Legal heirs issue related lic

Querist : Anonymous (Querist) 07 February 2021 This query is : Resolved
My brother died due to health issue, he was married since 2yrs (no kids) his wife looking for remarry,
his wife was nominee in LIC, where she was about to get 10 lakh immediately, 1lakh per year and 30 lakh at the time of maturity.
By lawyersclubindia advice i contacted local advocate for parents share because they were dependent on him,
he advised me to get succession certificate from court then LIC will pay according to shares in bank ac but before that inform LIC not to pay unless we submit succession certificate but before i inform to LIC 10lakh was transferred to his wife's ac.
Now the local advocate of my area is confused he is saying ounces money is transferred rest of remaining amount will also come to her ac only now nothing can be done.

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Quick Summary

This discussion concerns a deceased brother's LIC policy where his wife is the nominee. While the wife initially received a payout, the deceased's parents, who were dependent on him, are seeking their rightful share as legal heirs. Advice suggests obtaining a succession certificate to ensure the LIC funds are distributed according to law, as the nominee holds the money in trust for all legal heirs. The wife's remarriage is irrelevant to the distribution of the policy proceeds.

krishna mohan (Expert) 08 February 2021
You can ask your legal counsel to send legally drafted application if the application made out is rejected and insisted for court order. You can also explore sending a written representation to highest authority in LIC or their Policy grievance Centre Head for quick action as per policy terms. There will be decided case laws similar to this and your advocate can be able to help out since handing the case.

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P. Venu (Expert) 10 February 2021
The facts posted are confused. When the life insured has expired, where is the question of payment at the time of maturity.

There is nothing improper in the insurer making payment to the nominee; but the nominee receives the payment in the capacity as a trustee on behalf of all the legal heirs.

In the instant case the wife is obliged to provide due share to other legal heirs,

In this context, the likelihood of her remarriage is of no consequence.

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Dr J C Vashista (Expert) 14 February 2021
Well analysed, opined and advised by Mr. P Venu, I concur.
Remarriage has no consequence with the amount of LIC policy.
LIC can not withhold policy amount till maturity, which stands matured on the death of policyholder.
Parents can submit an application to LIC to withhold payment of policy amount till they (parents) obtain succession certificate from competent court.

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