If the life insured dies before retirement and the spouse is eligible, who receives the pension?

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Prepare for the Canada HLLQP Ethics Exam with comprehensive quizzes. Utilize flashcards and multiple-choice questions, supported by hints and explanations. Enhance your readiness and confidence!

Multiple Choice

If the life insured dies before retirement and the spouse is eligible, who receives the pension?

Explanation:
The key idea is survivor benefits. When a pension has a survivor provision for a spouse, and the spouse is eligible, the pension payments continue to the spouse after the death of the life insured. In this scenario, the spouse is the designated recipient, so they receive the pension. The estate would only receive benefits if there was no eligible beneficiary designated, and the employer or the court do not receive the pension by default.

The key idea is survivor benefits. When a pension has a survivor provision for a spouse, and the spouse is eligible, the pension payments continue to the spouse after the death of the life insured. In this scenario, the spouse is the designated recipient, so they receive the pension. The estate would only receive benefits if there was no eligible beneficiary designated, and the employer or the court do not receive the pension by default.

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