Your nominee is the person who receives the death benefit from your LIC policy. Most people set their nominee when they first buy the policy, often naming a parent. Then they get married, have children, or their family situation changes, and the nominee stays the same for 20 years. This is a mistake.
I once helped a family where the policyholder had named his mother as nominee, then got married and had two children. He passed away, and the claim amount went to his elderly mother, not his wife and children. His mother was generous and shared the money, but that's not always how it works. Update your nominee when your life changes.
How to change nominee at an LIC branch. Take Form 3750 (Nomination form), fill in the new nominee's name, relationship, date of birth, and address. You need two witnesses who sign the form. Attach a photocopy of the new nominee's ID proof (Aadhaar or PAN). Submit at any LIC branch along with your original policy bond. The branch processes this within two to four weeks and sends you a revised policy document.
How to change nominee online. Log in to licindia.in with your policy credentials. Go to Policy Services, then Nomination. You can update the nominee online for digital policies registered on the portal. Some older policy formats still require a branch visit.
Important rules: You can name multiple nominees with percentage splits (for example, 60% to spouse and 40% to child). A minor nominee requires an appointee, a trusted adult who manages the claim until the nominee turns 18. An appointee should ideally be different from the nominee.
If you're not sure whether your nominee is current, check your policy bond. It lists the nominee on the first or second page. Call me at 9415313434 and I'll help you file the nomination change form if you're in Gorakhpur.
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