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Insurance Expert - Answered on Sep 23, 2022

Sanjib Jha is the CEO of Coverfox Insurance. His expertise includes health and auto insurance. He has over 22 years of experience in the financial sector. He has completed his post-graduation from the Institute of Company Secretaries of India.... more
Natrajan Question by Natrajan on Sep 23, 2022Hindi
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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: In such cases, it is best advised to change your name /format and keep it same as in all identity documents so that during claim one does not have to attach declarations to the insurer.

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.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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