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Trustee For Insurance Policy (U-Nominate)"I can't be my own Trustee for my Insurance plan, what should I do ?"
U-Nominate FAQ – REP
1. How much is U-Nominate ? RM 50. 2. What are the benefits of U-Nominate ? i. Policy owner retains control of the policy ii. Policy owner can make changes to the nominees iii. Rockwills Trustee Berhad acts as the neutral trustee to consent to changes in the policy ie. Nomination iv. Proceeds from the insurance monies may be used for minor beneficiaries’ (under 18) maintenance, education and medical needs 3. Is there any trust deed attached to U-Nominate ? No. Rockwills Trustee Berhad will act as a trustee of the policy and distribute the insurance proceeds to the nominees named in the insurance policy. 4. Will the policy owner receive a Trust ID Card from Rockwills Trustee Berhad ? No. 5. How much commission will I receive from selling U-Nominate ? 40% of RM 50 plus future deferred income of 30% of the actual Trust Administration fee charged to the trust fund. 6. What are the documents to be submitted to Rockwills Trustee Berhad ? i. Insurance Company Nomination Form ii. Rockwills Trustee U-Nominate Form iii. Photocopy of Policy Owner’s NRIC iv. Full payment of RM 50 7. How much is Rockwills Trustee Bhd’s Trust Administration fee? Reminder :
Before setting up a Trust, you need to be aware of anti-money laundering regulations. Click HERE for more details. |
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