04 May 2016
When IRDA has made mandatory to mention name of nominee ( either minor or major) in all life insurance policies , In case of life insurance policies as proposed by HUF ( considered being as an entity not a different person, as per IT act and rules) through its Karta, query is Why all life insurance companies, are declining to mention name of nominees (though mentioned by proposer -Karta of HUF in proposal form) in the Insurance policy.
04 May 2016
My contention is that, Karta of HUF as a proposer of that life insurance policy can nominate , any one (either coparcner or member of that HUF only) , as nominee for life insurance policy. preoragtive either to continue / close that HUF after demise of Karta will be to surviving coparcner / member.
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