Appointee and Nominee in LIC Term Policy

POSTED BY paacharya ON September 14, 2013 10:44 pm COMMENTS (4)

I am in the process of finalizing the purchase of Anmol Jeevan-I term insurance policy.
Intention is to safeguard the upkeep and well-being of my child who is 2 years old.
In order to proceed further,I’m requesting suggestions / comments on the following:
a)Being a ‘proposer’ of the policy I want to assign the ‘Appointee’ as my sister or my wife’s sister.
while keeping my child(age 2 years) and my wife as ‘Nominees’.
b) What is the Appointee’s role in a situation where the ‘Nominee’ is minor. Will he/she get the entire sum assured in one shot-one go, if the Proposer is no more.
c) What is the best approach/suggestion in a term policy and the roles of ‘Nominee’ and ‘Appointee’where there is a working couple who want to secure their child in their absence considering a worst case scenario that both the parents are non-existent.
Your valuable suggestions would help in making a quicker decision to go forward with the purchase of the policy.
Thanks and Best Regards

4 replies on this article “Appointee and Nominee in LIC Term Policy”

  1. vimata says:

    Is there a reply for this query??

  2. Vimata says:

    i have the same question
    can someone reply to this valid question please

  3. I got this on net

    If the nominees are minors, then you need to name an appointee as well. The appointee, who must be an adult, will be paid the sum assured if you die while your nominees are still minors. You will need to instruct the appointee directly or through a will to take care of the money for your intended nominees. If you die when your nominees are adults, they will be paid the sum assured directly.

    Source –

    For a working couple, the best way to put a nominee is that the spouse should be made nominee and at the same time, you should write a WILL too which explains what should happen if both are no more.


    1. dhanishya says:

      In case the nominee is a minor then once the money is received by the appointee – what are the powers/limitations/legal bindings on the appointee to manage the funds for the benefit of the minor which funds actually belong to the minor

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