Friday, February 22, 2013


Declaration And Indemnity In Anticipation Of Payment Of
Death Benefit


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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