Common use of Nominate beneficiaries Clause in Contracts

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 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 (electronically or otherwise if required) 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.