Why adding a nominee for your demat account is important
Between 50,000 and 80,000 crores of assets are unclaimed across demat accounts, mutual funds, insurance, etc. This is because most investors don’t add nominees to their investors. In fact, 72% of Individual investors don’t have a nominee for their demat accounts and mutual fund folios. Even if investors do add nominees, they don’t tell their nominees.
Life is unpredictable, and anything can happen. It’s not a pleasant thought, but making sure life is as comfortable as possible for your loved ones in your absence is a key part of life.
Adding nominations to all your investments, bank accounts, insurance policies, etc and informing your nominees makes life less complicated for them. Otherwise, they’ll have to undergo lengthy legal procedures, delays and additional costs.