Think of it as a super-strong beneficiary designation. It means you can’t change who receives your life insurance payout without their permission. This isn’t the norm, but it can be useful in some situations, like divorce agreements or business partnerships.
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What is a beneficiary, and how do I choose one?
When you purchase a life insurance policy, you can name a beneficiary. A beneficiary is a person or persons who will receive the death benefit
What is a beneficiary, and how do I choose one? Keep Reading
Who can be a beneficiary?
You can name your spouse, children, dependents, another family member, a friend, or a charity as a beneficiary. If you name more than one beneficiary,
Who can be a beneficiary? Keep Reading
Can my children be my beneficiary?
It’s easy to name your children as beneficiaries, as long as they’ve reached the age of majority (18 in most provinces).
Can my children be my beneficiary? Keep Reading
Can I name my under-age children as beneficiaries?
In Ontario, children under 18 cannot receive control over any money left to them in an insurance policy. If you want the children to receive
Can I name my under-age children as beneficiaries? Keep Reading
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