Yes. As the Policy Owner, you have the option to nominate a Beneficiary or Beneficiaries to receive the Benefit payable under your Policy, upon your death. The option to nominate a Beneficiary is subject to the completion and return of the Nomination of Beneficiaries Form to Momentum Life and to the conditions listed in the relevant Policy Wording.
If no Beneficiary/ies have been nominated and the Policy Owner is deceased, the claim payment will be made to the executor of the Policy Owner’s estate.
If a Beneficiary dies before the Policy Owner, their nomination to receive Benefits payable under the Policy ends. Their share is then proportionally distributed to the remaining Beneficiary/ies (if applicable), unless the Policy Owner updates their Beneficiaries nomination.