What is Nominee? Definition of Nominee?
Nominee for LIC Policy
Nominee for LIC Policy – A nominee means a person who can elect to take your investment or handover your money on behalf of you. In case if you are not live or met sudden death the nominee will takeover your all responsibilities.
You can appoint your nominee yourself for all your investments & savings, blood relation only like Mother, Father, Spouse, Children’s and Siblings.
Q) Can I change my nominee name?
A) Yes, you can
Q) How many times can I change my nominee name?
A) You can change the number of times
Q) Can I put my best friend’s name as a nominee?
A) No. You can not.