term life insurance quote head
family picture life insuranceterm life insurance spacer gifterm life insurance information
term life insurance informationterm life insurance informationterm life insurance definitionsterm life insurance blogterm life insurance for Canadiansterm life insurance spacer gif
Life Insurance News
& Info we're following:
Feb 14 2008
News about FindYourPolicy.com
News about FindYourPolicy.comEdmund was nice enough to email me info about this site: You have to ask yourself; Will my life insurance or safety deposit box be found when I die? It is estimated billions of dollars of Life Insurance and 100’s of
Feb 13 2008
A Practical Guide to Managing Life's Conflicts
A Practical Guide to Managing Life's ConflictsBetter Business I got this email from Better Bureau of Sask Inc today. Kelly Karius, B.S.W., R.S.W., Mediator., and Author of "This is Out of Control!, A Practical Guide to Managing Life's Conflicts"
Feb 13 2008
SITE REVIEW: Insurance Quote Site
SITE REVIEW: Insurance Quote SiteI was asked to do a review for www.insurelog.com/life-insurance.htm which is a insurance quote site located in North Hollywood, CA although they give quotes in all states. This site gives quotes for the following p
Nov 23 2007
Suicide Life Insurance Benefits? - Life Insurance Discussion
Suicide Life Insurance Benefits? - Life Insurance Discussion As I was was researching this article, I went on to google groups and looked for what people were saying about suicide and life insurance. The holiday season has a reputation for having h
Nov 23 2007
Costs Of Funeral Expenses - Funeral Planning
Costs Of Funeral Expenses - Funeral Planning THE QUESTION: What are the first two questions that a loved one asks if their spouse or parent dies unexepectedly? SPOUSE QUESTION #1: What should I do? SPOUSE QUESTION #2: Do I have the money to pay f
Nov 16 2007
You need life insurance?
You need life insurance? by Williambenjamin Life insurance is a matter, people often don't talk about. But it really needs to be under consideration. Whether you accept or not; your future is not secured, if you don't own any policy. Generally, p
Nov 16 2007
Do I need life insurance and if so how much
Do I need life insurance and if so how much? by Chris Clare This is a question that is often asked of me as a financial advisor and one that is very simple to answer. In order to establish if someone needs life insurance you first need to ask
Nov 14 2007
Investing in life settlement is a good thing for a prosperous life
Investing in life settlement is a good thing for a prosperous life by William Regal There are various financial plans in the offing and people are also investing in them, as they offer more benefits in terms of money and security too. The latest
Nov 14 2007
Critical Illness Insurance Developments And Trends In Canada - Part1
Critical Illness Insurance Developments And Trends In Canada - Part 1 by Mike Armstrong Critical illness insurance may be considered as a new form of insurance in Canada. Critical illness cover first made its apparition in Canada during the yea
Nov 14 2007
Critical Illness Insurance Developments And Trends In Canada - Part 2
Critical Illness Insurance Developments And Trends In Canada - Part 2 by Mike Armstrong Insurers in the Canadian market continue to provide more and more cover for many critical illness conditions. By doing this, they may be able to then make t
Blog by Topic (Tags)
Home Insurance
Car Insurance
Travel Insurance
Life Insurance Scams
Credit Card Insurance
Life Insurance Regulations
Life Insurance Stories
Life Insurance Problems
Health Insurance
Mortgage Insurance
Life Insurance News
Funeral Expenses
TransAmerica Life
AIG Direct
Canada Life Insurance
Empire Life Insurance
Equitable Life Insurance
Industrial Alliance Insurance
Standard Life Insurance
RBC Life Insurance
Manulife Insurance
Unity Life Insurance
Blog Tag Place Holder
February 2008
November 2007
October 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
July 2006
May 2006
April 2006
March 2006
February 2006
August 2005
term life insurance blog rss feed
RSS Feed
Life Insurance Blog
Website Design and SEO
HomeGrown Advertising Inc (1994)
Life insurance news
News

LIFE INSURANCE BENEFICIARIES

Definitions:
BENEFICIARY: A beneficiary is a person, estate, endowment or organization named by you to receive the life insurance proceeds when the policyholder dies. by designating a beneficiary, you tell the life insurance company specifically what to do with the insurance proceeds after the policyholder's death.

PRIMARY BENEFICIARY: A Primary beneficiary is your first choice to receive life insurance proceeds. You may be able to designate more than one person as a primary beneficiary.

CONTINGENT BENEFICIARY: A contingent beneficiary is your second choice to receive the life insurance proceeds if all of the primary beneficiary(ies) is (are) not living at the time of the policyholder's death. You may be able to designate more than one person as a contingent beneficiary.

A MINOR, MENTALLY INCOMPETENT PERSON OR ESTATE AS BENEFICIARY: If you should choose a minor or person who is not legally competent, or an estate as beneficiary, it may be necessary to have a guardian or administrator appointed before any proceeds can be paid. This may mean delay and additional expense for your beneficiary.

Planning a beneficiary is based on many different situations that come about based on your age, marital status, whether you have dependents, or your financial status. Below are some examples of why you would choose different people to be your beneficiary.
NOTE: that these examples are simplified and you should talk to a trained agent before making any decisions regarding who you should designate as your beneficiary.

PARENTS

You would make your parents the beneficiary of your life insurance policy for the following reasons.

  • You are single with no children, no debt and you just want to cover your funeral expenses.
  • In case both you and your spouse dies and you want the parents to take care of your children.
  • You want to give a gift to your parents

SPOUSE

The spouse as a beneficiary is probably the important as you get more and more involved financially.

CHILDREN

You should consider your children as beneficiaries if they're over 21 and you feel that they can make mature financial decisions.

EXECUTOR

FAMILY MEMBERS

FRIENDS

CHARITIES