Nominate beneficiaries. You, but not persons acting on your behalf, may nominate beneficiaries to receive the benefit on your death before retirement. Your nomination applies to your benefit (i.e. all your product accounts) and only natural persons may be nominated. Your nomination does not guarantee that your beneficiaries will receive any death benefits because legislation requires the Trustees to use their discretion to allocate the benefit between your dependants and your nominated beneficiaries. Dependants are defined in legislation. The Trustees must consider the extent of their dependency, when allocating benefits. Dependants always include your spouse(s) and all your children, irrespective of their age and including those adopted, from previous marriages or born out of wedlock. Any other person who is financially dependent on you, such as an elderly parent, a family member, a grandchild, a friend or a divorced spouse to whom you are paying maintenance, also qualifies as your dependant. If you nominate that payment must not be made directly to a beneficiary but to a trustee of a trust, the fund will only pay benefits to that trust if the trust is only for the benefit of your beneficiaries. It is important to make and keep your nominations up-to-date and to notify the fund of any special factors you would like the Trustees to be aware of. To make or change your nomination you must complete and sign a Beneficiary Nomination and Change form. This form should be received by the fund while you are still alive, as the fund will not accept a beneficiary nomination form after your death.
Nominate beneficiaries. You may nominate beneficiaries to receive the policy benefits on your death. Beneficiary for Ownership: If you are not the life assured, or if there is more than one life assured, you may nominate a Beneficiary for Ownership. This person will become the owner of the policy after your death if there is a life assured remaining. This is only possible if the policyholder is a natural person. Each policyholder may only nominate one Beneficiary for Ownership. Beneficiary for Proceeds: If the policyholder is a natural person and the only life assured, you may nominate a Beneficiary for Proceeds. This person will receive payment of the proceeds from the policy after your death. Proceeds will be shared equally between those persons nominated unless you specify otherwise. It is important to keep your nominations up-to-date. To change your nomination you must complete and sign a Beneficiary Nomination Form. This form should be received by us while you are still alive, as the Insurer is not obliged to accept a Beneficiary Nomination Form after your death. If you ceded the policy as security, the rights of the person to whom the policy has been ceded takes preference over the rights of beneficiaries, but only if the security cession was recorded in the Insurer’s records.
Nominate beneficiaries. You may nominate one or more beneficiaries to receive the policy benefits upon your death. You may indicate in what proportion they are to share the proceeds, and if you don’t specify this, they will share on an equal basis. Your nomination will have no effect if your beneficiary dies before you. If any of your nominated beneficiaries die before you and you have not made any amendment to your nomination, their portion of the policy benefit will be paid to the other nominated beneficiaries on an equal basis. It is important to keep your nominations up to date. To change your nomination you must complete and sign a Beneficiary Nomination Form. This form should be received by us while you are still alive, as the Insurer is not obliged to accept a Beneficiary Nomination Form after your death.
Nominate beneficiaries. You have to elect the percentage of the total policy benefit that your beneficiaries may receive upon your death, in return for receiving top-ups for the duration of policy. The balance of your total policy benefit is paid out to the Insurer upon your death. Top-ups made after your death will be recovered by the Insurer. You may nominate one or more beneficiaries to receive your elected percentage of the policy benefits upon your death. You may indicate in what proportion they are to share the proceeds, and if you don’t specify this, they will share on an equal basis. Your nomination will have no effect if your beneficiary dies before you. If any of your nominated beneficiaries die before you and you have not made any amendment to your nomination, their portion of the policy benefit will be paid to the other nominated beneficiaries on an equal basis. It is important to keep your nominations up to date. To change your nomination you must complete and sign (electronically or otherwise if required) a Living Annuity Plus Beneficiary Change Form. This form should be received by us while you are still alive, as the Insurer is not obliged to accept a Beneficiary Nomination Form after your death.
Nominate beneficiaries. You may nominate one or more beneficiaries to receive the policy benefits upon your death. You may indicate in what proportion they are to share the proceeds, and if you don’t specify this, they will share on an equal basis. Your nomination will have no effect if your beneficiary dies before you. It is important to keep your nominations up to date. To change your nomination you must complete and sign a Beneficiary Nomination Form. This form should be received by us while you are still alive, as the Insurer is not obliged to accept a Beneficiary Nomination Form after your death.
Nominate beneficiaries. You may nominate beneficiaries to receive the policy benefits on your death.
Nominate beneficiaries. If any of your nominated beneficiaries die before you and you have not made any amendment to your nomination, their portion of the policy benefit will be paid to the other nominated beneficiaries on an equal basis. It is important to keep your nominations up to date. To change your nomination you must complete and sign a Beneficiary Nomination Form. This form should be received by us while you are still alive, as the Insurer is not obliged to accept a Beneficiary Nomination Form after your death.
