Marginal note:Amount of insurance
16. The minimum and maximum amounts payable at death that may be contracted for under this Act are one thousand dollars and ten thousand dollars, respectively.
- R.S., 1927, c. 23, s. 16.
Marginal note:Medical certificate
17. Every applicant for insurance shall furnish with his application a medical certificate in such form as is prescribed by the Minister.
- R.S., 1927, c. 23, s. 17.
Marginal note:Designation of beneficiaries
17.1 Despite any other provision of this Act, an insured may, in a declaration, an insurance contract, a will or an instrument purporting to be a will, designate as beneficiary the insured’s child, spouse, common-law partner, father, mother, brother, sister or any other person dependent on the insured, apportioned among them as the insured sees fit.
- 2000, c. 12, s. 79.
Marginal note:Regulations by Governor in Council
18. The Governor in Council may, for the purposes of this Act, from time to time make regulations for
(a) regulating the mode and form of making contracts;
(b) prescribing the mode of proving the age, identity, and the existence or death of persons;
(c) prescribing the mode of paying money in connection with insurance contracts;
(d) providing for the payment of the insurance money as an annuity for a term of years certain or for the lifetime of the beneficiary or beneficiaries or otherwise, and prescribing from time to time the tables to be used in the calculations of such annuities;
(e) dispensing with the production of probate of a will or letters of administration, either generally or in any particular class of cases;
(f) prescribing the accounts to be kept and their management;
(g) determining beforehand the cases or classes of cases in which an insurance contract may be surrendered and a cash surrender value paid therefor, or a free or paid-up insurance contract issued instead thereof, and for prescribing the manner in which such cash surrender value or amount of paid-up insurance shall be determined;
(h) determining the cases, not otherwise provided for in this Act, in which a person not originally named as, but who is eligible under this Act to be a beneficiary may be made a beneficiary; and in which an apportionment of the insurance money once made may be varied; and
(i) any other purpose for which it is deemed expedient to make regulations in order to carry this Act into effect.
- R.S., 1952, c. 49, s. 18;
- 1974-75-76, c. 42, s. 9.
19. [Repealed, 1992, c. 1, s. 41]
Marginal note:Moneys part of Consolidated Revenue Fund
20. Moneys received under this Act form part of the Consolidated Revenue Fund, and moneys payable under this Act are payable out of the Consolidated Revenue Fund.
- R.S., 1927, c. 23, s. 20.
- Date modified: