The Economic Times

Lakhs of loss can be saved in 15 minutes: Bengaluru CA warns about common financial mistake that leads to legal problems

A Bengaluru-based chartered accountant, Meenal Goel, has highlighted how a simple oversight in updating an insurance nominee can lead to long legal delays and extra costs. She shared a case where a man failed to update his nominee after his wifes death, and when he later passed away, his children had to go through a 14-month legal process to claim the 75 lakh policy, spending around 85,000 in the process.