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.
Definition of Preferred Beneficiary Preferred BeneficiaryUsed in older contracts to confer the same rights as an irrevocable beneficiary. Applied to family members. Related Terms: BeneficiaryThis is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy.n the case of credit insurance, the beneficiary will always be the creditor. Contingent BeneficiaryThis is the person designated to receive the death benefit of a life insurance policy if the primary beneficiary dies before the life insured.