Quote Originally Posted by samir View Post
But I have read some where that after your marriage the Life Insurance proceed would must go to your wife. In my case the proceed of old LIC Policy would go to my mother. That is what my concern?
Nominee is the person, whom you have nominated to receive the money. A nominee may not be beneficiary. As far as I remember, in LIC policy you have to give some benefit to wife (as per one court ruling), out of the proceed.