Common use of Estate Matters Clause in Contracts

Estate Matters. If you die before your Scotia Self-Directed RSP matures, we will pay the funds in it to your beneficiary, if any. If your spouse is the beneficiary, he or she may transfer the funds in your Scotia Self- Directed RSP to an RRSP, RRIF or annuity he or she owns. If you die before the funds in your Scotia Self-Directed LRSP or LIRA are transferred to a LRIF, LIF, life annuity or other permitted retirement income vehicle available under the applicable pension legislation, we will pay them to your spouse. This assumes that you have a spouse at the time of your death. Your spouse may transfer the funds to another LRSP or LIRA, or to a LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If you do not have a spouse when you die or, if your spouse has provided us with the waiver referred to in the first paragraph of Section 13 of this Agreement, we will pay the funds in your Scotia Self-Directed LRSP, LIRA or Federal RLSP, to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if you do not designate a beneficiary, your beneficiary dies before you, or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any payment, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.

Estate Matters. If you die before your Scotia Self-Directed Group RSP matures, we will pay the funds in it to your beneficiary, if any. If your spouse is the beneficiary, he or she may transfer the funds in your Scotia Self- Self-Directed Group RSP to an RRSP, RRIF or annuity he or she owns. If you die before the funds in your Scotia Self-Self- Directed Group LRSP or LIRA are transferred to a LRIF, LIF, life annuity or other permitted retirement income vehicle available under the applicable pension legislation, we will pay them to your spouse. This assumes that you have a spouse at the time of your death. Your spouse may transfer the funds to another LRSP or LIRA, or to a LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If you do not have a spouse when you die or, if your spouse has provided us with the waiver referred to in the first paragraph of Section 13 of this Agreement, we will pay the funds in your Scotia Self-Directed LRSP, LIRA or Federal RLSP, Group LRSP to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if If you do not designate a beneficiary, your beneficiary dies before you, or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any payment, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.

Estate Matters. If you die before the payments from your Scotia Self-Directed RSP maturesMDRIF end, we will pay (a) make the funds in it remaining payments to your beneficiaryspouse, if any. If your spouse is the beneficiary, he or she may and (b) transfer the funds in your Scotia Self- Directed RSP RIF to an RRSP, RRIF or life annuity he or she ownsowned by your spouse, if this is what you elected on your Application. If This assumes that you have a spouse at the time of your death. Except as may otherwise be provided in this Agreement, if you die before the funds in payments from your Scotia Self-Directed LRSP or LIRA are transferred to a MD LIF, LRIF, LIF, life annuity Saskatchewan PRRIF or other permitted retirement income vehicle available under the applicable pension legislationManitoba PRRIF end, we will pay them the remaining funds in your Plan to your spouse. This assumes that you have a spouse at the time of your death. This provision does not apply to the spouse of the surviving spouse of the original Plan owner. Your spouse may transfer the funds from your MD LIF or LRIF to another LRSP or LIRALIF, or to a LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If Upon your death, we will pay the funds in your Plan to your beneficiary, if any, if: • you do not have a spouse when you die ordie; or • this is an MDRIF and you have elected other than as indicated in the first paragraph of this Section 10; or • this is an MD Saskatchewan PRRIF and either your spouse does not survive you for 30 days or more, if or you are not a former member of the pension plan from which the money in your MD Saskatchewan PRRIF was directly or indirectly transferred; or • this is an MD Manitoba PRRIF and your spouse has receieved or is entitled to receive all or any part of the funds in your Plan pursuant to an agreement or order under The Family Property Act (Manitoba); or • this is an MD LIF, LRIF or Saskatchewan PRRIF and your spouse has provided us with the waiver referred to in the first paragraph of Section 13 11 of this Agreement, we will pay the funds in your Scotia Self-Directed LRSP, LIRA or Federal RLSP, to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if you do not designate a beneficiary, your beneficiary dies before you, you or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any paymentpayment pursuant to this Section 10, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.

