A nominee is the person you choose to receive the money from your insurance policy after your death. This is a very important step when buying life insurance. If you don’t add a nominee, your family might face problems while claiming the money later.
The nominee can be your spouse, child, parents, or any trusted person. You can even change your nominee later if needed. Some people also add more than one nominee and decide how much each will get.
The nominee’s role is to claim the money by submitting documents like death certificate, ID proof, and the policy document. If the nominee is a minor, you need to appoint an adult guardian.
Choosing the right nominee ensures that your loved ones get the support they need after you’re gone. Always update nominee details if your situation changes.
