Lic claimed

Mrityunjoy Ganguly (Querist) 19 June 2012 This query is : Resolved
Dear Sir,
My wife was expire six months ago. before marriage my wife purchase 2 nos LIC policy and the nominee was her mother. I have a son 1.8years of age. Now my Query is Am i eligible to get the claimed amount?

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ajay sethi (Expert) 19 June 2012
nominee is a trustee for legal heirs . on your wife death all legal heirs have right on said lic policy proceeds

Amit Minocha (Expert) 19 June 2012
The cheque would only go in the name of the nominee of policy and none else. Other LRs need to approach the receiver of the amount for their share.

ajay sethi (Expert) 19 June 2012
there is a 1984 Supreme Court ruling in the case of Sarbati Devi Vs Usha Devi which stated: "A nomination made under Section 39 of the Insurance Act only indicates the hand which is authorised to receive the amount. On payment of which the insurer gets a valid discharge of its liabilities under the policy and that the amount can be claimed by heirs of the assured in accordance with the law of succession governing them. The language of Section 39 is not capable of altering the course of succession under the law."