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All about Deceased Investment Claim.

14, Oct 2021
All about Deceased Investment Claim.

All About Deceased Investment Claim

Frequently asked question relating to deceased Investment:

For any other query, please reach out to Share Samadhan at samadhan@sharesamadhan.com

Or call at 011-4909 4015 or 8800 33 2200

  • How do I redeem deceased parent mutual fund?

A: You first need to get the transmission of units done in your favor by presenting legal documents and then you can redeem the mutual funds of your deceased parents.

 

  • What happens to a person's investments when he or she dies?

A: If a person dies, his or her investments can be claimed by legal heirs. To prove the legal heir ship, legal heirs need to present legal documents like Legal Heir Certificate or Succession Certificate.

 

  • How do you claim money from mutual funds?

A: If your investments in Mutual funds are in demat form, you can submit claim request online. If your Mutual Funds are in physical form, you need to submit claim documents manually to your fund house or their Registrar

 

  • How to claim shares of deceased?

A: To claim shares of deceased, legal heir need to carry out the process of Transmission of Shares. For Transmission, legal heir need to present legal documents like Succession Certificate, Probate of Will or Legal heir Certificate etc. along with other documents for transmission.

  • How to claim insurance of deceased?

A: To claim insurance of deceased, nominee (If appointed) need to file claim documents with Insurance company. If there is no nominee, then legal heir need to present legal documents like succession certificate or probate of will.

  • How to claim bank account of deceased?

A: To claim Bank account of the deceased, the nominee need to file for Claim cum Closure request along with his KYC documents. If there is no nominee appointed in the bank account, then legal documents like Succession Certificate or Probate of will to be done.

  • How to claim lockers of deceased?

A: To claim lockers of deceased, the nominee need to file claim and then bank will open locker in presence of nominee and handover the belongings of locker to nominee. If there is no nominee, then legal heir will have  to present legal claim documents.

  • How to claim demat account of deceased?

A: For claim of demat account of deceased, if the value of Investment is more than Rs.5 lakh, then legal heir need to present Succession Certificate or Probate of will for claim of shares. If the value is less than 5 lakhs, legal heir can claim without legal documents.

  • How to claim PF of deceased?

A: The immediate legal heir can claim the PF, Pension fund  and EDLI if the employee has deceased during the service.

  •  Do I have to obtain Succession Certificate for investments, if I am the sole heir of my parents

A: Even if you are sole legal heir of parents, you will have to obtain succession certificate provided you are not appointed as nominee in the investment

 

For any other query, please reach out to Share Samadhan at samadhan@sharesamadhan.com

Or call at 011-4909 4015 or 8800 33 2200

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