You must nominate at least one beneficiary to receive the benefits payable at the time of your death. A beneficiary may be a natural person, a trust, or an institution. Although beneficiaries are usually family members, they can also include friends, neighbours, trusts, etc. 

Once your policy is active and you have appointed beneficiaries, consider letting your loved ones know that they are beneficiaries (or at least that you have this policy with us). Better yet, consider printing out your policy schedule, and placing it in a marked file in a safe place that your loved ones can easily find.

To be double-sure the claim process is as easy as possible, include your policy number and the names of your beneficiaries in your will. It is also advisable to notify the executor of your estate that you hold this policy. 

When the time comes and your claim is approved, we will make a direct payment to your beneficiary/beneficiaries. Unless of course, your beneficiaries are minors (below 18 years of age). In this case, we are legally unable to pay them directly. If you would like to nominate minor beneficiaries, chat with a lawyer, (or your bank) about setting up a trust for them. If you do not have a trust set up for minor beneficiaries, we’ll pay out to your estate. 

If you do not specify any beneficiaries, or they aren't around when you die, we'll pay the money into your estate. After settling your debts, your next of kin will receive the remaining funds, as per the instructions in your will. 

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