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About this tool
Draft a nomination change letter to your insurer with share percentages that add to 100, minor appointee and payout split.
A nomination change request is the written instruction that asks an insurer to cancel the nominee currently on a policy and register new ones, with each nominee's share stated as a percentage. This generator writes that letter under section 39 of the Insurance Act, 1938, checks the shares add to exactly 100%, converts each share into a rupee amount from the sum assured, works out each nominee's age on the letter date, and flags where section 39(2) requires an appointee because a nominee is under 18. For policyholders updating a nomination after marriage, a birth, a divorce or the death of the existing nominee.
Open Insurance Nominee Change Request Generator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
The letter will not generate until the percentages total exactly 100, which is the commonest reason a nomination form is returned.
Ages are computed on the letter date and an appointee is demanded where section 39(2) requires one.
Parents, spouse and children are marked as beneficial nominees under s.39(7); other relatives are flagged as holding the money for the legal heirs.
Write to the insurer's policy servicing office with the policy number, the existing nominee, the new nominee or nominees with their relationship, date of birth and share percentage, and ask for a written endorsement confirming the change. Section 39(6) of the Insurance Act, 1938 lets you change a nomination any time before maturity, but the change only binds the insurer once it has notice of it and has registered it - so keep the acknowledgement.
Yes, exactly 100%. An insurer cannot pay out a claim on shares that total 97% or 103%, so a form that does not balance is returned unregistered - and if the policyholder has died in the meantime, the old nomination is what stands.
Section 39(2) of the Insurance Act, 1938 requires the policyholder to appoint an appointee to receive the money during the nominee's minority. Majority is 18 under the Indian Majority Act, 1875, so note the date each minor nominee turns 18 and update the nomination to drop the appointee at that point.
Not necessarily. Since the 2015 amendment, section 39(7) makes a parent, spouse, child, or spouse and children a 'beneficial nominee' who is entitled to the proceeds. Any other nominee - a sibling, a friend, a grandchild - receives the money but holds it for the legal heirs under succession law. If you want a specific person to keep the money, a nomination alone may not achieve it; take advice and make a will.
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