You will need to add at least 1 beneficiary to your policy during the application. Beneficiaries are people or entities who will receive your payout when you pass on. A beneficiary can be a natural person, a trust, or an institution. 

If you have chosen more than one beneficiary, it is important to specify the % of the portion of the pay out that should go to each beneficiary. So, let us say you've listed two family members as your beneficiaries. You can decide to split the pay out as you wish for example, 50% for each family member; 70% for one member / 30% for the other etc. Be sure to nominate your beneficiaries and select the amounts you would like them to receive when you apply: if you don't, your pay out will form part of your estate.

While we ask you to choose your beneficiaries during the onboarding process, if, at a later stage you decide to remove, add, or change beneficiaries, you can do so via the EasyEquities app. 

Ensure you have correctly captured the beneficiary’s full name, date of birth, and contact details. Once we are notified of the new beneficiary details, we'll send you an updated policy schedule for you to review. It is your responsibility to confirm that all the information provided in the updated policy schedule is correct. While mistakes can happen, in this case, they could cause delays such as not being able to pay your beneficiaries at all.

We will not contact or notify your beneficiaries unless you have specifically requested us to do so. It is recommended to inform your beneficiaries about your EasyProtect policy and provide them with relevant information.

Please note that we can ONLY pay out to beneficiaries who hold a South African bank account in their own name.