What is an insurable interest survivor benefit?

You may elect to provide a lifetime survivor annuity to someone with an insurable interest in you. That means someone who would reasonably suffer a financial disadvantage in the event of your death. For survivor benefit election purposes, an insurable interest is presumed to exist if you name as beneficiary of the insurable interest, like: a spouse, ex-spouse, fiance, or common-law partner, or certain blood or adopted relatives. Others may also qualify as persons with an insurable interest.