Beneficiary Designations

The beneficiary designation is to identify to whom group life insurance will be paid in the event of the death of the Insured.

Insurance benefits will be paid to all Primary beneficiaries named who survive the Insured.

If no primary beneficiary survives the Insured, the insurance proceeds will be paid to all Contingent beneficiaries who survive the Insured. The life insurance policy does not confer any rights to contingent beneficiaries prior to the death of the primary beneficiaries.

If no beneficiary is named, the life insurance benefit is paid to the estate of the Insured.

Share of Life Insurance Benefits

Unless a share percentage is stated, in the case of multiple primary or contingency beneficiaries, the life insurance benefit will be payable in equal shares.

Revocable or Irrevocable

Beneficiaries that are not identified as revocable or irrevocable are assumed revocable, unless otherwise stipulated by law or legal agreements.

In Quebec, the designation of the owner’s married or civil union spouse as beneficiary is irrevocable, unless otherwise stipulated.

If a beneficiary is named irrevocably, please note that his/her written consent is required for any request that may affect his/her rights, including a change of beneficiary. Submit a request to hello@blendable.ca and we'll help facilitate a change with the insurer.

Minor Beneficiaries

If designating a beneficiary who is a minor or who lacks legal capacity you may wish to appoint a trustee.

If appointing a trustee, you are agreeing that the trustee will receive and hold in trust, any life insurance benefits on behalf of any minor or any persons you identify as lacking in legal capacity.

If you are designating a trustee, we recommend you consult with a legal advisor, and with any proposed trustee/administrator.

If the minor resides in Quebec, you should consult with a Quebec Legal counsel before completing this form as certain requirements are stipulated in law.

Acknowledgement

I acknowledge and understand that Blendable Inc shall accept and the beneficiary designation or change in designation on behalf of the insurer but that Blendable Inc does not express any opinion as to the validity or legality of any beneficiary designation.

I authorize Blendable Inc to cancel any previous beneficiary designations and make the requested changes.