A nominee is a person named by the policyholder to receive or facilitate receipt of policy money following the insured person's death, according to the applicable rules. Nomination helps an insurer identify whom to contact and what payment documentation to request. It is closely related to, but not always legally identical with, beneficiary status.
In Nepal, keep the nominee's name, relationship, and identification details accurate and update them when family circumstances change. Whether nomination establishes final ownership of the proceeds depends on law and the contract. An assignment or succession dispute can affect payment, so complicated family arrangements deserve careful documentation.