Can A Mutual Fund Service In Pune Help Me Add A Nominee?

Published: 2025-06-09
Views: 6
Author: goldenmean
Published in: Finance

Most of us invest in mutual funds to secure our future and build financial security for our loved ones. Whether it’s for your child’s education, your retirement, or just to grow your money, every rupee you invest comes with a purpose. But what if something unexpected happens to you? Have you made sure that your money reaches your family smoothly?

This is where nomination comes into play. And if you're investing through trusted mutual fund distribution companies in Pune, you must understand this simple but powerful feature.

This article can help you understand what nomination means, why it’s important, and how to do it. 

What Is Nomination in Mutual Funds?

A nomination is like a safety net for your investments. It allows you to name a person (or more) who will receive your mutual fund units in case something happens to you. Think of it as assigning a caretaker for your investments.Let’s say you’ve invested in a mutual fund. If you nominate your spouse as the nominee, then in case of your demise, your spouse can claim the mutual fund units directly. Without a nominee, your family might have to go through courts, paperwork, and a lot of delays just to get access to your investments. 

Why Is Nomination So Important?

Nomination is not just a formality, it makes the process of transferring your money smooth, quick, and legally sound. Here's why every investor should do it:

• Smooth Transfer: No legal hurdles. Your nominee can claim the units easily.

• Quick Process: The mutual fund company can process the claim faster with fewer documents.

• Cost-Effective: There are no charges to make or change a nomination.

• Emotional Relief: Your family doesn’t have to run around during a difficult time.

If you’re using a mutual fund service in Pune, they’ll usually help you complete the nomination process at the time of your investment. But if you skipped it earlier, don’t worry, you can still add or update your nominee anytime. 

Who Can You Nominate?

Nomination is flexible. You can nominate:

• One person or up to three people

• A family member, friend, or even a minor (along with a guardian)

• A trust or official body (in special cases)

When nominating more than one person, you must mention the percentage share each person should get. The total must add up to 100%.Tip: Choose someone you trust and make sure they’re aware of their nomination. 

What Documents Are Needed for a Nominee to Claim Units?

In the event of the investor’s death, the nominee needs to submit:

• A filled transmission form

• Copy of the death certificate

• KYC documents (PAN, Aadhaar, etc.)

• Signature proof

• Any additional documents requested by the AMC

This process is much simpler than the legal process your family will have to go through if no nomination is registered.

Can You Change or Cancel a Nomination Later?

Absolutely! Life changes, and so can your nomination. Whether it’s marriage, a change in relationships, or you simply change your mind, you can:

• Add a new nominee

• Remove an existing one

• Change the percentage share

• Opt out completely

Just submit a new Nomination Form, and it will replace the old one.

Conclusion:

You’ve worked hard to invest in your family’s future. Don’t let that effort go to waste by skipping such a simple, free, and powerful step like nomination. Whether you're investing through a trusted expert or doing it on your own, always make sure your investments are secured for your loved ones.