It’s very nice to share knowledge with others. u got unique knowledge in different cases. I read all ur articles about online term policy
my queries are
1. Will husband be authorized person to receive death benefits in case online term plans of his wife even if her own mom & dad alive?
Because in some I read articles saying that after marriage of women is legal heir without WILL. Am I correct?
can u coin this scenario nomination/legal heir in case of
a.unmarried women b.unmarried men c.married man d.married women e.married widow as per Indian law
many people get confused “who will be the owner of his/her assets after demise
2.one of my friend got Aegon life issued policy sum assured for nonearning member(wife) more than rs.25L that is rs.36L and got sum assured rs.78L for himself.
3.he got policy of bharti axa policy sum asurd for nonearning member(wife) more than rs.25L that is rs.50L and for himself got sum asurd rs.75L. morever it is offering accidental death benefit rider to no-earning person also.
u cant believ this just checkout bharti axa&aegonlife for e-quotes and enter ur mob no. anonymously they wil definitly cal back u. u just ask for joint life policy&tel them ur anual income 4L & ur wif is no-earning. i am sure u wil get above said e-quote in ur email id within 5min. my question in all your’s articles u said term insurance is only earning member & moreover bajaz allianz is the only the company offering joint life online term. are aegonlife&bharti axa miseling policy?
4. will husb get sum asur amount if his wif demis in above said 2&3 cases of joint life policy term plan?
Naresh-1) Nominee acts like a trustee to hand over the asset to legal heir. Nominee does not have any rights to use the asset on his own. He can use the claim amount only in case he is the nominee and also the first legal heir of the deceased.
Yes, after the marriage wife/husband will be considered as first legal heirs (even if your parents alive). This rule applies to all men and women.
2) Forget about term insurance, legally speaking no company will issue the policy to non-earning person. Because if you are not earning, then what is the question of financial dependents and all? In your friend’s case, your friend may get sum assured death claim amount in case of sad demise of his wife. But in reality agent or some officials might have wrongly guided your friend and filled that his wife is earning.
I will not say it as MIS-SELLING only, but MISS-BUYING also. Because I know that your friend not filled the proposal form. Hence, officials or agents might have filled it according to their comfort. He is at danger zone.