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Scottish Widows now lets life insurance applicants name up to five beneficiaries to speed payouts and skip probate.
Scottish Widows has launched a beneficiary nomination feature for new life insurance policies, allowing customers to name up to five beneficiaries during application to speed up payouts and avoid probate delays.
The tool, available for direct and UnderwriteMe portal applications, lets users update nominees anytime without extra paperwork or trustee approval.
Advisers can tailor nominations across policies, improving flexibility.
The move aims to close a beneficiary gap and simplify claims, with industry experts praising its potential to ensure life cover is paid as intended.
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Scottish Widows ahora permite a los solicitantes de seguros de vida nombrar hasta cinco beneficiarios para acelerar los pagos y evitar el testamento.