September 18, 2017

Remember to update your group life insurance beneficiary

September 18, 2017
Beneplan update your group life insurance beneficiary

If you've recently had a life event, make sure you are advising Beneplan or your plan administrator to update your beneficiary for Canadian group life insurance and group long term disability (if applicable):

  • Recently married, separated or divorced
  • New baby
  • Other significant life event

Why is this important?

  • If you do not add a named beneficiary in your group life insurance benefit, the amount will automatically be paid to your estate.
  • Handling life insurance within an estate is problematic, because it may be subject to probate fees, and likely will not have creditor protection (ask your financial adviser for more details).

If you're a Beneplan plan member, email admin@beneplan.ca to start the process of updating your beneficiary.As always, you're welcome to call us at 1-800-387-1670 if you have any questions.

Subscribe

Get curated insights from the health benefits space every month.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Other Great Reads

Cultivating Operational Excellence with Business Intelligence

Jan 5, 2024

GreenShield Plan Member ID Cards Going Digital

Nov 28, 2023

Required 2023 T4 & T4A Reporting for National Dental Care Plan

Nov 24, 2023

8 Reasons Why You Should Upgrade Your Life Insurance Policy

Oct 17, 2023