I want to make my brother’s daughter as a nominee for my life insurance. I am in the process of getting separated from my wife. What is the procedure to change nominee? If something happens to me, will the nominee receive the money or can legal heirs stake a claim to it?
As per insurance guidelines, you can appoint anyone as your nominee or can change your current nominee at any point in time. You will have to just intimate your insurer through a written request wherein the insurer might ask you to give a proper reason behind the choice
