Declaration And Indemnity In Anticipation Of Payment
Of
Death Benefit
DEED OF INDEMNITY
It is very
easy for someone to make a false declaration. You would not be happy if a third
party sent a false declaration to us or forged your signature and we then paid
out to that third party who is not entitled to claim under your policy. If that
did happen you would expect us to pay the benefits to you. The same problem can
arise if the estate of the policyholder or assignee is insolvent.
To cover this
situation we insist that the individual asking us to pay benefits to him,
completes a Deed of Indemnity. This deed includes an undertaking by the
individual(s) making the claim to indemnify us against the consequences of a
wrongful payment. If you complete the deed of indemnity and it is subsequently
shown that you are not legally entitled to the benefit, you must return any
money paid to you and reimburse us for any losses which we suffer as a result
of the payment.
This
declaration can only be sworn before a Commissioner for Oaths/Solicitor/Notary
Public. If it is not witnessed by a Commissioner for Oaths/Solicitor/Notary
Public, we cannot accept it.
Both the
Statutory declaration and the Deed of Indemnity are legal documents. .
More here
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