Venkata Siva Malleswari
in Commercial Law
Asked July 23, 2017

Requirement of Notary

  • 1 Answer
  • 680 Views

I want to change the nominee in my insurance. As per policy terms,they are saying it is not possible. They want notary from old nominee stating that i don't have any objections to change the nominee. The old nominee is my brother, now i want to change it to my wife. I have done this policy before marriage. I want a notary for that, which i can give it to my brother and I can take a signature on it.

Answer 1

Hi, thank you for writing to us. Here's our response.

According to The Notaries Act ,1952 read along with The Notaries Rules, 1956, the Notary is allowed to notarize the documents until it falls within its ambit. As per policy terms of the Insurance if you are allowed to change the nominee, then you can go seek help from the Notary for such. You must first seek whether there is a format for the change of nominee from the Insurance company, if not then you either have to make an affidavit for the change of nominee and get it signed by the Notary of your State.

This affidavit shall be executed on non-judicial stamp paper of appropriate value.  It shall be signed by each deponent. You will also be required to furnish Notarizartion fee to the Notary as per the rules under the Notaries Rules, 1956. The change of nominee can be done in favour of your wife, but all you have to do is to get the affidavit notarized by the Notary and then submit this to your Insurance Company. 

Hope this response helps you, write to us for further queries. 

Agree Comment 0 Agrees about 4 years ago

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