In case of death of the nominee or in case the policy holder does not register the nominee, the legal heir has the option of making a claim. But, they too have to prove that they are the real legal heirs.
The legal heir also has the authority to claim the policy.
Claiming a life insurance policy is not an easy process. After the death of the policy holder, when it comes to claiming insurance, the nominee is first known. But, do you know that insurance policy can be claimed if the nominee is not there. In case of non-legal heir nominee, the policy can be claimed.
The beneficiary nominee also has a concept in a life insurance policy. This provision was brought in the Insurance Laws Amendment Act, 2015. If the parent, spouse or children are made a nominee then only the nominee can claim the insurance. There will be no right to claim by legal succession. But if the nominee also dies, in such a situation, the legal heir can claim the insurance benefits.
In which case the legal heir gets the claim
If the nominee is not there, the legal heir has this right. However, for this, the legal heir has to prove that he is the legal heir by giving several types of documents. They have to submit death certificate, beneficiary identity card, policy papers, discharge form in case of going to hospital, post mortem report, hospital records in case of unnatural death.
Apart from this, the legal heir also has to submit a succession certificate issued from a court. This proves that after the deceased policy holder their property has the right to legal heir.
What if there is more than one legal heir?
If there is more than one successor and only one of them makes a claim, then in such a situation it is also necessary to seek consent from all the legal heirs. For this, an affidavit-cum-indemnity bond has to be signed, in which all legal heirs agree. After signing it, all the legal heirs cannot claim separately with the insurance company.
Legal heirs can claim even if no nominee has been registered before the policy maturity. If the policy holder has more than one child and they have not nominated all, then only the nominee will have the right to claim on behalf of the insurance company. However, other children can go to court and claim the legal route.
Also read: How much does a wife get in husband’s family property? Know your rights if you are a woman