You faithfully paid your life insurance premiums for decades, all to make sure your funeral expenses would be paid for and your loved ones would be covered financially.
But what would happen if you and your policy’s beneficiary both suddenly died? Or, what happens if your beneficiary died shortly after you did? A beneficiary is the person whom you designate to receive your life insurance proceeds when you die.
A beneficiary is a person, who will receive the funds in your life insurance policy when you die, which will vary depending on your personal situation and on the laws in your state. You can name a primary and a contingent beneficiary, as well as naming multiple primary and contingent beneficiaries.
We give you straight answers to your toughest, and some of the most common, questions about life and health insurance. How does high blood pressure impact life insurance underwriting decisions? In the vast majority of cases, having high blood pressure doesn’t mean you’re out of luck for life insurance. The premiums may be higher than if you had a normal blood pressure number, and in some extreme instances insurance companies might decline your life insurance…