You can pick up to 5 beneficiaries - the people who will receive all or a share of your life cover benefit after you pass away. A beneficiary can be just about anyone you choose, so long as they are a person (we can’t pay money directly to a corporation, charity or other organisation).

You may want to keep in mind that if a beneficiary is under the age of 16 when you pass away, the payment will be made to their legal guardian. Also, if a beneficiary dies before you, the nomination ends, and money will not be paid to their estate.

When you pick your beneficiaries, you must also decide how much of the benefit amount they’ll get (as a percentage).

We recommend choosing your beneficiaries when you buy your policy. Beneficiaries can be changed or added at any time, but you’ll need to fill out actual paperwork to do this. (Unfortunately, this can’t be done online or over the phone. This is to help stop others from making changes to your policy without your permission.)