How to manage 11 different life insurance beneficiary issues
October 19, 2016 by Stephan R. Leimberg
A policyholder can — and should — name more than one beneficiary.
A planner is derelict in duty if the policyholder is not told of the privilege and advantages of naming both a primary beneficiary, which can be more than one person or entity, and one or more contingent or secondary beneficiaries.
The primary beneficiary is the first person (or class of persons) in line to receive the proceeds when the insured dies. But to be entitled to the proceeds, the primary beneficiary must be living on the date the insured dies.
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Originally Posted at LifeHealthPro on October 12, 2016 by Stephan R. Leimberg.
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