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More than 1 nominee for HDFC Term Life Insurance

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04 Aug, 2021 by  Ravi Kumar


I am planning to take a term insurance from HDFC Term Life. I was interested in having more than 1 nominee, my agent tells me that it is possible but the claim will be split among the nominees in the share put by me. So, if I put my wife, father and brother as nominee, I have to also write their respective shares in the term insurance form. Whereas, my preference is to say give 100% to any one nominee, however, if that nominee is not alive at the time of the claim then give 100% to another nominee as mentioned by me. Basically, rather than splitting the claim amount I want to give preference order for multiple nominees. Is this possible?

Also, if I make my wife the nominee, the full claim amount will be transferred to her bank account at the time of the claim, irrespective if it is under MWP or not. In that case, how does MWP differ from non-MWP?


Ravi K

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Term Life Insurance

1 Answer


Your agent is right. You can hv multiple nominee but you can not give a preference order there. If you do not allocate share they would be getting equal share. If you take policy under MWP Act then only your wife & kids ( as a group) would be entitled to that claim amount. No other relative would hv any claim over it - not even your mother who is otherwise a class 1 legal hier & has equal right in your estate along with your wife & kids.

Hope this helps

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05 Aug, 2021
Ravi Kumar
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06 Aug, 2021
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