Life Insurance Term
Nominee
The person who receives your policy's payout.
What is Nominee?
A nominee is the person you name to receive the policy benefit — most importantly, the death benefit in a life policy. Keeping nominee details accurate and updated ensures a smooth, dispute-free payout.
You can usually name more than one nominee and specify each one's share.
Example
If you name your spouse as nominee, they receive the sum assured on your death.
Related terms
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