When a member of a superannuation fund dies, the fund pays out their death benefit to one or more of their dependents. This includes their preserved amount (the contributions they made while they were working) and any insurance benefit.
You can tell your superannuation fund who you want to receive your death benefit. You do this by completing a death benefit nomination or a binding death benefit nomination. The binding nomination means the fund trustee must follow your wishes. Binding death benefit nominations must be updated every three years. Contact your superannuation fund for a nomination form.
You can only nominate someone who is a financial dependent (or interdependent), such as a spouse, a de facto or a child. If you have another life insurance policy (not connected to your superannuation account), you will need to nominate the beneficiary separately. Contact your insurer to do this.