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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.