Insurance Expert - Answered on Sep 23, 2022
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.
It is best to keep the name in your Aadhar card and Passport and PAN same as that of your policy document.
Once your name has been updated on PAN Card, speak with your insurer requesting for endorsement.
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You can also have different nominees or same nominees for all these plans. The nominee will get a benefit whether it is one policy or more than 1 policy.
However, the premiums of both may differ depending on the underwriting process as per the insurer.