The purpose of having life insurance is to ensure that your loved ones are financially protected should anything happen to you. As such, you would want to ensure that your loved ones can access the funds quickly. With a nomination, the policy moneys can be disbursed much faster without the need to obtain the Grant of Probate or Letter of Administration or Distribution Order.

Without a nomination, your insurance company is not obligated to release the policy money until your loved ones obtain either of these documents, which may take several years.
 
Things I Should Know

Learn about dealing with intermediaries

Making a complaint
 
What Else Can I Do?

Read our FAQs on making nominations

Download the booklet on the importance of making nominations
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If you are 18 years old and above, you can nominate whoever you want. Nomination is usually done at the time you apply for a life insurance policy, but you can nominate anyone at any other time, when necessary. All it takes is filling up a nomination form provided by your insurance company which usually requires the following details of your nominee:
 
Name
Date of Birth
Identity card or birth certificate number; and
Address
 
The nomination form must be signed by a witness who is 18 years old and above, of sound mental health and who is also not your nominee. Ensure that your insurance company endorses the nomination, on either the policy document or the nomination form. However, be aware that not all nominees will receive the policy moneys beneficially or for their own use.
 
  Muslim policy owner  
 

The nominee irrespective of relationship can only receive the policy moneys as an executor
   

The policy moneys must be distributed according to Islamic laws.
 
     
 
  Non-Muslim policy owner  
 

It depends on the relationship between the policy owner and the nominee
   

A nominee can receive his or her share of the policy moneys either beneficially or as a trustee or an executor.
 
     
 
 
The insurance company shall pay the policy moneys to the applicant who produces the Grant of Probate or Letters of Administration or Distribution Order. However, the insurance company may at its discretion disburse the policy moneys to a claimant without the relevant documents under the following circumstances:
 
If the claimant is the spouse, child or parent of the policy owner

If the claimant is someone who is entitled to receive the Grant of Probate or Letters of Administration or Distribution Order based on the satisfaction of the insurance company. This applies in the event the policy owner has no spouse, child or parent still living.
 
When a nomination is not made, the person receiving the policy moneys is only receiving it as an executor and must distribute it in accordance to the will of the deceased or applicable laws of distribution.
 
 
  Download
here
For more detailed information on changing nominees, the role of beneficiaries, trustees and more, please download our booklet on the importance of making nominations, or contact your insurance agent or company.
 
 
 
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