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Glacier Financial Solutions Pty Ltd v Motanyane and Others (2022/036777) [2024] ZAGPJHC 1325 (23 October 2024)
High Court interpleader over living annuity death benefits. The court accepted Nonhlanhla’s claim, rejected those of Palesa and Pheteho, and awarded costs against them.
Majiedt N.O and Another v Prinsloo (641/2021) [2023] ZAFSHC 201 (19 May 2023)
The court held that section 63 of the Long-Term Insurance Act did not protect life insurance proceeds paid directly to a nominated beneficiary.
Rossouw v Momentum (A division of MMI Group Limited) and Others (5430/20) [2020] ZAGPPHC 657 (26 October 2020)
The High Court held that a trustee lacked authority to nominate a life-policy beneficiary outside the trust deed’s beneficiary class, and ordered payment to the trust.
Naidoo v Discovery Limited and Others (202/2017) [2018] ZASCA 88 (31 May 2018)
The Supreme Court of Appeal held that a risk-only life insurance policy with a beneficiary clause is not an asset in the estate of the policyholder or the joint estate during the policyholder's lifetime. The policy has no surrender value or investment portion and only pays out upon the death of the insured. The rights to nominate or revoke beneficiaries are contractual and do not constitute assets that can be alienated under section 15(2)(c) of the Matrimonial Property Act. Therefore, the nomination of new beneficiaries by the deceased did not require the appellant's written consent and did n…
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