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Nominee for unmarried man and MWP
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23 Jul, 2022
by Guddu Kr.
Madam/Sir,
How can an unmarried man (i.e 25-28 years) make his wife nominee later and add MWP addendum in term insurance?
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As far as I know, MWPA addendum is only available for married man or woman and can only be opted during the policy purchase. So, an unmarried person doesn't have this option and this cannot be added later as well.
You can still change the nominee later to you wife after you get married. Only the MWPA addendum will not be applicable.
Please let other experts confirm this.