Sentences with phrase «nominated beneficiary»
A "nominated beneficiary" is a person or entity chosen ahead of time to receive certain benefits or assets, such as money or property, in the event of someone's death or the completion of a certain event. They are selected as the intended recipient of those benefits. Full definition
If the rules of your fund allow it, you can nominate the beneficiary for your super with your fund.
ato.gov.au
This means you can not nominate the beneficiaries of your superannuation through your will.
An income stream which has reverted to a nominated beneficiary, usually a spouse, on the death of the member.
A superannuation income stream that automatically reverts to a nominated beneficiary on the death of its current recipient.
It is an agreement between two parties namely, an insurance company and policy holder where the insurance company assures to pay an assured sum of money to the nominated beneficiary in case of sudden unfortunate demise of policy holder during the stipulated time period of the policy.
... if the deceased owned life insurance and nominated a beneficiary of the policy, the proceeds of that policy would not pass into the deceased's estate, but would go directly to the nominated beneficiary
In most cases, when a person dies their super fund pays their remaining super to their nominated beneficiary.
When a person dies, their super balance is usually paid to their nominated beneficiary.
If there is no nominated beneficiary, the proceeds will go to the policy owner or the policy owner's estate.
Binding death benefit nomination: Where the super fund, in the event of your death, must pay your superannuation benefit to your nominated beneficiary, unless it would be unlawful to do so.
I am the nominated beneficiary of my partner's life insurance.
With standard life insurance, when you die your payout will go to your nominated beneficiaries, whereas with consumer credit insurance, the payout will go to your lender.
If you nominated a «reversionary beneficiary» then the income stream payments will continue to be paid to your nominated beneficiary, such as your spouse or dependant.
A reversionary beneficiary is the nominated dependant beneficiary of a superannuation income stream that automatically reverts to the nominated beneficiary on the death of the superannuation income stream recipient (member).
Tenants in common may pass on their share to a nominated beneficiary in their will.
Where the superannuation fund, in the event of your death, must pay your superannuation benefit to your nominated beneficiary, unless it would be unlawful to do so.
Life Insurance is an agreement between an insurance company and a policyholder, under which the insurer guarantees to pay an assured some of the money to the nominated beneficiary in the unfortunate event of the policyholder's demise during the term of the policy.
Your dependents or nominated beneficiaries will receive a one - time amount which helps in financially securing themselves.
In the event of the person insured dying during the policy term and while the premiums are being paid, nominated beneficiaries will receive the sum insured.
If you die during the insured period, your nominated beneficiaries receive the death benefit.