Beneficiaries

When you enroll in the ELCIC Group Benefits Plan’s Life Insurance and in the ELCIC Pension Plan, you are invited to name a beneficiary or beneficiaries who could receive a payment in the event of your death. The Life Insurance and Pension beneficiaries do not need to be the same person. If you are wondering who you should name, consider who would suffer the most financially if you were not here. If no one is financially connected to you, then you could name someone (or a registered charity) who is important to you.

Please review your beneficiaries from time to time. If you wish to change your beneficiaries, please complete the appropriate form and send it to the GSI Office.

The Employee may name a beneficiary* when completing the ELCIC Group Benefits Enrollment Form or by submitting a Life Insurance Beneficiary Designation Form. Once either Form has been submitted, it takes effect as of the date it was signed with respect to any payment made after the time it was submitted. This designation can be changed at any time.  

The entitlement of any beneficiary who predeceases you will revert to your surviving beneficiaries in equal shares (not the deceased beneficiary’s heirs). You may designate a contingent beneficiary(ies) to receive any proceeds if all the primary beneficiary(ies) named should die before you (but contingent beneficiaries don’t receive any entitlement if there is a surviving primary beneficiary). If there is no surviving beneficiary and if you have not named a contingent beneficiary or the contingent beneficiary is also deceased, then your estate becomes the continent beneficiary. 

Beneficiary designations are only applicable for Employee Life Insurance and Accidental Death and Dismemberment.

Any amount of insurance payable under this Policy on the life of a Dependent shall be payable to the Employee.

*subject to governing law