समृद्धि की पाठशाला

So you love your wife and kids very much and have taken insurance policies to cover them in case of any mis happenings to you . But have you taken additional precautions to ensure that money certainly goes to the hand of your wife / kids. You will say yes I have nominated them , putting  wife's name in nominee column. Do you know that this is not sufficient  , a nominee is only a receiver of  money not the owner. Other family members can claim or file a legal suite to get a share of it , then your beloved wife and kids may suffer . Then what I have to do  : Take the insurance (term or endowment or any life insurance ) under "Married Women Property Act".  Any insurance policy taken by the husband on his own life and endorsed under the MWP Act in favour of his wife or children, will always be their property. Once the policy is bought under the MWP Act, it simply means that any insurance policy taken by the husband and endorsed under the MWPA in favour of his ...