Any legal entity-individual, association or corporation can be a beneficiary. However, the nomination is only applicable for distribution of the death proceeds. This means that while the policyowner is alive, he continues to retain all rights and control over his policy (including changes to the policy) and any proceeds will be payable to the policyowner. After making a Revocable Nomination, a policyowner can, on his own, change his nomination at any time.
To download the nomination forms, click here.