Can you name a minor as a nominee for investments and insurance?
You can nominate a minor for insurance policies, mutual funds, fixed deposits, and EPF accounts, as there is no age limit for this. However, a guardian must be appointed to handle the funds until the minor reaches the age of 18. When filling out the nomination forms, you will need to provide the minor's information, the guardian's details, the guardian's KYC paperwork, and proof of the relationship between the guardian and the child.
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