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Insurance payout to nominee who is minor

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15 May, 2021 by  Pankaj Kumar Gera

My friend recently died of Covid leaving behind their son (major), daughter (minor) and mother. The nomination in the insurance policy is son & daughter (minor) 50% each. How can he claim from the insurance company since daughter is u/g of brother, but the banks are not willing to open a/c u/g of brother.

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Term Life Insurance

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15 May, 2021

Dear Pankaj

Open a joint account of brother and minor sister . No bank will refuse that.

Submit joint account paper to insurance company , money will be credited .

Shailesh

Insurance Samadhan

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15 May, 2021

Mr Pankaj,


We are sorry to know about your loss.


Insurance contracts require an appointee in case the nominee is a minor. Please check the policy copy of your friend & understand who the appointee of his daughter is (there has to be one). The appointee shall collect her share of 50% Sum Assured from the Insurer. You can also speak to the Insurer or the Intermediary through whom your friend had bought this insurance policy for details of the appointee mentioned in the contract. Feel free to revert if you need any more help on this.


Take Care.

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