Thursday, August 15, 2013

Why your (life insurance policy) nomination may NOT be good enough?

If you have purchased a life insurance policy, congratulations! 

Most of the time, you would name your children as the beneficiaries of your life insurance policy. This is because you are concerned about their maintenance, education, living expenses and medical needs, when you are not there to provide for them. It is good that you put your child's welfare as your paramount consideration.

However merely nominating your spouse and children as beneficiaries may not be as secure as you think. The proceeds from your insurance policy may possibly be more than enough to financially provide for your child when you're no longer around. However, if your child is minor he/she may not be matured enough to handle such a big sum of money or he/ she may pass the money to unscrupulous people to manage.

The solution is to appoint Rockwills Trustee Bhd as Trustee when you name your child as the beneficiaries of the life insurance policy.

As the appointed Corporate Trustee, we will:
  • PROTECT your insurance proceeds against the claims by your creditors;
  • Ensure it would not be frozen and delayed by the legal process;
  • DISTRIBUTE it to your beneficiaries when they reach 18 years old;
  • GUARANTEE your wishes would be realized.

UNormination S.166 Trust Nomination - The Structure 

 



Our S.166 Nomination Trust is a must for parents who regard their child's welfare as their utmost concern, especially those who have insurance policies to benefit minor children. It is only RM188 per policy. Why wait? Contact us today.

Make certain that your children will be able to benefit from what you set out to do for them. Act now. Consult our professional Estate Planner now to achieve the best for your children.