Insurance Money

What happens if you forget to name your new spouse as your insurance beneficiary instead of your ex-spouse and you pass away?
Insurance products such as individual life insurance, group life insurance, RRSPs administered through insurance companies, registered annuities, non-registered annuities and variable annuity contracts all include beneficiary designations.
North American courts are full of cases that concern beneficiary disputes – spouses and ex-spouses, children and step-children all battling for the money after you die. Anyone can contest a beneficiary named on a life insurance policy but your chance of winning is slim even if you are the spouse of the policy holder.

 

see video