Home |Life Insurance | Can we update the nominee later for life insurance? Can we have multiple nominee so that we can split the claim amount percentage wise. How the nominee will claim the payout?

Can we update the nominee later for life insurance? Can we have multiple nominee so that we can split the claim amount percentage wise. How the nominee will claim the payout?

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Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on March 01,2022

Yes , you can change the nominee by giving an application for change of nominee .

Yes , you can have multiple nominees by giving percentages .

Claim documents need to be submitted for claim settlement . All nominees have to submit their KYC along with cancelled cheques 

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