In particular, the question was where a support payor owns a life insurance policy and is required to name the support recipient as irrevocable beneficiary of the policy, what rights does the support recipient have to the policy proceeds in the face of a competing claim of another dependant of the deceased payor brought under the Succession Law Reform Act («SLRA»). (mannlawyers.com)
For example, if the husband is required to pay support, he may also be required to obtain a life insurance policy and name his spouse as irrevocable beneficiary of the policy so that if he dies, the spouse will have sufficient funds for his or her support. (mannlawyers.com)
Revocable beneficiaries can easily be replaced by a new name while irrevocable beneficiaries requires a more complicated legal procedure. (usacoverage.com)