I took two term insurance costing 1 Cr and 60 lakhs from different companies. My query is regarding my name in term plans purchased.

When I applied for term insurance it asked for given name as well as surname, hence my name is registered in the term plan as ‘Satheesh Natarajan’ as my father name is Natarajan.

Now my name is N Satheesh in school certificate, Aadhar card and in my official record of central government department where I am working.
My name on PAN card, passport are registered as Satheesh Natarajan since they also asking surname while applying.

Is it ok having names as N Satheesh as well as Satheesh Natarajan

in different records (Here N stands for my father name Natarajan). Or, do I have to do something regarding that? 

Kindly advise me in this regard.

Ans: Hi Kamal
Please ensure that the name registered on your daughter's SSLC (10th standard) certificate matches the name on her birth certificate. The birth certificate is a primary document for everyone, whereas an Aadhaar card is not considered fundamental (even to obtain an Aadhaar, proof of date of birth is required).

Additionally, the government plans to implement a "One Nation, One Card" system. In the future, inconsistencies in names may pose problems when completing any course or applying for jobs, as well as when opening a bank account or obtaining PF or PAN. Therefore, it is crucial to prevent any potential issues related to name discrepancies.

If the names on the birth certificate and the SSLC mark sheet do not match, I recommend consulting a Notary Public for guidance.

Ans: Hi Kamal,
Greetings!
Yes.
I want to address an important aspect of the admission process. It is crucial to ensure that the candidate's name is consistent across all documents to avoid unnecessary confusion during admission.

As you noted, there are no issues with the birth certificate and the SSLC/10th mark sheet, as both documents display the same name. However, I understand that the Aadhaar card includes the father's name, which differs from the other two records. It would be advisable to update the Aadhaar card to reflect the correct name. This adjustment will help prevent complications in the future.

I would like to share my own experience on this matter. In my case, while my name and initial are consistent across all records, there was a discrepancy where my initial appeared before the name in one document and after the name in another. This inconsistency was not accepted by the government agency. Consequently, I had to apply for a name change to align all records.

Based on my experience, I suggest you apply for a name change on the Aadhaar card, as you already have supporting documents like the birth certificate and 10th class mark sheet. If you feel that you need further assistance, please consider consulting a notary public nearby.

Lastly, please don’t delay this process, as it could hinder your registration on the NTA website.

with regards.

Ans: Hello Alia
There will be no effect on your NEET counseling. Yet it is recommended that you have ample time to correct the corrections in the marks sheets in a legal way which will help you in the future also.

Follow me if you like the reply. Else ask again.
Thanks
Radheshyam

Ans: Hello;

A person may take multiple term insurance policies but if he suddenly expires then the insurers may team up and agree on some pro-rata of sum assured which they deem fit as the amount to secure financial well-being of person's dependents.

Nobody would want their family to run long drawn legal cases with insurance companies behind them.

Therefore it is best to keep it plain and simple with one term insurance cover.

Many companies offer term life cover in which you may enhance the sum assured at certain life stages.

Benefit is you get enhanced cover for increased responsibilities without going through underwriting check again.

Do a study of claim settlement ratio over a span of years, capital adequacy, reputation, cost, riders on offer and go for the one which suits your requirement or else consult an insurance advisor.

It is better to buy term cover with accident benefit and critical illness riders.

Best wishes;