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Beshak Insurance dictionary

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Term Life Insurance
  1. A nominee needs to be an adult to be able to receive a claims payout.
  2. When you nominate a minor as a beneficiary in your policy, you will be required to mention the name of an appointee. The appointee will be the person with whom the proceeds/benefits under the Policy will be parked with, in case the nominee remains a minor on the date of claim payment.