A beneficiary nomination form is a legal declaration, stating an individual’s nominated beneficiaries in the event of death. There is no limit to the amount of beneficiaries, as long as the share of benefit for proceeds totals 100%.

Please advise your clients of the importance of a beneficiary nomination form. These should be updated after any life changing event, for example marriage, divorce, new additions to the family. These should be kept with the Human Resources Manager or Department at the company.

If no nomination form is completed the policy will define whether the benefit will be paid to the member’s estate or whether payment is at the Employer’s full discretion.

Should you require more information, please contact your Associate or the office.

Thank you and regards,
The TSA Team

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All information provided in TSA Connect newsletters is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.