Welcome to the Molo Nominate My Beneficiary AI agent! I'm here to guide you through the process of updating your beneficiary and nominee details. Feel free to ask me any questions anytime. Let's begin!
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What information do I need to update my beneficiaries?
Legal name
Alternative name
Founded year
Number of employees
Prefer not to say
Company type
Other
Industry
Area served
hennie@molo.page
Phone
0718607703
Molo Nominate My Beneficiary
09 Aug 2025
Dependent vs. Nominee: Who is Entitled to a Death Benefit?
The two main categories are:
- Dependents: The law takes a very broad view to protect those who relied on the deceased. This includes legal dependents (like spouses and children) and factual dependents (anyone who was financially dependent on the deceased at the time of death).
- Nominees: A nominee is a person formally designated by the member on a nomination form. It is crucial to remember that a nomination is only a guiding instruction for the Board. The Board is legally obligated to prioritize the needs of dependents first.
It is important to reiterate that claims are not processed through the deceased's will or estate. The pension fund death benefit is a separate entity that the Board of Trustees manages under specific legislation.
