Judgment sheds light on beneficiary changes in living annuities – Moonstone Information Refinery

Judgment sheds light on beneficiary changes in living annuities – Moonstone Information Refinery

A High Court judgment has provided clarification on how beneficiary nominations in living annuities are to be assessed, particularly where a power of attorney is involved and where nomination forms are submitted close to – or even after – the policyholder’s death. In a decision delivered on 6 January, the High Court in Pretoria dismissed a widow’s claim to the proceeds of a living annuity, finding that a later nomination in favour of the decease…