Estate Matters. If you die before the payments from your Scotia Self-Directed RSP maturesRIF end, we will pay (a) make the funds in it remaining payments to your beneficiaryspouse, if any. If your spouse is the beneficiary, he or she may (b) transfer the funds in your Scotia Self- Directed RSP RIF to an RRSP, RRIF or life annuity he or she ownsowned by your spouse, if this is what you elected on your Application. If This assumes that you have a spouse at the time of your death. Except as may otherwise be provided in this Agreement, if you die before the funds in payments from your Scotia Self-Directed LRSP or LIRA are transferred to a LIF, LRIF, LIF, life annuity Saskatchewan PRRIF or other permitted retirement income vehicle available under the applicable pension legislationManitoba PRRIF end, we will pay them the remaining funds in your Plan to your spouse. This assumes that you have a spouse at the time of your death. This provision does not apply to the spouse of the surviving spouse of the original Plan owner. Your spouse may transfer the funds from your Scotia Self-Directed LIF or LRIF to another LRSP or LIRALIF, or to a LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If Upon your death, we will pay the funds in your Plan to your beneficiary, if any, if • you do not have a spouse when you die ordie; or • this is a Scotia Self-Directed RIF and you have elected other than as indicated in the first paragraph of this Section 10; or • this is a Scotia Self-Directed Saskatchewan PRRIF and either your spouse does not survive you for 30 days or more, if or you are not a former member of the pension plan from which the money in your Scotia Self-Directed Saskatchewan PRRIF was directly or indirectly transferred; or • this is a Scotia Self-Directed Manitoba PRRIF and your spouse has received or is entitled to receive all or any part of the funds in your Plan pursuant to an agreement or order under The Family Property Act (Manitoba); or • this is a Scotia Self-Directed LIF, LRIF or Saskatchewan PRRIF and your spouse has provided us with the waiver referred to in the first paragraph of Section 13 11 of this Agreement, we will pay the funds in your Scotia Self-Directed LRSP, LIRA or Federal RLSP, to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if you do not designate a beneficiary, your beneficiary dies before you, you or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any paymentpayment pursuant to this Section 10, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.

Estate Matters. If you die before your Scotia Self-Directed RSP matures, we will pay the funds in it to your beneficiary, if any. If your spouse is the beneficiary, he or she may transfer the funds in your Scotia Self- Directed RSP to an a RRSP, RRIF or annuity he or she owns. If you die before the funds in your Scotia Self-Directed LRSP or LIRA are transferred to a LRIF, LIF, life annuity or other permitted retirement income vehicle available under the applicable pension legislation, we will pay them to your spouse. This assumes that you have a spouse at the time of your death. Your spouse may transfer the funds to another LRSP or LIRA, or to a LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If you do not have a spouse when you die or, if your spouse has provided us with the waiver referred to in the first paragraph of Section 13 of this Agreement, we will pay the funds in your Scotia Self-Directed LRSP, LIRA or Federal RLSP, to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if you do not designate a beneficiary, your beneficiary dies before you, or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any payment, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.

Estate Matters. If you die before your Scotia Self-Directed MDFM RSP matures, we will pay the funds in it to your beneficiary, if any, as a refund of premiums in a lump sum. If your spouse is the beneficiary, he or she may transfer the funds in your Scotia Self- Directed MDFM RSP to an RRSP, RRIF or annuity he or she owns. If you die before the funds in your Scotia Self-Directed MDFM LRSP or LIRA are transferred to a an LRIF, LIF, life annuity or other permitted retirement income vehicle available under the applicable pension legislation, we will pay them to your spouse. This assumes that you have a spouse at the time of your death. Your spouse may transfer the funds to another LRSP or LIRA, or to a an LRIF, LIF, life annuity or any other permitted retirement income vehicle available under the applicable pension legislation or, if permitted under applicable pension legislation, receive the funds in a lump sum cash payment. If you do not have a spouse when you die or, if your spouse has provided us with the waiver referred to in the first paragraph of Section 13 of this Agreement, we will pay the funds in your Scotia Self-Directed MDFM LRSP, LIRA or Federal RLSP, to your beneficiary, if any. You may designate your beneficiary in your will. Alternatively, in provinces where it is allowed, you may designate your beneficiary on a form acceptable to us and in accordance with applicable provincial legislation. You can change or revoke your designation at any time, either in your will or, if allowed, on a form that we accept. We will make payment to the most recently designated beneficiary of which we have notice, if you have made designations more than once. If, upon your death, the funds in your Plan are not payable pursuant to this Agreement to your spouse, and if you do not designate a beneficiary, your beneficiary dies before you, or your designation is not permitted by the province where you live, we will pay the funds held in your Plan to your estate. Before we make any payment, we need proof of your death and may need other documents. We will deduct any applicable taxes, fees and expenses from the payment.