Our new beneficiary nomination feature launches on individual Personal Menu Life Cover and Life or Critical Illness Cover plans. This feature allows plan owners to nominate who’ll receive their payout.
Why are we introducing this?
We want to give clients peace of mind their payout will go to the correct person at their moment of truth. Currently the only way they can choose beneficiaries is to complete a trust form and this can be complex.
Beneficiary nomination provides a simpler alternative. If your client’s situation is straightforward and they know who they currently want to benefit, then use beneficiary nomination.
The payout automatically goes to the nominated beneficiary if your client dies. And beneficiaries can be changed at any time, with no need for probate or the completion of a trust form.
