What will happen if death occurs to the optee member under the scheme in a Joint / HUF / Partnership account?
As and when a claim is made under the scheme on account of death of the optee member, the deposit account will be closed and the deposit amount will be paid to the account holder/s (Joint account holders/HUF members/Partners of the Partnership firm) as per the mandate given by them at the time of opening the account.
Related Questions
- In case the person who has not been given life cover dies in a Joint/HUF/Partnership account whether the insured amount will be paid?
- Before such closure of account by the Bank if death occurs to the optee member whether insurance claim amount is payable ?
- What will happen if death occurs to the optee member under the scheme in a Joint / HUF / Partnership account?
