Who should be the beneficiary on life insurance?

Who should be my beneficiary? It can be anyone in your family, you can even have more than one. For some people, this is a simple choice of choosing their children and spouse. For some though, it can be slightly more complicated.

Who is the best person to be beneficiary?

Anyone who will suffer financially by your loss is likely your first choice for a beneficiary. You can usually split the benefit among multiple beneficiaries as long as the total percentage of the proceeds equal 100 percent.

Who is the best person to be beneficiary?

Anyone who will suffer financially by your loss is likely your first choice for a beneficiary. You can usually split the benefit among multiple beneficiaries as long as the total percentage of the proceeds equal 100 percent.

Who should I select as beneficiary?

Your parents, a favorite charity, close friends, siblings or other people you wish to provide financial support for could be options as contingent beneficiaries. Consider your kids or the person/people taking over guardianship as the primary beneficiary. Your ex-spouse is another option.

Who is the beneficiary of a life insurance policy?

Who is a beneficiary? A beneficiary receives the payout from your insurance policy in the unfortunate event of your death. We make this decision because we want to protect the people we care about from the potentially devastating impact caused by such unforeseen circumstances.

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