Common use of IN THE EVENT OF YOUR DEATH Clause in Contracts

IN THE EVENT OF YOUR DEATH. On notification of your death the unit trust portfolios of all your product accounts will be switched to the Nedgroup Investments Core Income Fund or to another investment option decided by the Trustees in order to preserve the capital while the death claim is processed. The notification letter to the fund must include: • Your personal details; • Your identity number; • A certified copy of your death certificate; • Your product account number; and • Your investor number. Legislation requires that the Trustees allocate the benefit after a full investigation. The Trustees decide who receives the benefit, the percentage each will receive, and how the benefit is paid. Your nominated beneficiary will not automatically receive a benefit as current legislation requires that dependants must be considered by the Trustees. If you have no dependants but nominated beneficiaries who are not dependants, the Trustees must first use the benefit to pay the debts of your estate if your estate does not have enough assets. If there is no debts to be paid, payment will be made to your beneficiary, or if you did not nominate beneficiaries, to your estate. Those who are allocated a benefit may choose to have the benefit paid in one of the following ways: • The full amount is used to buy a compulsory annuity • The full amount is paid as a cash lump sum • A combination of a cash lump sum and a compulsory annuity is paid The benefit due to those who have been allocated a benefit by the Trustees, after deducting fees and charges payable, will be paid as selected once all processing and regulatory requirements have been met.

IN THE EVENT OF YOUR DEATH. On notification of your death the unit trust portfolios of all your product accounts will be switched to the Nedgroup Investments Core Income Fund or to another investment option decided by the Trustees in order to preserve the capital while the death claim is processed. The notification letter to the fund must include: • Your personal details; • Your identity number; • A certified copy of your death certificate; • Your product account number; and • Your investor number. Legislation requires that the Trustees allocate the benefit after a full investigation. The Trustees decide who receives the benefit, the percentage each will receive, and how the benefit is paid. Your nominated beneficiary will not automatically receive a benefit as current legislation requires that dependants must be considered by the Trustees. If you have no dependants but nominated beneficiaries who are not dependants, the Trustees must first use the benefit to pay the debts of your estate if your estate does not have enough assets. If there is no debts debt to be paid, payment will be made to your beneficiary, or if you did not nominate beneficiaries, to your estate. Those who are allocated a benefit may choose to have the retirement benefit paid in one of the following ways: • The full amount is used to buy a compulsory annuity annuity. • The full amount is paid as a cash lump sum sum. • A combination of a cash lump sum and a compulsory annuity is paid paid. The benefit due to those who have been allocated a benefit by the Trustees, after deducting fees and charges payable, will be paid as selected once all processing and regulatory requirements have been met.