Nominations

Why do I have to nominate?

Nomination is important to ensure that your loved ones will receive the protection as intended by you and that policy moneys may be paid out by insurers without any delay.

Where no nomination is made, the policy moneys will be paid out to your lawful executor (if you have made a Will) or your lawful administrator (if no Will has been made) – this process will take a while.

Who can I nominate?

You are free to nominate any individual(s) you want.

However, not all nominee(s) will receive the policy moneys beneficially or for their own use. Depending on your marital status and who you nominate, nominations may produce 'surprising' results for the nominee(s).

Likewise, nominations by a Muslim policy owner and a non-Muslim policy owner will have different consequences. Hence, please read this information carefully before you proceed to nominate.

• How do you create a trust policy? Trust policy will be created:
• if the nominee is your spouse or child;or
• if the nominee is your parent (provided that there is no living spouse or child at the time you make the nomination).

What if I nominate someone else as my nominee(s)?

In such as case, you are creating a non-trust policy. Here, your nominee will only receive the policy moneys as executor and distribute the policy moneys in accordance with your Will or where there is no Will, in accordance with applicable distribution laws. If you intend for these nominee(s) to receive the policy moneys beneficially and not as executor, you will need to assign the policy benefits to them.

In brief, if you nominate people other than your spouse, children or parents, make sure to assign the policy benefits to them to ensure that they receive the policy moneys for their own use. Please contact MSIG if you require more information on this.

What about Muslim policy owner?

Nominee(s) irrespective of the relationship with the policy owner can only receive the policy moneys as executor and the policy moneys must be distributed in accordance with Islamic laws.

I did not make any nomination and Will. How will the policy moneys be distributed?

The policy moneys as well as your other assets will be distributed in accordance with applicable distribution laws.

For West Malaysia and Sarawak, the Distribution Act 1958 applies, where the policy moneys and assets will be divided between your surviving spouse, children and parent(s) in certain proportions.

The Distribution Act 1958 is however not applicable to Muslims in West Malaysia and natives in Sarawak. For Sabah, policy moneys and assets will be distributed in accordance with the Intestate Succession Ordinance 1960.

How do I make a nomination?

It is easy to make a nomination. You can download the PA Insurance Nomination Form provided in this website or you may contact us and request for a copy. Complete and return the original PA Insurance Nomination Form to MSIG for our further action – you may wish to refer to the sample completed form for reference.

Please make sure that the form is duly signed and witnessed by someone who is 18 years old and above, of sound mind and not a named nominee, failing which the nomination may be deemed invalid and send back to us via email, fax, or mail.