Selecting Nominees

Most financial instruments like fixed deposits, shares and debentures and of course insurance policies offer a nomination facility. Nomination allows the nominee to claim proceeds of the financial instrument in the event of the investor’s death, without having to provide evidence.

In most instances it is the immediate family which gets nominated to avail of the benefits. In most instances, one has an option of changing nominee depending upon circumstances. Check your portfolio. Have you nominated your near and dear for your investments? Please do, so that the distribution of your assets is done as per your wishes should you not get the chance to do it yourself.