Empire Life logo


Irrevocable Life Insurance Beneficiary not so “Untouchable”

Posted by Allison Barton

Sep 30, 2015 1:30:29 PM

Family on Bridge

An "irrevocable life insurance beneficiary" refers to a person that is designated to receive life insurance benefits from a life insurance policy or segregated fund contract where that designation cannot be changed without that person’s consent, and on the death of the life insured the benefits do not form part of the owner’s (if he/she is the life insured) estate. This is set out in the Insurance Act. 

Read More

Topics: Helpful Tips