Change of Nomination

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Change of Nomination

Procedure for the change of nomination in LIC Policy

Nominee:-The process by which a person can be identified to receive the policy amount (Death Claim) if the policyholder dies during the policy term.

A policyholder can do nomination at the time of proposal by giving the details of nominee in the proposal form. If nomination cannot be done at the time of proposal. It can also be done later. If nomination is done later, it has to be effected by giving notice in a prescribed form of LIC & it has to be endorsed on the back of the policy document. A nomination is not required to be stamped.

Process of change the nomination in LIC Policy: A policy holder can change his nomination during the policy term and it can be changed any number of times. To change the nomination in LIC policy, the policyholder has to give a notice to LIC OF INDIA in a specified form (Form 3750) and nomination has to be endorsed. Further, the policyholder can remove it without any prior notice to the existing nominee. Nomination can be done and changed any time by the Life Assured during the policy term in the LIC OF INDIA’s office.

At the time of nomination the following documents are required

1. Relation proof of life assured and the person being nominated.

2. Form 3750 is also required

3. Policy bond is required for endorsement

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    Documents required for Change of nomination in LIC Policy
    1. Nomination form for change of adult nominees : You can get the nomination change form from your nearest LIC branch office or download it from here(Click Here). It should be filled in duplicate(two copies).
    2. Id Proof of both (policyholder and the new nominee): Any of Pan, Addhar, DL, Voter Card, Passport etc.
    3. Origional LIC Policy Bond : The policyholder should bring the origional policy bond in the branch for endorsement of the new nominee.
    4. MR of Rs 118/-: A miscellaneous reciept of Rs 118 is to be attached alongwith. This can be obtained from the branch cash counter.

    Nomination form for change of minor nominees : A nominee can be minor or major. When there is a minor nominee and the policy holder wants to change the minor nominee in that case form no. 3265 is required. The same can be downloaded by clicking here.

    Nomination form for adding nominee for the first time : When a policy is taken on the name of a minor, by default the proposer is the nominee in that case. But when the minor life assured becomes major (attains 18yrs of age), he needs to nominate someone. The form required in that case is 3264. The same can be downloaded by clicking here.

    Note that : Multiple nominations can be possible in a LIC Policy. While making multiple nominees, the policyholder need to specify the percentage share of each, their ages and their relation with the life assured. 

    Attentions: The policy holder should insist his advisor to make successive nominees in his LIC policy. So that in case of mishappening with the first nominee and the life assured together the successive nomination becomes effective automatically. 

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