NotifyNominee also helps in safely and securely managing money deposits and investments keeping the family in the loop
Financial institutions help us to invest and grow our hard-earned money safely and securely. But, have you ever thought what could happen to the money after your death if you don’t share the nominee details with the family? Well, that is a major problem in India. Many people shy away from sharing their investment details even from the closest family members. Here comes NotifyNominee to save your hard-earned money.
NotifyNominee is a new app that has been developed to fight against the problem of unclaimed money. The app ensures the nominees of the investor have all the financial details for claiming their rightful money from financial institutions and banks, after the death of the investor. The app also keeps track of the user’s wellbeing.
The users can record a video message or a legal will for their loved one using the NotifyNominee app. This video message or a legal will be handed over to the user’s nominee or family members when the user is not alive. According to IRDAI data, as much as Rs 15,167 crore money of policyholders in India is lying unclaimed with 23 life insurance companies.
The Reserve Bank of India has revealed that as much as Rs 11,302 crore belonging to over 3 crore account holders is lying unclaimed with 64 Indian banks. These numbers are growing every year. There is a need for a digital solution to overcoming such situations and here comes NotifyNominee. It can be accessed using the mobile app or the website as well. The app is available on both Android and iOS platforms.