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Life Insurance Beneficiary - Valuation, Finances And Planning - Entrepreneur

ARE YOU AWARE IF YOU'RE A BENEFICIARY
As I read the articles below, I realize that being a beneficiary for a life insurance policy may be a scary thing. Life insurance beneficiaries could be spouses, business partners, children, non-profits or whomever the life insured decides.

DO YOU KNOW HOW TO COLLECT A LIFE INSURANCE BENEFITS?
If you are the beneficiary of a policy, are you informed as to the details and requirements of the policy to receive pay out? Are you aware of any reason that you wouldn't receive the benefits of a policy... Example, your spouse was involved in a dangerous sport that was not covered in the policy.

I get a sense that sometimes beneficiaries of a life insurance policy don't even know that they have been included. If your spouse is self employed or employed, there may be life insurance policies with credit cards, mortgage company, employers, business partnerships etc. Your spouse may not have shared all of these insurance policies with you because he forgot about them, or what ever other reason.

It may be good to have a discussion with those close to you as to who has life insurance policies and who are the beneficiaries of the life insurance policies.

News Post:
Valuation, Finances and Planning - Entrepreneur
27 Oct 2006 at 12:43am
Valuation, Finances and Planning Entrepreneur - A life insurance policy taken out on the owner for the sale amount, naming the child as beneficiary, would fund the purchase after the owner?s death.

Why proper beneficiary designations are critical - MarketWatch
25 Oct 2006 at 7:28pm
Why proper beneficiary designations are critical MarketWatch - Oct 25, 2006 In Lisa s case it was in not understanding the implications of the way the beneficiary designations were filled in on her husband s life insurance policy.

Great Idea...Lousy Name - Best Syndication
26 Oct 2006 at 3:15pm
Best SyndicationGreat Idea Lousy NameBest Syndication, CA - 17 hours ago of NQDC plan provides a death benefit to the employee s designated beneficiary. By using life insurance products, the tax deferral feature of qualified plans

Get Income for Life: Part 2 - Motley Fool
24 Oct 2006 at 8:23am
Get Income for Life: Part 2Motley Fool - Oct 24, 2006 of your life. If you die prematurely, however, the annuity continues to make payments to whomever you select as beneficiary. Some insurance companies allow you

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