Who can be a nominee in a life insurance policy and nomination procedure

A nominee is the person who receives the proceeds of a life insurance plan in case of death of the policy holder during the policy term.

Buying a life insurance policy is one of the best ways to protect the future of your dependents. However, to ensure that the proceeds of your policy reach your loved ones in case of your death, you need to assign a trustworthy person as your nominee while signing up for your insurance plan. This nominee is entitled to claim and receive the policy amount in the unfortunate event of your death during the policy tenure.

A nominee is the person who receives the proceeds of a life insurance plan in case of death of the policy holder during the policy term.

In case your nominee is not your legal heir, mention in your will that the proceeds of your life insurance plan will be received by the nominee. This will prevent any disputes during the time of settlement of the claim.

Nomination procedure

You can appoint the nominee for your life insurance policy while filling out the plan's application form. You will need to furnish additional details, such as the nominee's full name, address, age, relation with you, etc. in the nomination form.

If you wish, you can also appoint more than one person as nominee for your life insurance plan. If the nominees are your legal heirs, you can specify the percentage of the sum assured you want each to receive in case of your death. As a policy holder,you have the right to cancel or change the nomination any time before the policy matures.

You can also appoint a minor child (below 18 years of age) as your nominee. However,you need to designate an adult as an appointee for the nomination.


This article (“Article”) is licensed to or is the property of Religare Corporate Services Limited (“RCSL”, which would mean to include its group companies, wherever applicable). This Article should not be reproduced or redistributed to any person or in any form in whole or in part without prior and explicit written consent of RCSL. This Article reflects the views of the author or content provider, and RCSL disclaims all liability, whatsoever, arising out of the substance or contents of this Article or in connection thereto, including any matter relating to infringement of intellectual property rights. This Article is purely for the purpose of public awareness and education and any reference to any financial product should not be construed as an offer or solicitation of an offer to buy or sell any securities, financial instruments or insurance. RCSL does not guarantee the accuracy or completeness of the information contained herein and there can be errors both typographical and in content. The Article may be referred only as a general guide and not as the ultimate source of the subject matter discussed. The Article must not be relied upon for taking personal, medical, legal or financial decisions and an appropriate professional must be consulted for specific advice tailored to specific situations. RCSL and any persons connected thereto do not accept any liability arising from the use of this Article. This disclaimer forms a part of, and should be read in consonance with, the Terms and Conditions of this site.

Copyright 2012 Religare. All rights reserved. Trademarks are the property of their respective owners.

This site is best viewed with Internet Explorer 7.0 or higher; Firefox 2.0 or higher.