Ethics Beneficiaries, Creditor Protection & Claims question: insurance money

EthicsBeneficiaries, Creditor Protection & Claims

Ines, a pharmacist in Regina, made a will in 2019 that names her son as beneficiary of her life policy. In 2024, after her son moved abroad, she filed a declaration with the insurer naming her daughter as beneficiary. She did not change her will. Ines dies in 2026, and both children claim the policy money. Who receives the insurance money?

A Her daughter, because the later declaration prevails
B Her estate, because the two documents conflict
C Her son, because a will always overrides a declaration
D Her son and daughter, in equal shares

Show the answer and explanation

Answer: A. Her daughter, because the later declaration prevails

A designation in a will is of no effect against a designation made later than the will. Ines's 2024 declaration was made after the 2019 will, so the daughter is the beneficiary. Had the will been made after the declaration, the will's designation would have governed. Source: Insurance Act (BC), RSBC 2012, c. 1, s. 61(2) (current to 6 Oct 2026; as at 12 Oct 2026); the other common-law provinces' Insurance Acts have the same uniform provision.

Common mistake

Assuming the will always wins.

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Original study material mapped to the public CISRO curriculum; not a real test question.Not affiliated with CISRO, CCIR or any provincial insurance regulator. Verify figures and rules against current guidance before relying on them.