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Discovery beneficiary nomination form 2025

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The document provides instructions for completing a beneficiary nomination form for the Discovery LIFE PLAN. It outlines the necessary steps, including using black ink and printing clearly, and emphasizes that changes to beneficiary details require the policy owner's signature. The form includes sections for listing beneficiaries for both the policy owner and their spouse, as well as revoking any previous nominations.

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Versions	Form popularity	Fillable & printable
2009	4 Satisfied (41 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who can be nominated as a beneficiary?

You can nominate one or more persons. Beneficiaries should include your spouse or partner, your children, any person financially dependent on you (a parent or sometimes even your domestic worker) or any person you want to receive a part of your benefit.

Who can be nominated in a binding death benefit nomination?

Binding and non-binding death benefit nominations can only be made to the deceaseds legal representative or dependant under superannuation law. A reversionary beneficiary must be a dependant under superannuation law.

How to update beneficiary on Discovery app?

Click on log in and enter your username and password. Select the applicable benefit and click on new beneficiary. Ensure that your profile is set to you and your family and select Group Risk. Select the beneficiary type from the drop- down menu.

What are the disadvantages of binding death benefit nominations?

The disadvantages of making a BDBN include: the complexity of ensuring your BDBN is validly made. There are many cases where small issues have affected the validity of a BDBN; just like your Will, you need to review your BDBN regularly and ensure it stays appropriate for your changing circumstances; and.

What does it mean to be nominated as a beneficiary?

What is a nominated beneficiary? Its who you choose to receive a tax-free lump sum (death grant) in the event of your death.

discovery life beneficiary nomination form

Printable discovery beneficiary nomination form Discovery beneficiary nomination form template Discovery beneficiary nomination form pdf Discovery beneficiary nomination form online Discovery beneficiary nomination form 2021 Discovery Life change of beneficiary form Discovery login Discovery Group Risk

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What is the difference between preferred and binding beneficiary?

You can easily nominate preferred beneficiary/ies via MemberOnline or by completing the Beneficiary nomination form. A valid binding beneficiary nomination gives you more certainty over who receives your death benefit as it is legally binding. A binding nomination overrides any preferred nomination you have made.

Who can you nominate as a binding beneficiary?

Binding beneficiary nomination It is a legally binding document, and the Trustee is required to follow a valid binding nomination made by you. You can only nominate dependant(s) or your legal personal representative (estate) in a binding nomination.

What is a beneficiary nomination form?

A beneficiary nomination form is a document that identifies the person or people that you chose to receive the benefits of a pension or life insurance policy in the event of your death. It ensures that the trustees or service provider know who to pay the benefits to.

Discovery beneficiary nomination form 2025

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How to modify Discovery beneficiary nomination form online

See more discovery beneficiary nomination form versions

Complete this form in 5 minutes or less

Got questions?

Who can be nominated as a beneficiary?

Who can be nominated in a binding death benefit nomination?

How to update beneficiary on Discovery app?

What are the disadvantages of binding death benefit nominations?

What does it mean to be nominated as a beneficiary?

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People also ask

What is the difference between preferred and binding beneficiary?

Who can you nominate as a binding beneficiary?

What is a beneficiary nomination form?

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