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.
