Choosing a nominee (and why it matters more than you think)

Naming a nominee takes about thirty seconds on the application, so most people give it thirty seconds of thought. Then years later a family discovers the payout is going to an ex-spouse, or to a parent who has since passed away, and a claim that should have taken weeks takes many months.

What a nominee actually is

Your nominee is the person the insurer pays when a claim arises. They're the receiver of the money, and for most family situations, naming the right person is all it takes for things to go smoothly.

Who to name

• The person who actually depends on your income, usually your spouse, or your parents if they rely on you.
• If you name a minor child, you must also appoint an adult guardian to receive the money on their behalf. Skipping this causes real delays.
• You can split the payout across several nominees by percentage. If you want that, say so explicitly rather than assuming your family will sort it out.

The mistake almost everyone makes

They name someone once and never look again. Life moves on, you marry, you have children, a parent passes away, a marriage ends. The nominee on a policy bought at 25 is frequently wrong by 35. Nothing updates automatically; only you can change it.

Tell them the policy exists

This sounds obvious and is skipped constantly. Unclaimed policies sit with insurers simply because nobody knew about them. Tell your nominee the insurer's name, roughly what the cover is, and where the documents live. A claim can't be made for a policy nobody knows exists.

Review it after every big life event

Marriage, a child, a divorce, a death in the family, each is a prompt to check your nominee. It's a small form, usually a few minutes online or one message to us. Insubees customers can simply ask and we'll handle the update.

You buy insurance so your family is looked after. Getting the nominee right is what makes sure the money actually reaches them.

This guide is general information to help you understand your options, not financial or tax advice. Please consider your own circumstances and consult a qualified professional where needed.