New Delhi, Jan. 29 -- Why does a family's breadwinner insure their life? The answer is simple: to reassure loved ones that if an unfortunate event takes away the primary source of income, financial support will still be available. However, without a nominee recorded in the insurer's books, claim proceeds cannot be disbursed speedily, defeating the very purpose of life insurance.

Beyond being a financial product, life insurance is a promise to protect your family's financial security in their most vulnerable moments. When a policyholder assigns a nominee-whether a spouse, child or parent-it gives insurers clear instructions on whom to pay in the event of death. This clarity reduces procedural delays and avoids unnecessary distress for gri...