What happens to your investment if you haven’t added a nominee

Before making any investment, we usually think only about the return and often tend to miss out adding a nominee. Many investors procrastinate this task thinking it is just another formality.

However, it is an equally important task that ensures easy transfer of your wealth to your loved ones in case of your sudden demise. The whole effort of investing for your dependents and securing their future financially would be pointless if they are not able to get the benefits.

In conversation with Money9, Deepak Jain, head of sales at Edelweiss Asset Management Company explains the importance of nomination for mutual fund investors.

“Many investors have suffered the consequences of not filing a nomination, we have observed in the last 18 months. This is a very small, yet important exercise for investors,” Jain explains.

Watch full video to find out what will happen to your investments if you have not added a nominee.