Hello, I am a beneficiary to a life insu...

Asked by amanzemtotie on 26-02-2020 22:02:31
Question posted in the Insurance Law category relating to Western Cape
Question value: R 0.00

Hello, I am a beneficiary to a life insurance policy in South Africa.  I am a South African national, but currently live in Canada. My husband has a bank account in South Africa, but I am currently not on the account as I haven't been back to do it in person. The insurance company is refusing to deposit the money into his account with my authorisation and I do not want it deposited into a Canadian bank as I need to pay bills in South Africa and the exchange fees are very high. There is also another beneficiary, the executor of the estate, who could receive the funds. I am at a stalemate with the insurance company. Can they legally require me to have a bank account in my name to be able to receive the payout?  Thank you!

Ask your OWN Legal Question!

Answer to the Question

Posted by Att. Patrick on 28-02-2020 12:06:53

Hi there,

I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment.

I assume that the company is willing to make the payment to you into your Canadian bank account? But you just don't want them to.

There is no reason why the company should not act on your original written instructions to effect payment into your husband's South African bank account.

Perhaps what is needed to break the stalemate is for a lawyer to write a letter to the company demanding that they comply with your instructions and make the payment into your husband's South African bank account, alternatively into the lawyer's trust banking account. 

Att. Patrick

Please remember this is a dialog if you have follow-up questions please make the required payment, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make payments for their questions.

If you would like to view the entire answer, you will need to either login or register a FREE account.


DISCLAIMER: Advice or answers from Lawyers on SA Legal Advice are not substitutes for the proper advice of an Lawyer. SA Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not SA Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.