In case of the death of the policyholder, who is entitled to the claim amount from the insurance company?
Normally, the policyholder specifies a nominee at the time of buying the policy
In case of the death of the policyholder, who is entitled to the claim amount from the insurance company?
Surendra Rathod, Jaipur
Normally, the policyholder specifies a nominee at the time of buying the policy; if the policyholder dies, the nominee gets the proceeds. If the nominee happens to be a minor, the proceeds are handed over to the person the policyholder appointed as a custodian of the money till the nominee comes of age. If the policyholder didn’t nominate anyone, the claim is paid to his legal heirs.