A beneficiary is a person who can receive all or part of your super and insurance payouts when you die.
Many Australians – an estimated half – put off nominating a beneficiary because the topic is confronting or seen as too hard. It doesn’t have to be though. There are simple steps you can take to make sure your wishes are taken into account.
There are two ways to nominate your beneficiaries:
The kind of nomination you make will depend on your circumstances. There may be tax and other issues to think about, so consider getting advice before you make a decision.
If you die without making a nomination, we’ll pay your benefit to your dependant/s and/or legal personal representative.