Beneficiaries

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

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,

It’s easy to name your children as beneficiaries, as long as they’ve reached the age of majority (18 in most provinces).

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

If you name your estate as beneficiary, the death benefit will become a part of your estate. The funds will be used according to the

Just reach out to our friendly team. We’ll send you the right form to fill out. Remember to have your policy number and insurance company

You can name an alternate or contingent beneficiary. This person will receive the death benefit if your named beneficiary dies before you or at the

In short, yes! If you’re the owner or a partner in your business, you can often name it as your beneficiary. However, it’s important to

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

It’s the most common type of beneficiary in Canada! A revocable beneficiary offers flexibility. You can change your beneficiary whenever your needs change, like when