Insurance Nominee Rule
Insurance Nominee Rule: Will Only the Nominee Get Insurance Benefits After Death? HC’s Landmark Verdict Explained!
Anthony Lane
The Karnataka High Court's landmark ruling has clarified that nominees are trustees of insurance benefits, not absolute beneficiaries. Legal heirs have a right to claim the benefits, ensuring that insurance policies align with personal succession laws. It’s crucial for policyholders to update their nominees regularly to reflect their current family circumstances.
