Nominate a Beneficiary
As a friendly society, Engage Mutual are able to offer you the additional benefit of nominating a beneficiary. This enables them to pay out part of your cash lump sum quicker, with a minimum of formality.
Under the Friendly Societies Act 1992 and under the Society's rules, the maximum sum you can nominate is £5,000. This is an overall maximum, not the maximum per policy or per beneficiary; so if you held three plans, for example, the nomination limit would be £5,000 and not £15,000 (3 x £5,000).
If you have nominated your spouse and get divorced, the nomination remains in place. If you remarry, any previous nomination ceases. In this event you should inform Enage Mutual. You may make a new nomination if you wish.