. As per law, every individual who is related /financially dependent to the insured person has legal claim over the insurance claim money. Lot of people nominate their wife/husband as their nominee in the insurance policy and then they believe that in case of their unfortunate death, the claim money will be passed on to their spouse.
This also is only partially true. Nomination only means that the nominee has the right to claim the money only and not use it . The money is then supposed to be passed on to all other legal claimants of the money. So, in case you want your insurance money to go to a specific person only , then just nominating that person in your policy document is not enough. You also need to prepare a will making it amply clear that the money received from the insurance policy is to be passed on to such specific person. This will also needs to be registered /probated to make it legally binding.
Hence, if you haven't done this, may be its good time to consult your lawyer and prepare a will. Because , the very reason why you pay insurance premiums over donkey years is to ensure that the money is available to your near and dear ones when it is required the most. A "will" will help you ensure that.


  1. Hi Admin,

    I am Carol. I have visited your website and I would like to congratulate you on building such a valuable online resource. I am sure your visitors find your site as useful as I did.
    My site also has relevant information in the same context, which I am sure your visitors will really appreciate. It would be great if we exchange links with each other. It would boost your search engine rankings, as relevant inbound links is the most important criteria for ranking on most search engines. It would also help bring targeted traffic to your site and reach out to a valuable, relevant audience.

    If you are interested then please revert back to me ASAP. If you are not the concerned person then would request to kindly forward the mail to the respective person.
    Waiting for your quick and positive reply.
    Have a great day.

    Thanks and regards

  2. A lot of documentation and formalities are required for Insurance, nomination is not enough....