Dhiraj Kumar
Asked October 02, 2016

Mistake in the name of nominee

  • 3 Answers
  • 5351 Views

MY FATHER HAS A LIC OF 4 LAKH RUPEES. BY MISTAKE IN THE NOMINEE MY MOTHER NAME HAS BEEN WRITTEN AS ANJALI SINHA INSTEAD OF ASHA SINHA.NOW MY FATHER IS NO MORE.HOW I CAN RECTIFY THIS MISTAKE TO RECOVER THE MONEY?

Answers 3

Yes, by filing application in LIC office & Affidavit is needed for it of rectification of name of mother

Agree Comment 2 Agrees almost 4 years ago

You have to trace root of writing wrong name on policy and accordingly move application. If mistake is by ur father in nomine application , then establish fact that  Anjali SINHA & ASHA SINHA is one and same person with supporting documents.

In case, you are unable to do above without inconvenience, then proceed in court for order in petition for letters of administration 

 

Agree Comment 1 Agree almost 4 years ago

 

 Nominee is the person selected by the policyholder (your father) to receive the benefit in case of death of the life insured thus giving a valid discharge to the insurer (insurance company) on settlement of claim under a life insurance policy. Normally the nominee has to have insurance interest in the life of the assured. In this case, your mother and you have a direct insurable interest in the life of your father and hence this aspect goes in your favour as you both are the immediate family members of the deceased policy holder. You and your mother are also the beneficial nominee as per the Insurance Laws (Amendment) Act 2015 amending amongst other sections, section 39 (1) of the Insurance Act 1938 which deals with nomination.

However, only the life assured (your father) could give a change of name request to the Insurance company to change the nominee. The insurance company will not accept the request of name change either from you or your mother.

Hence, you have recourse to obtain a succession certificate under the Indian Succession Act 1925. It is important to note that this Act would have no application in case of a testamentary succession, i.e., in a case where there is a will. The Act would thus, only apply in a case where a Hindu male or female dies without making a will and leaves behind various classes of heirs and property. Hence, if your father has not made a will, you can move the civil court and get a succession certificate showing that ANJALI SINHA and you are the only legal heirs to the estate and property of your father. Using the succession certificate that the court has given you, you can submit the same to the Insurance Company who may insist that your mother submit an affidavit and publish an insertion in the newspapers that Anjali Sinha is the legal wife of your late father and the name of Asha Sinha has been included by mistake. This process would work with the Insurance Company.

 

If you father has made a WILL and has mentioned your mother as the claimant to the Life Insurance Policy, you can file a civil suit for declaration claiming 100% of the proceeds of the insurance payment as the nominee and make the Insurance Company the respondent. After the suit is decided, the decree of declaration can be used to get the money from the insurance company.

 

Please make a representation (Send a letter) first to the Insurance Company and ensure that in the civil suit for declaration, you ask for both interest and costs from the Insurance Company from the date of your representation letter till the date of final disbursal. The insurance company should not keep the money with them on purely technical grounds and hence claim interest and costs from the insurance company as well.

 

Agree Comment 0 Agrees almost 4 years ago

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