Manage your policy beneficiaries
Protect the people who matter most
A policy nomination allows you to specify who should receive the benefits from your insurance policy. Making a nomination helps ensure that your policy proceeds are distributed according to your wishes and provides financial support to your loved ones when they need it most.
Whether you are making a nomination for the first time or would like to update an existing nomination, you'll find the information and forms you need below.
Please note that nomination of beneficiaries is not available for the following policy types:
- Corporate-owned policies
- Bank-owned policies
- Juvenile policies
- Third-party owned policies
Why is policy nomination important?
Making a policy nomination can help you:
- Provide financial protection for your loved ones
- Ensure your policy benefits are distributed according to your wishes
- Reduce uncertainty and potential disputes over policy proceeds
- Simplify the claims process for your beneficiaries
Understand the types of policy nomination
Before making a nomination, it's important to understand the two types of nominations available.
Revocable Nomination | Trust Nomination |
Any legal entity (i.e. individual, association or corporation), including spouse and/or children, can be nominated as a beneficiary. | Only spouse and/or children can be nominated as a beneficiary. |
The policy owner will retain full rights and ownership over the policy, and can change or revoke a nomination at any time. | Policy owner lose all rights and ownership of the policy. All proceeds (living and death benefits) from the policy will belong to the beneficiaries. |
Ready to manage your policy nomination?
Revocable nomination
Trust nomination
Frequently Asked Questions
What is a policy nomination?
A policy nomination is the act of naming one or more beneficiaries to receive the benefits from your insurance policy.
Can I change my beneficiary later?
Yes. You may refer to the forms attached above to change your beneficiary depending on your type of nomination.
What's the difference between a trust nomination and a revocable nomination?
A revocable nomination allows you to retain full ownership and control of your policy. A trust nomination gives beneficiaries stronger rights over the policy proceeds and limits your ability to make future changes.
How do I submit my nomination form?
Please refer to the form submission instructions provided in the step-by-step guide accompanying each form.
