Some life insurers require the insured to nominate a beneficiary
under the policy. Many people hold life insurance policies for many
years during which a number of life circumstances may change.
Section 48A of the Insurance Contracts Act 1985 (Cth)
enables a third party beneficiary under a life insurance policy to
recover from the insurer any money that becomes payable under the
policy, even though the third party beneficiary is not a party to
the policy. The life insurer is contractually bound to pay the
If personal circumstances change, most people immediately change
their will. Section 4 of the Succession Act 2006 (NSW)
says a person may dispose by will the property to which the person
is entitled to at the time of the person's death. If there is a
nominated beneficiary in the life insurance policy, then the
proceeds of the life insurance policy is not property to which the
deceased person or their estate is entitled to, at the time of the
So beware. If you change your will, then make sure you also
identify the correct nominated beneficiary under your life
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The failure of a party to call a witness does not necessarily give rise to an adverse inference being drawn in accordance with Jones v Dunkel (1959) 101 CLR 298. An unfavourable inference is drawn only if evidence otherwise provides a basis on which that unfavourable inference can be drawn.
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Whereas most insurance policies exclude liability arising under contract, insurers can
positively benefit where an insured has limited or excluded its liability under contract.
This usually arises where the insured's contract has a limitation or exclusion of liability clause in the insured's favour.
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