Every time you fill out a form for an investment, whether it's a Fixed Deposit or Insurance, Shares or a Mutual Fund, or even opening a new bank account, a separate area will ask you to mention a 'Nominee.'
Many people who are investing or opening an account leave this column blank, but it shouldn’t.
Nomination is a service that allows a deposit account holder, investor in mutual funds/other financial instruments, or safe deposit locker holder to name an individual who can claim the proceeds of the deposit account, investment, or contents of the safe deposit locker after the original depositor, investor, or locker holder dies.
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