Where does the payout go?

If you have a will, then your payout will go to the executors/(s) who will distribute it as specified in your will.
If there is no will, then intestacy laws apply, and the payout goes to the administrator who will distribute according to the law. For more info on intestacy see https://www.gov.uk/inherits-someone-dies-without-will.
If you have created some deathwishes alongside your plan then the details of these will be given to whoever receives the payout as guidance on how you wanted the payout to be used (similar to an ‘expression of wishes’).
in Plan rules
Updates & Legal gumph
Current Version 2.1
  • Added
  • Hey Bowlhead video
  • Updated
  • Lifeline guarantee extended to 10 years.
  • Plan RulesView Rules
  • Improved
  • Life insurance acceptance for mental health issues
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