Make a policy nomination

A policy nomination refers to the process of designating a person who will receive the benefits of the insurance policy in the event of death of the life assured.

To make a nomination over a policy, the policyowner must be the life assured under the policy and at least 18 years old.

Nomination of nominees is not applicable for:

• Policy that had been collaterally or conditionally assigned
• Policy covering multiple life assureds
• Policy with secondary life assured appointed
• Policy under CPF Minimum Sum Scheme (MSS) annuity

All life, term, personal accident, ElderShield Comprehensive, and ElderShield ValuePlus policies that provide death coverage are eligible for nomination.

There are two types of nominations:

• Any legal entity can be nominated, including individuals and organisations
• The policyholder will retain full rights and ownership over the policy
• Only death benefits will be payable to the nominees. All living benefits will be paid to the policyholder.

Notes:

• A new revocable nomination form will override a previous revocable nomination made (if any)
• Dependants' Protection Scheme (DPS) customers should select this nomination type

• Only the policyholder's spouse or children can be nominated
• A nominee or witness can also be named as the trustee
• The policyholder can appoint himself or herself as one of the trustees, but they cannot receive the policy proceeds or give consent to revoke the nomination. Only another trustee can do so.
• The policyholder loses all rights and ownership of the policy. All proceeds (living and death benefits) from the policy belong to the nominees named.
• All proceeds will be payable to any one trustee (who is not the policyholder). If the policyholder is the sole trustee, the proceeds will be paid to the nominees.

Note: If a nominee passes away before the policyholder, his or her share of the policy proceeds will go to the nominee’s estate.