What is the procedure for a Post Office MIS account after the owner passes away?
The Post Office Monthly Income Scheme (MIS) is a small savings plan that lasts for five years. As reported by Livemint, if the person holding a single MIS account dies, the designated nominee is eligible to claim the funds. If no nominee was named, the legal heirs are entitled to the money. In the case of a joint account, the remaining account holder or holders are permitted to keep the account active.
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