Today, we will discuss how a person invests in mutual funds, but if he dies in the future, how will the nominee withdraw his money?

1. First, if you invest some money, you have to make a nomination. As per SEBI rules, it is important to add a nominee to any Demat account, like we do with banks and post offices.
2. Keep your family members informed about your investments.
3. If you have opened a Demat account through a broker or app, note down all the information, including the ID and password, in a diary and keep telling members about it.
4. If the investment person dies for any reason, and you are the nominee, you will first have to obtain a death certificate from a government-owned office.
5. You are a nominee, you will need to submit a few documents for identification.
6. You will need to provide your bank account details, in which case you can submit a canceled check.
7. You will need to collect a claim form to withdraw money from the broker through whom you are investing.
8. Claim forms need to be collected to withdraw money from the broker through which the invested person is investing.
9. The nominee will have to collect the requesting transmission from the company in which the invested person invests in the mutual fund.

Conclusion

These five necessary documents must be submitted to the asset management company from where you invested in mutual funds, MC company. After this process, they will verify, and they will give you the option to continue this scheme and withdraw money. If you want to withdraw money, it will take 30 days.