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1:16
YouTube
Insurance Exam Prep
Beneficiary Designations Explained — Primary, Contingent, and Tertiary in 60 Seconds
Most people name a primary beneficiary and stop there — but a complete beneficiary designation has three layers, and skipping the others can send your death benefit straight to probate 💡 Primary beneficiary gets paid first. If they've died, the contingent beneficiary steps in. If both are gone, the tertiary beneficiary collects. Without ...
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One wrong TFSA decision in Canada can trap your family in unnecessary taxes. Understanding beneficiary vs successor holder is critical. Share this with your spouse and follow the page for practical money protection tips. Disclaimer: Content for educational purposes only. Not financial advice. #wealth #finances #canada_life🇨🇦
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