LIC Nominee Change Process: While taking the policy, many people make their parents, spouse or children the nominee. But the family situation may change with time. It becomes necessary to update the nominee information after marriage, birth of a child or death of a family member.
LIC Policy Nominee Update: If you have taken a LIC policy and want to change the nominee registered in it, then you can change it easily. The policyholder may decide to change the nominee due to marriage, change in family or any personal reason. For this, there is no need to cancel the entire policy or take a new policy.
Why is it necessary to change the nominee?
While taking the policy, many people make their parents, spouse or children nominees. But the family situation may change with time. It becomes necessary to update the nominee information after marriage, birth of a child or death of a family member. The nominee is the person who receives the policy money after the death of the policyholder, so it is very important to keep the information correct.
How to change nominee in LIC policy?
To change the nominee, you will have to go to the LIC branch or service center of your policy. There the form for changing the nominee has to be filled. In the form, policy number, name of the new nominee, his relationship with you and his complete information have to be given. Apart from this, identity card and important documents can also be asked. In some cases, policy information can also be viewed online, but the facility to change the nominee depends on the type of policy and the process of LIC.
Please check records after changes
After changing the nominee, make sure to check whether the new nominee is correctly registered in the records of LIC or not. There should be no mistake in the spelling of the name, date of birth and relationship. If you have more than one policy, check the nominee in each policy separately. Changing one policy does not itself change the nominee of other policies.
Update immediately if there is any change in the family.
Leaving nominee information outdated for a long time can cause problems later. Therefore, after marriage, birth of a child or major change in the family, definitely check the records of your LIC policy. After updating the nominee, keep the documents related to it safely, this will avoid any problem at the time of claim in future.