I have an endowment ULIP policy in the name of my husband who left us two years back. We are still not divorced. I was the one who used to pay premiums for 4 years. Since now he is no more staying with us, I preferred to surrender the policy and did not paid premiums for the fifth year. Its an ULIP and the insurance company has withdrawn the policy. Recently I received a cheque from the insurance company issued to my husband because he is the policyholder. I have not informed this to my husband, because I fear he will encash the cheque and may not give me or my daughter the money. I have paid the premiums for four years with my self-earned money. He is a very irresponsible person and now also if I handover this cheque to him, he will misuse the funds. My daughter is the nominee and I am the appointee. The communication address and mobile number for the insurance policy is registered in my name, so he is not aware of any of the developments. I think he is not even aware of this policy as well. Since I did not deposit the cheque so far it might get dishonoured. Now my query is, How can I get the benefit of this policy amount. Is it possible to convince the insurance company to issue cheque in my daughter’s name. Or am I doing anything illegal? please answer...
