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I seek guidance for changing the assignment of Life Insurance policies made under MWP Act to protect interest of child. The Insurance policies were taken by father for Education & Marriage of minor girl child presently of 11 years. After 16 of marriage the wife/ mother of girl child has become Super Egoistic & is seeking Divorce as she has firmly decided to live as an Independent working woman & father has to take care of entire Educational & Marriage expenses . The Insurance policies will mature at girl Childs age of 16, 18, 21 & 25. The mother may remarry & therefore how to safeguard girls interest?
Sir, in case you are not satisfied with the policy you can return or close it within 15 days of initiation, but if you have already crossed the time nothing much can be done except for talking to a policy expert who can guide you properly. For further details contact us on our helpline number.