What Is Environment, Health and Safety (EHS) Management? Today, Environment, Health & Safety (EHS) programs are so prevalent across global manufacturing organizations, at first thought, providing a definition can feel redundant and unnecessary.
1 irrevocable beneficiary A life insurance or segregated fund beneficiary whose benefit cannot be revoked or modified in any way without his or her consent.  life insurance An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
Therefore, if the named beneficiary of your life insurance policy is an irrevocable life insurance trust, the trust can receive the death benefit without paying taxes on it and can mete it out to whomever your choose. An irrevocable life insurance trust is essentially an additional step in the process.