POSTED BY June 25, 2014 6:00 pm ONE COMMENTON
My query is related to insurance sector. I have a policy with a Insurance company. Earlier my mother was the nominee in my policy.
But unfortunately last year my both parents expired. Now I have only one sister. She is married. I want to add her as nominee in my insurance policy. Then I request the insurance company to add my sister as nominee then they refuse on the ground that nominee should be under direct blood relation.
But when I checked the Insurance act and IRDA act, I didn’t found any such clause there. Please guide me whether Insurance company is correct or not and what I can do to fight against it.
Thankful in advance.