The spouse could then make contributions and withdrawals, and name new beneficiaries. (debt.org)
Not only do you need to shop for multiple policies, but you need to pay multiple bills, keep multiple sets of paperwork, and potentially keep multiple companies updated with new beneficiaries. (policygenius.com)
Specifically, they may be able to add new beneficiaries and use the money for them, or they always have the opportunity to collapse the account and use the money for themselves. (moneysense.ca)