What Happens to Your Accounts & Investments After Death in India
When someone passes away, their money doesn't disappear — but reaching it can be slow and confusing. Here's what happens to each kind of asset, what your family needs, and how to make it simple in advance.
Last updated: June 2026. General information, not legal advice. Procedures vary by institution and amount — check with the specific bank, insurer or registrar.
Bank accounts & fixed deposits
Once the bank is informed of the death, the account is frozen. A registered nominee or a joint holder can claim the balance with the death certificate and their KYC. With no nominee, the bank may ask for a succession certificate or legal heir certificate — slow and sometimes costly, especially for larger balances. An inactive account eventually moves to the RBI's unclaimed-deposits fund (see our guide to unclaimed money).
Mutual funds & shares
Units and securities are transmitted to the nominee or legal heir on submission of the death certificate, KYC and a transmission request to the AMC/RTA (CAMS or KFintech) or the depository (NSDL/CDSL). A nominee makes this far smoother; without one, expect additional legal documents.
Life & health insurance
The nominee files a death claim with the insurer along with the death certificate, the policy document and KYC. Life insurance is often the most straightforward asset to claim — provided the family knows the policy exists and has the number.
EPF, PPF & NPS
Each has its own nomination and claim process. EPF death claims go through the EPFO; PPF balances pass to the nominee or legal heir; NPS has defined withdrawal rules for nominees. Keeping nominations current avoids long delays.
Property & physical assets
Real estate, vehicles, gold and locker contents transfer per the will or succession law, usually needing mutation of records, the will or succession certificate, and identity proof. This is where a clear will and good records matter most.
The pattern behind every delay
Notice the common requirement across all of them: the family must know the asset exists and have its details. The death certificate and forms are routine; the real bottleneck is information. Families routinely miss an FD, a policy or a folio simply because it was never written down anywhere they could find.
A simple checklist to do now
- List every account, policy, investment, property and locker — with numbers and institutions.
- Add or update a nominee on each.
- Write a will so final ownership is clear.
- Store the list where your family can reach it if you're gone — securely, not on a sticky note.
How Nivi makes step 4 effortless
Nivi is an encrypted digital space for exactly this list — accounts, policies, investments, property, passwords and instructions — encrypted on your device so only you can read it. You choose who should receive what, and Nivi's verified handover releases access to those loved ones only after a death certificate is checked and their identity confirmed. Your family gets a clear map instead of a guessing game.