A beneficiary is the person (or people, or even an organisation) you choose to receive the insurance payout if you die while the policy is in force.

Having a named beneficiary makes sure the money goes exactly where you want it to, meaning that the money can be used straightaway to cover living expenses, debts, mortgage, or funeral costs. Without a beneficiary, the payout may go to your estate and be tied up in probate.

You can add beneficiaries to Life Cover, Funeral Cover and Accidental Death Cover using the form below. 

1. A separate Nominated Beneficiary Form must be used for each person insured.
2. If at the time of the event giving rise to the claim, the Policy Owner(s) has nominated a beneficiary/beneficiaries under the policy, Asteron Life as the underwriter of AA Life Insurance policies will pay the specified benefit(s) to that Nominated Beneficiary/Beneficiaries, subject to clear establishment of identity. If no beneficiary is nominated for any benefit(s) under the Policy, the benefit(s) are paid to the Policy Owner(s).
3. The Policy Owner(s) may cancel or change the Nominated Beneficiaries and the portions specified for each Nominated Beneficiary at any time prior to the death of the person insured by completing a new Nominated Beneficiary Form. The new Nominated Beneficiary Form will revoke and replace all previous Nominated Beneficiary Forms if received by Asteron Life prior to the event giving rise to a claim under the Policy. To cancel nominations without replacing them, the Policy Owner(s) must give Asteron Life a Nominated Beneficiary Form with the beneficiary section and the Schedule of Benefit Allocation crossed out and initialled by the Policy Owner(s).
4. Payment of a benefit to a Nominated Beneficiary can be legally challenged in certain circumstances. For example, payment can be challenged where there is intent to defeat creditors or a spouse. Changing circumstances could impact on the allocation of the sums insured and intended recipients. The Policy Owner(s) should review his/her/its personal circumstances regularly and if necessary, seek legal advice.
5. The Policy Owner(s) may nominate any number of beneficiaries. If more than two individual beneficiaries are nominated, please use another page from another form to add this form.
6. Where Asteron Life is liable to pay a benefit under the Policy, and the amount payable exceeds the amount specified to the Nominated Beneficiary/Beneficiaries, Asteron Life will pay that surplus amount to the surviving Policy Owner(s). 
7. If a Nominated Beneficiary dies before the Person Insured, any benefit payable to the Nominated Beneficiary will be paid to the Nominated Beneficiary’s estate. If this is not what the Policy Owner(s) wants, then the Policy Owner(s) should tick the ‘Cancel on death of Beneficiary’ box in the Nominated Beneficiary Form, which will automatically cancel the nomination after the death of the Person Insured. Alternatively, following the death of the Nominated Beneficiary but prior to the death of the Person Insured and any other event giving rise to a claim, the Policy Owner(s) should provide Asteron Life with a new Nominated Beneficiary Form setting out the remaining Beneficiary/ies.
8. Children can be nominated as beneficiaries with no minimum age. It is suggested that legal advice be sought to ensure estate planning measures are put in place for children to have appropriate support in receiving/managing the funds. If no other provisions are made, then the legal guardian of the child will be required to claim payment on their behalf.
9. A change of ownership of the Policy will automatically terminate all existing nominations. This does not apply to a change of ownership arising from: a. the death of the Person Insured; or b. survivorship of a jointly owned policy.
10. Please provide Asteron Life with the address and contact details of charities who have been nominated as beneficiaries.
11. Where there is a claim under the Policy, Asteron Life will communicate with the Policy Owner(s) and not the beneficiary/ies.
12. The Policy Owner(s) must advise Asteron Life of any change of address of Policy Owner(s) and/or Nominated Beneficiary/ Beneficiaries.
13. The Policy Owner(s) should keep a copy of this form.

_{*Provide a valid AA Membership number at time of purchase. Discount applies to the total premium.} 

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