Nominee and Beneficiary?

[Praveen]

What is the difference between nominee and beneficiary?
Is it one and the same thing?
How do I change the beneficiary on my life insurance policy?

[MTG]

Beneficiary
The person(s) or entity(ies) (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the insured.
Nomination
An act by which the policy holders authorises another person to receive the policy moneys. The person so authorised is called Nominee.

Source - licindia.com

[Policy_expert]

How do I change the beneficiary on my life insurance policy?
You will have to write a application to your insurance company with your policy photocopy. Some time you have to fill designated form that your insurer will provide. After receiving it the insurer will issue an endorsement on your policy.

[Praveen]

Thanks MTG and Policy_Expert.