Insurance

Since 1st September 2009 a new Insurance Nomination law allows you to nominate who you wish to receive the proceeds from your insurance policy in the event of your death.

It is not compulsory to make a nomination, but if you choose not to, the insurance company can pay up to $150,000 of the policy proceeds to anyone who qualifies as a “proper claimant” under the Insurance Act .

For more details, please visit this website

You should call up your insurance agent to get you the forms for the nomination. One form per insurance policy.  Each form has the individual insurance company logo, please don’t mix them up if you have multiple insurance company policies!