Locked-in Investments After Death: Nomination Key for Family Access

• * Locked-in investments like PPF, EPF, and NPS have specific rules for family access after the investor's death, differing from regular fixed deposits.
• * Having a valid nominee significantly simplifies the process for beneficiaries to claim funds from schemes like EPF, NPS, and PPF.
• * Without a nominee, legal heirs must provide legal proof (e.g., succession certificate), leading to potential delays and complications in accessing funds.
• * Each investment product and institution (e.g., Post Office PPF, NPS, ELSS) has distinct procedures, forms, and KYC requirements for claims.
• * To avoid future issues, it is crucial to keep nominees updated for all accounts and maintain a clear list of investments accessible to a trusted family member.

Why It Matters: Ensure proper nomination for family to access locked-in investments after your death.