This designation supersedes any previous beneficiary designation and will be applied to all lines of life insurance on the life of the insured named above?
A beneficiary is the person or organization that will receive your policy’s death benefit. A revocable beneficiary is someone you choose that can be changed at any time without their permission. An irrevocable beneficiary cannot be changed without the written permission of the irrevocable beneficiary.
I hereby designate the individual named as beneficiary on this application to receive any death benefit payable with respect to the coverage applied for. If all the primary beneficiaries are no longer alive, any death benefit payable will become payable to the secondary beneficiary. If no beneficiary is designated, benefits will be payable to the Estate.
If you designate a beneficiary who is a minor when benefits become payable, benefits will be paid into court or to the Public Trustee, unless a trustee is appointed. By appointing a trustee below, you agree that if the beneficiary is a minor on the date that benefits become payable, the benefits will be paid to the trustee to hold in trust for the minor until the minor comes of age.
If naming a corporation as beneficiary: write the name of the corporation in the "Last Name" field. Enter one space for the first name and leave the initial blank. Relationship to insured can be professional corporation, employer, holding company. Percentage should be 100%