If you’re about to obtain Basic Life, Family Life, Accidental Death and Dismemberment, Term 100, and/or Dental Office Staff Insurance coverage through the Canadian Dentists’ Insurance Program, you will likely want to designate a beneficiary (or beneficiaries). “Designating a beneficiary” means that you name a party (or parties) who will receive the proceeds of your life insurance coverage.

If the trust instrument says that the trustmaker can revoke the trust or change the trust instrument, the trust is what we call a revocable trust. The trustmaker has complete control over a revocable trust. If the trust instrument does not allow the trustmaker to change the trust instrument or revoke the trust, we have what is called an irrevocable trust. Irrevocable trusts allow trustmakers to make gifts but keep the recipients from having complete control over the gifted assets. See similar questions...

While this has been touched on in previous questions, generally speaking an irrevocable agreement cannot be refunded prior to death--while a revocable agreement can be refunded. Irrevocable agreements should be used in cases where the individual is going under public assistance of some kind, as the prefinanced funeral agreement (up to a certain amount) does not count as an asset. See similar questions...

In irrevocable factoring transactions, the risk of non-payment of the receivables is underwritten by the factor, and with the exception of shipment of defective goods, the customer is held entirely free of recourse. Whereas, in revocable factoring, the risk of nonpayment of the receivables is not underwritten by the factor, and in the case of non-payment of the pre-finance payments made for the receivables, the factor has the right of recourse to the customer. See similar questions...

A - This is an IRREVOCABLE Trust, meaning that the SETTLOR can not change his mind and take control over his property again or withdraw the terms of the contractual agreement between him and the TRUSTEE. See similar questions...

Issuer is the one who actually issues the issue, however, it is the Beneficiary who actually receives the proceeds ($ amount) from the issue. Transaction Value: The total consideration that the acquirer paid for the % of the target they are acquiring plus any liabilities assumed if publicly disclosed. Standard Platinum Definition: Total value of consideration paid by the acquiror, excluding fees and expenses. See similar questions...

A Last Will and Testament is a legal document that describes how you want your assets distributed upon your death. Even though you sign it while you are living, it does not take effect until you die. Therefore, when the validity of your Will is called into question, the one person who can attest to its accuracy -- you -- will not be around to defend your wishes. See similar questions...

When you apply fo VGLI, you can name any person, firm, corporation or legal entity as the beneficiary of your VGLI. To change a beneficiary, complete, sign and submit to OSGLI: form SGLV 8721, Beneficiary Designation - Veterans' Group Life Insurance. See similar questions...

A beneficiary has the right to cash the bond only if the owner is deceased. A co-owner has the same rights as the first-named owner to cash a bond. See similar questions...

The Primary Beneficiary is the first person or entity you want to receive the proceeds of your accounts. There can be more than one primary beneficiary, for example you could name. The secondary beneficiary is the second person or entity you want to receive the proceeds of your accounts should the primary be deceased or not meet specific serviceable qualifications you have instructed. There can be more than one secondary beneficiary just as the example above appears. See similar questions...