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Phylicia has a whole life insurance policy. She is married and lives in western Canada with her husband and adult daughter. Phylicia is planning to
Phylicia has a whole life insurance policy. She is married and lives in western Canada with her husband and adult daughter. Phylicia is planning to divorce her husband and potentially re-marry in the future. Which of the following statements about the impact of Phylicia's divorce is CORRECT? i. If Phylicia's husband is currently the beneficiary of her life insurance policy, his beneficiary status will be automatically revoked as a result of the divorce. ii. If Phylicia's husband is currently the beneficiary under her will, his status will remain unchanged unless a new beneficiary is designated. iii. If Phylicia is ordered to pay spousal support after the divorce, she may also be ordered to purchase life insurance to guarantee the support payments after her death. iv. If Phylicia is ordered to pay child support after the divorce, she may also be ordered to purchase life insurance to guarantee the support payments after her death. i and it i and iii ii and iv jii and iv
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