Time to get morbid.

Your policy includes life insurance under your name. In the event of your death we will need to have a beneficiary or beneficiaries designated.

If you intend for some or all of your death benefit to go to specific individuals, it is important to make sure that you plan ahead and select those beneficiaries. Having an up-to-date beneficiary designation will make this possible by listing your primary and contingent beneficiaries and intended allocations. 

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Let's assign your primary beneficiary(ies).

A primary beneficiary is the person, people or entity you choose to receive the death benefits. If you choose more than one beneficiary, you will need to tell us what percentage of the benefit you would like each person to receive. 

If beneficiary is shown as irrevocable, his/her consent is required to change it. Include a signed and dated consent with this form. You are responsible for ensuring the validity of your designation aka. if you have an agreement with a spouse, partner, or other entity now is the time to check it.

What's the deal with minors?

Only show assign to a dependant IF Q12 = R2/R3

ASSIGN  TO A DEPENDANT

ADD A BENEFICIARY 

Appearance after selected dependent OR NEW created. Relationship, Allocation and Irrevocable happen on this page.

Proceed Allocation Remaining: 

90%

If a benefit becomes payable to a minor who is named as a primary or contingent beneficiary, the benefit can only be paid on behalf of the minor to a trustee or guardian for property, otherwise it will be paid into court to be held until the beneficiary has reached the age of majority for your specific province. It is important therefore, if you are choosing a beneficiary who is a

minor at the time of the designation to also name a trustee.

If a minor has been designated as an irrevocable beneficiary, the policy is automatically frozen until the beneficiary has reached the age of majority for your specific province. A parent, guardian or trustee cannot consent to a beneficiary change on behalf of a minor.

Minor: a person named as a beneficiary who is under the age of majority for your specific province.

Trustee: a person appointed by you to hold the minor’s proceeds in trust until the minor reaches the age of majority for your

specific province.

XAVIER MACARTNEY

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10%

Looks like you've got a bit more to dole out. Please allocate 100% between your beneficiaries.

This response needs to be validated - all fields entered. TOTAL Allocation needs to be 100% Cumulatively, and dependents must be assigned.

Which dependant would you like to designate?

Drop down lists Dependants on file.
 
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For the record.

What is their legal name?
What day were they born?

Would you like to assign a contingent beneficiary?

A contingent beneficiary is the person, people or entity you choose to receive the death benefits if all of the primary beneficiaries die before you. If you select more than one contingent beneficiary, the benefit will be split evenly between the contingent beneficiaries.

 

Here's how it works.

What happens if...

The primary beneficiary dies before you and no contingent beneficiary is named.

The primary beneficiary dies before you, but there is a contingent beneficiary(ies) designated.

You assign two primary beneficiaries, and one beneficiary dies before you, and you have not updated your beneficiary form information.

The death benefit will be paid to your estate.

The benefit will be paid to the contingent beneficiary(ies).

The entire death benefit that would have been paid to the deceased beneficiary will be paid to the surviving primary beneficiary.

ASSIGN  TO A DEPENDANT

Only show assign to a dependant IF Q12 = R2/R3

ADD A CONTINGENT BENEFICIARY 

Appearance after NEW created. 

XAVIER MACARTNEY

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Your trusty trustee.

In the event that you have a minor beneficiary you can appoint a trustee to act on their behalf.

A trustee is a person appointed by you to hold the minor’s proceeds in trust until the minor reaches the age of majority for your specific province.

Incase you missed it before - what's the deal with minors?

If a benefit becomes payable to a minor who is named as a primary or contingent beneficiary, the benefit can only be paid on behalf of the minor to a trustee or guardian for property, otherwise it will be paid into court to be held until the beneficiary has reached the age of majority for your specific province. It is important therefore, if you are choosing a beneficiary who is a

minor at the time of the designation to also name a trustee.

If a minor has been designated as an irrevocable beneficiary, the policy is automatically frozen until the beneficiary has reached the age of majority for your specific province. A parent, guardian or trustee cannot consent to a beneficiary change on behalf of a minor.

Minor: a person named as a beneficiary who is under the age of majority for your specific province.

Trustee: a person appointed by you to hold the minor’s proceeds in trust until the minor reaches the age of majority for your

specific province.

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We. Are. Done.

Your teeth, health and Livelii thank you.

We've got one final signature to do on your registration documents then we'll be in touch once your policy is active.