The Point of Points – What happens to your points when you die

The Point of Points – What happens to your points when you die

Everywhere we shop we are encouraged to collect points. From gas stations like Esso and Petro-Canada; stores like Save-On Foods and Hudson’s Bay Company we have the opportunity to collect points with the individual store, Aeroplan or Airmiles. The points are free and many of us use them to buy little luxuries we might not otherwise enjoy. They are an intangible property that we never see but can have value.

I once dealt with an estate where a St Albert grandmother had been collecting points at a local store so she could take all her children, grandchildren, and great grandchildren on a shopping spree for Christmas. She envisioned the family taking over the store here in St Albert and having a great time running up and down the aisles placing their goodies in their carts. Unfortunately, she passed away before this shopping spree could happen. The family had the points card but all of the points were cancelled immediately upon the grandmother’s untimely death.

Every year hundreds of thousands of points are lost because of the card holders death. To help you and your family, I have wanted to share a quick cheat sheet for Point systems here in Canada

Air Miles Reward Miles
Can be transferred to beneficiaries with no cost to the estate.

Optimum Points
These points are canceled upon death. They are non-transferable.

Petro-Points
These points are cancelled upon death. They are non-transferable.

Aeroplan
These points can be transferred to a spouse or beneficiaries upon your death. There is a fee for this transfer

HBC Rewards
Can be transferred to a spouse or beneficiaries upon your death. There is no cost for this transfer.

WestJet
Can be transferred to a spouse or beneficiaries upon your death. There is no cost for this transfer.

If you are dealing with an Estate and have questions or concerns about Points and Airmiles give our team a call at 780 458 8228. We are here to help!

Share this on...Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Email this to someone

Written by Stacy Maurier