My brother had bought a term plan on his life for Rs1 crore (more than 4 years ago). He had a wife and 2 children who were the beneficiaries. Both children were below 7 years of age. As his children were very young, I was made the nominee. However, a few weeks ago the entire family was killed in a car crash. As the nominee, can I file a claim even though the beneficiaries are no more? There are other legal heirs in the family, and my brother died intestate.
—Jagdish Khurana
Yes, you as a nominee are entitled to file the claim. You would however need to distribute the proceeds among the legal heirs. Since your brother died without a Will, legal heirs would be decided as per succession laws. If you are a legal heir, then you will be entitled to your share of the death benefit.
